Stop Repossession, Save your Home

by Oct 1, 2021Real Estate Owners0 comments

The Top Property Repossession Prevention Firm in South Africa

Repossession prevention and Foreclosure prevention are hot topics these days but very few understand the sad and cruel parts of being the victim of these circumstances and present the real and lasting solutions that are needed for these situations.

Stop Repossession Now!

Repossessions and Foreclosures are on the rise and people all over the world are wondering what they can do to help prevent repossession and foreclosure and stop auctions and to keep their homes if at all possible. Foreclosure Prevention and Stopping Auctions are Real Estate Assist’s specialties, as we have been helping homeowners for years with Repossession solutions in South Africa. Repossession prevention services are offered by Real Estate Assist.

Repossession prevention starts with an initial consultation where we discuss the foreclosure process, key documents involved in Foreclosures such as financial statements, income verification forms etcetera, and possible Foreclosure solutions which include Mortgage repayment plans and Debt review alternatives among others. This allows us to devise a Foreclosure Prevention plan that works for you! Our Repo Solutions and services are comprehensive and thorough and we will be with you every step of the way, You don’t have to go through this alone.

Property Repossession Prevention allows you to avoid Foreclosure and repossession while maintaining your dignity, peace of mind, and the rest of your family intact!

The cause of property repossession

Is not always the result of a foreclosure. In some cases, borrowers stop making their mortgage payments and leave them with no option but to repossess the property.

Make sure that you are aware of the consequences if you fail to make mortgage payments. If you are behind on payments, contact us and we are sure to have a solution either by consolidating or canceling the debt or working with investors to help you recover and buy you some time.

If your lender decides that they want their money back, creditors will take serious steps in order for them to get their property repossession. This is not always an easy process and can be very expensive for lenders which result in higher interest rates on loans or even turned down credit card applications by other financial institutions. Make sure that you do everything possible in order to avoid foreclosure because once it happens, there’s no turning back! Ensure every opportunity before moving forward with a decision whether this may include refinancing options or finding ways through debt consolidation plans just so it doesn’t affect your FICO score negatively.

While some people simply give up when faced with problems paying off debts, it’s always best to seek help from a licensed credit counselor or Financial Advisory (Real Estate Assist). They can provide valuable advice and assistance on finding the best solution that will work for you based on your personal circumstances.

Be sure to read our blog post about Debt Consolidation!

We also have another helpful guide: “How To Improve Your Credit Score”. Check out those articles as well if those topics interest you! Thanks so much for reading this article, we hope that it was informative and has helped answer some of the questions you may have had about real estate repossession. Feel free to check back with us at any time as we aim to continue publishing new material related to various homeownership issues such as refinancing tips which could save you thousands and avoid foreclosure.

Find out if your home is at risk for Repossession by checking your credit reports, You can get a free credit report summary every month on Credit Sesame.

 If the rates are high, then you might have to find a way to refinance your mortgage.

The first step is finding out what kind of loan you currently have and who holds it. You can do this by logging into your bank account or checking with any companies that may hold loans on houses in your area. If you are not comfortable doing this online, call them up instead! Don’t forget about looking at the current interest rate as well – many people don’t realize they could be refinancing their loan for better terms even if they’re already making payments on time. Every little bit helps when it comes to saving money, after all, right? Make sure that whatever option you choose will give back some of the financial security that you once had; after all, this is why you refinanced in the first place.

Repossession/Morgage/ Foreclosure are scary words, and we get it. That’s why at Real Estate Assist based in South Africa, foreclosure prevention is our priority. Repossession is a very serious matter, and if you’re not careful working with the wrong company to assist your family or business could lead to serious financial damages or even bankruptcy. Repossession can happen to anyone, so the best way to protect your family and business is by hiring an experienced Repo prevention company like Real Estate Assist, Assisting anywhere in the country from Cape Town to Johannesburg, Bloemfontein, George, etc.

You can avoid your property being auctioned by working with us and providing the documents needed so we can begin the repossession prevention process. We have a Quick APP which is the perfect way to start your journey and keep your home or property from being auctioned and Repossessed

Understand the difference between a mortgage default, bankruptcy, and foreclosure 

The Difference is important because each has a different impact on your credit report and financial future.

If you default, it can be harder to get approved for a loan in the future especially if there are any late payments or delinquencies recorded with that lender. Bankruptcy isn’t always bad but having this mark on your credit history is going to make lenders nervous about loaning money to someone who they think may not pay them back.

Foreclosure happens when you stop making mortgage payments after being foreclosed upon by the bank which happens when you have missed quite a few monthly bills during an extended period of time (typically more than three months). Since most home loans require homeowners insurance, the foreclosure will also result in a cancellation of coverage to non-payment leading up to the foreclosure.

This is why it’s important to not only understand the difference between these three but also what could cause you to fall into any of these categories. If you are considering one or more of them, then borrowing money for a house probably isn’t your best option at that time and maybe even in the future if there are other financial issues causing problems. The last thing you want is to spend thousands of dollars on an education loan, credit card debt, car loans, etc., just so they can come back later and foreclose your home leaving you with nowhere else to go.

Make sure you have copies of all important documents related to your property including deeds, mortgage papers, etc., as well as insurance policies that cover damage or theft

Stop my Repo and Repossession prevention

Starts with an initial consultation where we discuss the Prevention process, key documents involved in Housing Repo Prevention such as financial statements, income verification forms, etc, and possible Repo solutions which include Mortgage repayment plans among others. This allows us to devise a Foreclosure Prevention plan that works for you!

We offer free consultations all over South Africa including Bloemfontein, Cape Town & Johannesburg! We look forward to hearing from you soon!

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