Negative equity occurs when the value of an asset used to secure a loan is less than the outstanding balance on the loan. Rescue My Properties have 8 years of experience helping buy to let landlords and residential property owners come to terms with this problem and have supported them in finding a clear exit.
Negative equity – when you owe the mortgage company more than your house is worth – it has affected more than 1 in 20 people, at the end of 2011. Another 16.6% were on the brink of negative equity. However, negative equity is not a major problem – until you want to sell your home.
A home buyer is said to be in arrears when he or she has missed a series of mortgage payments. That is usually caused by unforeseen financial difficulties or poor financial management. When buyers are in arrears, lenders have the right to take legal action and this is where Invest Develop can help you to work out the best way of dealing with the problem.
Repossession can happen to anyone at any time, situations rapidly spiral out of control. If you are about to be repossessed it can be a very traumatic time for you. Repossession can not only happen to residential property owners it is also a major issue for buy to let portfolio landlords.
The LPA Receiver is a company or person appointed to take control of a mortgaged property in the case of the borrower defaulting. The primary intent is to either collect rental income from the property from the lender or to arrange a sale.
LPA Receivers are frequently instructed upon failure of property developers when their borrowings are largely secured on specific properties. The LPA Receiver name is derived from the of the “Law of Property Act 1925 Receiver”. They are known as Fixed Charge Receivers (FCR) in Ireland.
An eviction can happen to anyone at any time, situations rapidly spiral out of control. If you are about to be repossessed it can be a very traumatic time for you.
All is not lost, there is help available. With Invest Develop and our service providers we do have other solutions and can stop your repossession or eviction within 24 hours. Even if you have negative or zero equity in your property, we can still provide you with a credible solution.