Once sold, the owner can avoid the credit nightmare of repossession and bankruptcy, be back in credit again with their home equity, and have peace of mind.
London (PRWEB) September 9, 2009
MPG Investments, the UK's leading home buyer company, has welcomed the government's launch of consumer information to help homeowners in financial difficulty address repossession.
Jason Shaw at MPG Investments said, "It is important for home owners in difficulty to understand the repossession process as much as possible, to safeguard their own interests. However, while we support this initiative, the government has been slow to act. Over 26,000 homes have already been repossessed this year, and another 200,000 mortgages are in default.
"Also, the government has not provided comprehensive advice. So long as there remains equity in a property, the home owner has the option to sell up in order to release the cash in their home. Property repossession can be avoidable, and owners can stop repossession (http://www.mpginvestments.co.uk/repossession/stop-avoid-repossession.html)."
MPG Investments points out that the first option is to try and sell the property, at a reduced price to encourage a quick sale. However, in the current housing market, this may not allow time to sell up before debts become unmanageable. Additionally, someone in trouble with debt may struggle to pay for estate agent fees.
A second option is to put the property up for auction, which is potentially a faster process, but still takes time to complete, and involves additional fees and stress.
The third option is to sell the property to a home purchasing company, such as MPG Investments.
"The property market, an auction, and a cash for home sale will all demand a reduction of around 20% or more on the selling price of the property. The advantage with MPG is that there is no stress of waiting, and the buying process is hassle free. We can make an offer in as quickly as 48 hours, and make a cash offer within the week. There's no quicker way to sell property fast.
"Once sold, the owner can avoid the credit nightmare of repossession and bankruptcy, be back in credit again with their home equity, and have peace of mind."
"For homeowners who need the money from their house now, no matter how bad their financial or personal situation, MPG Investments can help."
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