Home Improvement loans :The Impaired Property Market in South Africa

by | May 12, 2022

Home Improvement loans

Distressed Homeowners and The Impaired Property Market

It can be a distressing time when you are served with legal papers informing you that your home is going to be auctioned off. This guide will provide you with some tips on how to stop the auction and repossession of your home, and unlock the equity that may be trapped inside. Real Estate Assist can provide you with more information and advice specific to your situation.

When you are in arrears on your mortgage, the first step that your lender will take is to send you a default notice. This notice gives you 30 days to catch up on your payments. If you do not make the required payment within this time frame, the lender can then file for foreclosure. The next step is for the court to issue a writ of possession, which allows the sheriff to evict you from your home and auction it off to cover the outstanding debt owed.

How we Help you Stop your auction?

When you work with our team, we stop all legal action against you. This means that the home will not be auctioned or repossessed while we are working on a solution for you. We understand how important it is for you to keep your home, and we will do everything in our power to make sure that happens.

If you want to stop the auction and repossession of your home, you need to act quickly. You can do this by either catching up on your payments or reaching an agreement with your lender on a repayment plan. If neither of these options is possible, you can apply to the court for a stay of execution. This will stop the sheriff from evicting you and give you more time to try and sell your home or raise the money needed to pay off your debt.

Auction Assistance

Foreclosure Assistance and Advice with Real Estate Assist

If you are facing foreclosure, it is important to seek professional advice as soon as possible. Real Estate Assist can provide you with the information and advice you need to make the best decisions for your situation. We can also put you in touch with a solicitor who can help you through the legal process. Contact us today to find out more.

Default Notice Meaning:

When the government wants to take your home, they will send you a notice saying that they are going to sell it at an auction. This is called a “default notice.”

Writ of possession meaning:

The writ of possession is an order from the court that tells the sheriff to evict you and take possession of your home.

Solicitor meaning:

The solicitor is the lawyer who represents the government in court.

Short term debt:

If you have short term debts, such as credit card debts or personal loans, it may be worth consolidating these into your mortgage. This will reduce your monthly repayments and free up some cashflow.

Mortgage arrears:

If you are in mortgage arrears, you should speak to your lender about your options. They may be willing to extend the terms of your loan, or even put you on a interest-only repayment plan for a period of time.

Bond arrears:

If you are in bond arrears, you may be able to negotiate a payment plan with your bank. This will allow you to catch up on your payments over time, without the threat of repossession.

Repossession prevention

Your Home is Important to the family

A family is not complete without a home. A home is a place where a family can come together and share their love. It is a place where children can grow up and learn about life. Your home is important to your family, and they rely on you to keep it safe and secure. Thank you for all that you do to make your home a place of happiness and love.

Your home is your castle, and you should do everything in your power to protect it. If you are facing foreclosure or the threat of auction and repossession, don’t panic. There are things you can do to stop the legal process and unlock the equity in your home. Real Estate Assist can help guide you through the process and protect your property.

Are you behind on your mortgage?

If you’re behind on your mortgage, your home may be at risk of being auctioned off. But don’t worry – there are ways to stop the process and keep your home.

The first step is to clear your old debt. Talk to your lender about a repayment plan that fits your budget. Once you’re caught up on payments, you’ll be in good standing again.

If you can’t afford your mortgage, you may be able to sell your home and pay off the debt. This is called a “short sale.” You’ll need to find a buyer and work with your lender to get approval.

Another option is to refinance your home loan. This will lower your monthly payments and make it easier to keep up with your mortgage. You can also use equity in your home to get a loan that pays off your old debt.

Are you Facing Auction, Repossession or Foreclosure?

If you’re facing foreclosure, there are legal ways to stop the process. You can file for bankruptcy or ask for a

If you’re in danger of losing your home to foreclosure, a short sale may be a option for you. A short sale is when you sell your home for less than what you owe on it. Real Estate Assist has a better solution for you and you don’t need to go the short sale route We would rather help you maximize you returns with our Improve To Sell product and settle your outstanding debt for you.

To complete a short sale, you’ll need to work with your lender and a real estate agent or agency. Here’s a guide to help you through the process:

Get pre-approved for a short sale.

You can speed up the process by getting pre-approved for a short sale. This means that your lender has already agreed to let you sell your home for less than what you owe.

You’ll need to find a real estate agent who’s experienced in short sales. They can help you navigate the process and make sure that everything goes smoothly.

Once you’ve found an agent, they’ll work with you to list your home for sale. It’s important to price your home correctly so that it will sell quickly.

If you’re not sure how to price your home, Real Estate Assist can help you come up with a competitive listing price.

Once your home is listed, it’s just a matter of waiting for the right buyer to come along. Once an offer is accepted, the sale will go through and the foreclosure process will be stopped.

Property Assistance

Real Estate Assist can help you stop legal action and unlock the equity in your home which will not cost you any upfront costs. We will also help you stop sale in execution and maximize your profits by settling all debt and improving your property before the sale with the help of investors.

We have helped many homeowners in your situation and we can help you too. Contact us today to find out how we can help you stop the auction and repossession of your home. We offer a free, no obligation consultation so you have nothing to lose.

Don’t sell your hard earned property and your family home because of pressure and stress, let us assist you and help you and buy you some time and improve your home before you just sell in for a quick buck. Let us show you how we have helped others in your same situation. We can help! Contact us today!

Disclaimer: The information provided in this blog is for general informational purposes only and should not be considered legal or property advice. We do not take responsibility for any actions taken based on the information provided in this blog. It is always recommended to seek professional advice for your specific legal or property needs. Contact us (Real Estate Assist) if you seek such advice and we will appoint a professional from our team to be of assistance.

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Please Note: We are unable to provide assistance if you do not own a property. Real Estate Assist specializes in helping property owners who are experiencing challenges with their mortgage payments. If you own a property and require support with debt consolidation without going through the debt review process, our team is here to help you explore options to unlock the equity in your home for necessary family matters.

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