You all know how reluctant we may become when dealing with issues of unpaid mortgages and when we simply know we don’t have a way out of the whole situation. However we get back to our senses when we realise the bank needs its money back so badly that they have applied for repossession orders and after going to curt and it appears that you are unable to pay off the bank is granted the permission to repossess the house and in a little while you have an eviction notice in you r hands. This is not the time to panic but take a decisive action because the only thing the mortgage lender will always be interested in is a way to get back their money. But you may need to be informed that you can turn the tables to your advantage even at the eleventh hour if you took the right step. Do not play the wait and see game but simply make up your mind and visit a quick property sale company who can offer to buy the house from you immediately and give you cash to pay off your mortgage arrears.

With your unique individual needs any genuine investment company will have a way of dealing with your situation since this is exactly what they do and so it will be to your advantage if you lay your situation on the table for them to give it a consideration. As soon as you call such a property development company they will give you an offer letter which you will use to convince your mortgage lender that their money is actually on the way and they usually respect such contracts. Mortgage companies handle repossessions as well as evictions with a lot of care since they usually have a brand name to protect and they know the possibility that public auctions may not be the best way to recover their money.

So where do you start when you have received those dreadful letters and it is now time to take some action? Just pick up your phone and call the company of your choice and they will immediately give you an offer and send their person to value the property and the contract could be signed during the first 24 hours. Should you for any reason feel that you could get a better deal somewhere else you have a cooling off period of up to 14 days during which you are allowed to change your mind without any obligation to you. But once you are satisfied with the whole deal you will be at liberty to move on and the good news is that you will not be obliged to make any payments in terms of commissions as well as legal fees or stuff like that. It is your inaction that put you in the current mess and any further delay could mean disaster to you.

You will agree with them how soon they can avail the cash and the fastest could actually be something like seven days for the quickest deals to go through. Depending on the condition of your house you may raise more cash than you owe the bank and the balance is given to you after your lender has been paid off. You may want to use the surplus funds for anything else including a deposit for your new house or even some rental arrangement as you wait to get back to your feet financially. Do not let the lender proceed with the eviction notice and as long as you are still in that house there is quite a big deal you can do to avoid repossession.

Author's Bio: 

Steven Martin is a FSA interim authorised provider of sell and rent back and also provides Quick property sale service. He works at http://www.quickpurchase.co.uk