Sometimes, missing a mortgage payment or two can seem like the only answer. Things are tough, money is tighter than ever, and you need to feed your family and put fuel in your car. Maybe you’re going through divorce, facing the loss of a loved one, or lost your job.

You call the mortgage company and explain, and they seem sympathetic on the phone, but in reality, they don’t really care. They want their money, and if a couple of months more go by, they will begin to get rough. Six months and it’s court order time. Repossession looms.

Every year 10,000 families in the UK risk losing their homes because of missed mortgage payments. When you fear repossession, what can you do? Let’s look at ways to avoid repossession and get back on an even keel.

1.    Don’t pretend there isn’t a problem

The relief of getting through another month with food on the table, petrol in the car and most bills paid can be so great that you don’t realise how far you are slipping behind with those mortgage payments. Phoning, and reassuring them that it is just a temporary glitch is not enough. The people you talk to are often understanding but get far enough behind, and the threats you have ignored will be made good. It’s not nice, but you have to face up to the situation and deal with it.

Sit down and look at your finances – can you see yourself affording your mortgage payments soon? Is there any way you can cover them for the next few months? If things aren’t going to pick up soon, you need to start thinking about other options.

2.    Try to stay calm and objective

Panicking won’t help, but that isn’t easy when court papers come through the door. Don’t imagine that because you have been a good payer in the past that it will make a difference; it won’t.

You need to consider your options and devise a programme. Work out what has led you down this road and take steps to rectify the situation. You either need to convince the mortgage company that you will and can pay the monthly payments (and what you’ve missed), or think about moving.

3.    Reach out for advice

The threatening letters from your mortgage lender will always contain a sentence about getting legal advice. If you had the money for a solicitor, it is likely that you wouldn’t have got behind with your monthly payments, so you will have to look elsewhere.

It may be that you qualify for legal aid, and you can check on the government’s website. If not, there are other avenues you can explore. Organisations such as Citizens Advice, National Debtline, and Shelter England offer free advice but don’t expect miracles. They are not mortgage experts, and most of the information is on their websites anyway.

If you are in serious financial difficulties, it may be beneficial to talk to a debt management charity, like Stepchange. They will help with your debts but not with the immediate problem of repossession.

Don’t feel like you are alone – remember, 10,000 UK families face repossession each year. That’s a little over 27 families in court every day. Don’t be embarrassed.

4.    Talk to your lender, but remember they aren’t on your side

Communication is always good advice but may not stop them from getting a court order for repossession. At the end of the day, mortgage companies lend money for one reason – profit. They are not charitable. They have large numbers of employees who need paying, large premises that need keeping up, and investors who expect a decent return on their money.

So talk to them, try to negotiate a way to keep things out of court, but be prepared to go and face the music if you have to. It’s better to go if you can – it’s also a good idea to try to negotiate a payment plan before the court date, so it’s just a formality.

5.    Consider selling your home 

If you’ve got time or can negotiate with the lender, try to sell your home. It can be difficult emotionally to move, but living with that much debt and a looming threat of repossession is no way to live. Often selling your home to get rid of them is the best option. Yes, it’s hard to start from scratch, but the burden of the mortgage and threat of repossession can destroy your life and your health. It will be better to put your profit from the house to one side, rent for a year, rebuild your credit, and buy somewhere again in the future when you’re in a healthier financial position. Alternatively, if you can, buy somewhere with the cash and live mortgage free.

If You Need to Sell Your House Fast in Preston, Leyland, or Chorley, We’re Here to Help

Often, going through the traditional channels simply isn’t fast enough, especially if you feel like the bank is banging on your front door trying to get you out. To keep control of the situation, we can buy your property from you in as little as a week from start to finish, allowing you to pay off the bank and break free of the chains of your mortgage.

We’ll give you a cash offer within 24 hours, and, if you accept, you can relax, stress-free, and we do the rest. You can be free of your house in as little as seven days, with no viewings, and no chains to worry about. Contact Croft Property Holdings today and we’ll guide you through the next steps.