Home Repossession in South Africa
According to Real Estate Assist, one of the leading distressed and impaired real estate firms in South Africa, homeowners in distress is becoming more and more common. This is due to the fact that many people are struggling to keep up with their mortgage repayments. If you’re one of those people who are struggling to make ends meet, it’s important to know that you have options available to you. Real Estate Assist provides unique and new solutions to homeowners in distress and to the distressed housing market in South Africa. They stop auctions and repossessions and provide debt consolidation services to ensure homeowners remain debt free with their Financial Courage program and to address pressing cash-flow issues.
Mortgage Arrears and Bond installment arrears
Are you behind on your mortgage? Are you facing the possibility of foreclosure or repossession or auction? If so, you’re not alone. In South Africa, many homeowners are struggling to keep up with their mortgage payments due to job loss, medical bills, or other unexpected expenses. Fortunately, there is help available.
If you’re struggling to make your mortgage repayments, the first thing you should do is contact your bank or lending institution. Many banks are willing to work with customers who are struggling to keep up with their repayments. They may be able to offer you a forbearance plan, which will allow you to make smaller payments for a period of time. You may also be eligible for a loan modification, which will lower your interest rate or extend the term of your loan. If you contact us we can take care of all admin and negotiations for you with no upfront payment required.
No need for a short-sale
Another option available to you is selling your property through a short sale (not recommended). A short sale is when you sell your property for less than what you owe on your mortgage (Short Sale alternative). If you’re struggling to keep up with your mortgage repayments but don’t want to go through the foreclosure process, we can assist you and have assisted many property owners in this same situation.
If you’re facing foreclosure, it’s important to know that there are options available to you that can help you stay in your home. If you’re unsure of what steps to take, it’s important to seek out the advice of a professional property advisory firm like Real Estate Assist who can assist you in exploring all of your options and provide you with a lasting strategy.
Real Estate Assist provides unique and new solutions to homeowners in distress and to the distressed housing market. They stop auctions and repossessions and provide debt consolidation services so that homeowners will remain debt-free while managing their cash flow and financial wellbeing. To learn more about how Real Estate Assist can help you avoid home repossession, visit www.realestateassist.co.za today!
