Sell My House Help : How The Repossession Process Works.

Repossession is on the increase during this time of recession. So This guide is intended to help you to understand the stages of repossession, why it takes place, and the things that you can do if you are faced with this issue.

Why Repossesion proceeding
If you are paying a mortgage on your house, and have fallen into arrears, your mortgage lender has the right to start repossession proceedings. The terms of your mortgage contract will state this. Normally a lender has the right to take action after two months of arrears, but most lending organisations will work with you to try to clear the arrears and thereby avoid legal action against you. The best thing is to keep talking to your lending organisation and updatethem on your current situation.
If you are unable to keep up payments on your arrears, or the lending organisation is not satisfied with your proposals to clear the arrears, then they will take legal action by going through your local county court. This is done so that they can take control of the property, and gives them the right to sell the property, and to recover the outstanding balance on the mortgage.

Sell My house help - What you should do?
In the first instance, you will be receiving letters from your lending organisation's debt collections department, as well as telephone calls to try to collect the missed payments. As stated above, always keep your lending organisation informed of your circumstances, and attempt to come to an mutual agreement to clear the debt over time. If your arrears remain unpaid for four to six months or more, you account will be reffered for legal action to a firm of solicitors. They will probably write to you demanding that you pay the arrears in full, warning you that you face repossession of your property if the arrears are not cleared, and the account brought up to date. Always contact the solicitors, and propose a mutual payment arrangement that will clear the arrears.
Proceedings to start reposession will often start after six or more months of mortgage arears, with the solicitors representing the lending organisation issuing repossession proceedings in the local county court. A hearing date will be set by the court, and it is very advisable that you attend. It is important that you have all the nessecary documentation concerning your mortgage history and account as part of your preparation for the hearing.

Preparing for the Court
In Court, the person presiding over the hearing can decide to do a number of things :
- adjourn the hearing. You will receive a new date for the hearing. This can occur if the hearing cannot proceed in the case of absence, or if the case needs further information.
 - The case can be dismissed or adjourned indefinitely. This normally occurs only if full payment of the arrears has been made.
- An Order for Possession can be issued - This order will give the lending organisation the right to possess your property after a period of typically 28 days. Even at this stage, "Sell my house help" can help you with getting your house sold quickly.
- Suspension of the Order for Possession - In this case the order is suspended following the payment of the current installment, and a mutually agreed amount towards the arrears. This is a favourable position for all parties as it gives you a further chance to clear the arrears, and gives the lending organisation
some security. However, if you default on the payment or the agreement, the lending organisation has the right to seek possession of the property by way of a possession Warrant.
- A Possession Warrant or Notice of Eviction - This occurs if you have failed to meet the criteria of the Suspended Order of Possession, or you are still occupying your property after the order of possession notice period has lapsed. In this case, the lending organisation will apply to the courts to have you formally evicted. The Court will send you a date and time that you must leave the property. A bailiff of the court will attend your property accompanied by a representative of the lending organisation, and a locksmith, with the intention of taking formal possession of the property. But even at this stage, it is still not too late to seek help. A quick sale of you property can avert the repossession, and with options to rent back the property, you could be back in your own home very quickly.