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Quick House sale - close to getting repossession

mce99 · 2012-04-11 19:43:28

I have a mortgage & I'm facing the possibility of my house being repossessed. I know that are sight out there that will give you a cash quick sale & I'm well aware that they will pay under the market value. After a quick check on google there are quite a few & I'm not sure who to trust, that will give the best price. Has…

Comments

GDB2222 Posts: 26,881 Forumite

19 April 2012 at 10:59AM

Simon25 wrote: »

we think they give us a decent price, it was below the value but in our situation we was worried the lender would sell it just to recoup the mortgage debt and we would loose some equity.

That's quite a common worry, but it's probably misplaced. The lenders have an obligation to get the best price possible in a fairly short time-scale, and they have a well-tried system that works. Buyers think that repos are cheap, but they rarely are very much below the true value.

No reliance should be placed on the above! Absolutely none, do you hear?
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