Repossession Orders

Repossession Orders

Knowing the different types of repossession orders will ensure that if you are faced with a repossession, you understand the formal notice you receive.

  • Stop home repossession
  • Settle Mortgage Debts
  • Consider a Bridging Loan
  • Debt Consolidation Loan
  • Get a New Mortgage Proposal
  • Free No-Obligation Consultation








    captcha








      captcha
      • Stop home repossession
      • Settle Mortgage Debts
      • Consider a Bridging Loan
      • Debt Consolidation Loan
      • Get a New Mortgage Proposal
      • Free No-Obligation Consultation

      Repossession Orders

      When you are faced with a repossession order, it can be difficult to understand its terms and what exactly it means for
      you. With five different types, you want to be prepared so you can understand what kind of repossession order from court
      you have and what you can do to stop repossession order.

      Suspended Possession Order

      This type of court repossession order will allow you to stay in your home. You have to make the regular payments that
      are outlined in the order, but if you do make those payments, you will be able to keep your house. Of course, if you do
      not make the payments as required, the lender will be able to petition the court to evict you.

      Outright Possession Order

      This type of repossession order allows the lender to take control of your home on the date that is listed in the order.
      This date is typically 28 days after the court hearing you will have. If, for some reason, you refuse to leave your home
      by the date listed in the outright possession order, you can be evicted by the court.

      Money Order

      This court order repossession requires you pay the lender back the money listed in the order. There are two things that
      can happen if you do not make the payments as listed: the bailiffs may take things that you own from you, and money can
      be taken from your account to make the payments. This type of order can’t be used to evict you, but if you fail to make
      the payments, your lender will most likely go back to court to get a possession order for your home.

      Time Order

      This allows the judge to change how much you pay on your mortgage for a set period of time. They can delay when you have
      to make a payment, change your interest rate, or change the amount you pay each month. This is usually only allowed for
      a second mortgage, and if you do not make the payments, then the lender will be able to ask the court to start eviction
      proceedings.

      Possession Order with Money Judgement

      Money judgements can be added to possession orders, which states that you own a set amount of money. This can consist of
      the lender’s legal bills, court fees, and your arrears. This type of repossession order will not apply if your lender
      sells your home for more than the amount in the judgement or you pay your arrears and additional amount in the suspended
      order. If you do not pay the amount listed in the judgement, the lender can petition the court to follow instructions
      listed in the order of possession.

      Whole Of Market Comparison Site

      Free... No Obligation, No Preliminary Credit Checks