Stop House Repossession

Repossession process in South Africa?

admin — Tue, 24 Jan 2012 03:50:29 +0000

Hi All,

I’m writing an financial article on Repossession in general. Could anyone please share some light on the home and car Repossession process in South Africa from start to end.

Basically, what happens when a consumer stops paying their monthly payments or when the consumer only pay a small amount towards his/her monthly payment. What process will the banks follow to complete the repossession process and does it very between finance houses?

Thanks in advance,
H
Thanks for your answers so far, this is why I am trying to write a full article about repossession process in South Africa as the information is not consistent enough. I really want to write the article showing how the NCA impact repossession both pros and cons for consumers and banks.

An interesting finding I found whilst doing my research is that banks are now also struggling to sell repossessed houses, could this be because consumers cannot afford to buy them or because the lending criteria has changed leaving many South Africans not to qualify for a mortgage?

This is how deep I would like to go in the repossession article, please feel free to post links you might find interesting and true.

Thanks,
H

How to force my ex to sell the house?

admin — Sun, 24 Jul 2011 23:23:47 +0000

I bought a house with my ex partner 5 years ago but we split up soon after and I asked him to sell the house which he refused and then said I would take the mortgage over but he said he would pay it off. Some years later I recieved a letter from the mortgage company saying there had been no payments on the house for years and now they will be proceeding with repossessing the house. I was quite happy for them to do this but then my ex partner payed in £3000 and they stopped the process of repossession. I cannot take my name off the mortgage there are still payments in arrears and he is refusing to sell.

I am at my wits end about this house, and have been to the CAB which they have told me that if I legally force him to sell it will be costly and I cannot afford it as I am not working. Is there any legal aid that can help me, or any other means of dealing with this situation. Perhaps a way of forcing him to allow repossession of the house?

Any advise wpuld be appreciated!

how common are repossessions of automobiles in Britain?(what the law allows for a repossession to take place?)?

admin — Sun, 05 Jun 2011 19:19:08 +0000

was reading in the news papers of the US ..how people will get into physical altercations even with a "tow truck driver" hired by the bank or auto dealership to come and take back the vehicle..and even chase after them if they try to flee with the vehicle..and lately resulted in the death of the auto owner..when the person trying to repossess their vehicle pulled in front of them with the tow truck trying to stop them from fleeing.

is this method also used in Britain? if so, how common ? or how different? and since when?

what is necessary for a repossession to be legal? just 1 late payment or why so many dealerships and banks seem to be so anxious to take back the vehicle..even after 1 late payment? what they gain by doing this?

please explain what you can..and anything about how has changed in past 20 years and how?

thanks for your answers!

How common are repossessions of automobiles in Britain?(what the law allows for a repossession to take place?)?

admin — Sat, 28 May 2011 18:30:54 +0000

is this method also used in Britain? if so, how common ? or how different? and since when?

please explain what you can..and anything about how has changed in past 20 years and how?

thanks for your answers!

My sister and her family live in my property?

admin — Tue, 11 Jan 2011 13:35:21 +0000

They have done so now for since dec 2008, they had informal tenancy agreement and a way below market rental as i thought they would look after it. the 2nd yrs tenancy was issued march 2010.And yes its all legal, papers, insurances etc etc.
Anyway to cut things short i had an arguement with her husband and he stopped paying rent to be clever ,then he said he wanted a agreement through an agency, i refused as i checked with my solicitor and the agreement they had was legal..Anyway things got worse, he did work on the electrics and i had to pay over a thousand pounds to get it put right,he changed the locks and sent me the bill but no keys,and he has removed permanent fixtures and messed up my garden…it was going to court for repossession and arrears of 6 months and he paid up the day before the papers were being taken to court. I spoke to my sister and she apologised and i thought things were ok. So I let it slide
But he then again asked for agreement from agent, i dont want to use an agency, i can do it myself but i got a comprehensive agreement done for him through a Landlord solicitor which is very good.
.I told my brother in law i was increasing the rent to near market rental when i issued the new agreement for the 6 months that he wanted and he said fine, he would pay it no problem…its what he wants….. Anyway i waited till xmas was over and thoght id issue the new agreement in feb with rent increase to take effect then…Now he says he isnt paying it….
i cant win with this guy, he treats me awful because im family and he thinks he can get away with it.
what do i do now…his old 12 month tenancy runs out in march, can i just take my property back then if i issue two/three months notice or do i need a reason to do it….i will never be able to trust this guy. My sister wont stand upto him..What if i decide to sell can i get them out then…they say never let to friends and family, They think they can do what they like because they are related
the property is in the uk

House being Repossessed?

admin — Mon, 22 Nov 2010 23:03:41 +0000

2 of my best friends bought a house together about 2/3 years ago, they split up and she moved out, he stayed there and lived on his own. We have now found out that he’s been having problems keeping up repayments, he’s £3000 in arrears and can’t clear them now. The courts sent him a repossession order, which got adjourned under the condition that he paid off £600 by a certain date, for some reason he could only afford to pay off £500 and has received a letter saying the repossession is being carried out. Is there ANYTHING he can do to stop this? I am very worried about him and his parents are too if this goes through. Thanks

Need to stop home repossession without leaving my house?

admin — Sun, 03 Oct 2010 14:14:48 +0000

My financial condition right now is miserable. I want to sell my house for some quick cash, and plan to rent it back immediately. I was wondering if this is a valid solution or I should look for a small rented apartment somewhere else.

Since we have been living in the house for last 1 year and the place is quite close to my kid’s school, I do not want to leave this place.

My question is: if I work with a cash buyer and request a rent back, will they offer me lower price? What are the other ways to stop repossession, if any?

If reporting someone for benefit fraud means you get your money back they owe you, would you report them?

admin — Sat, 25 Sep 2010 13:36:33 +0000

So someone owes you 1200 pounds and you had been through court and were due to put a charge order on their house. But that only means you get the money paid back when the house sells. The only way they can keep the house is by claiming their mortgage payments through the social, which they are about to do soon, because they are on incapacity benefit. But he works cash in hand. He has substantial arrears and has already had one hearing for repossession, but i think he has stalled it due to saying he will get the mortgage paid soon through social.
Would you report them for benefit fraud to stop them being able to pay the mortgage, thus meaning the house is sold or repossessed, then you get your money back?
Darkling…he will of been claiming benefits for 9 months come november, which is when he wants to claim the mortgage relief. And i know they only pay the interest, he has an interest only mortgage!

At what point is a mortgaged property taken over by receivers, what is the process of the them taking over?

admin — Wed, 01 Sep 2010 23:42:10 +0000

Once they have taken over what is their responsibility if the property has a tenant in it? Can they evict the tenant without a court order, leave it in disrepair to sell the property because it is in negative equity and without notifying the mortgagee? Can they stop the mortgagee from reletting a buy to let property? Can they sell without a court order? By elligally evicting the tenants and changing the locks blocking another tenant from moving in are they not trapping the mortgagee into arrrears which will lead into repossession?

Bankruptcy Attorneys Debt Relief Newport TN Terry E. Hurst

admin — Sat, 31 Jul 2010 23:10:28 +0000

Got debt? Losing your home? Car? Bankruptcy attorney Terry E. Hurst in Newport, Tennessee, offers expert advice and experienced legal representation to those considering Chapter 7 or 13 bankruptcy. Hurst stops wage garnishment, foreclosures and repossessions to help folks get a firmer financial footing, enabling them to start over after financial difficulties. Free consultations. Visit us www.yellowpages.com