Had my house repossessed in january 08, can I ask for it back, because still not sold and I can afford it now?
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February 28th, 2010 at 6:10 am
no cos u cant afford it
March 2nd, 2010 at 8:36 pm
Since you don’t technically own it anymore, you can probably re-buy it from them. I doubt they will just give it back and let you pick up where you left off.
March 5th, 2010 at 5:29 pm
Contact them and make them an offer. If you can offer them a deal which gives them a good outcome, they will accept it.
March 7th, 2010 at 2:52 pm
You can get back your house by legal means and settled all due payment plus interests levied and legal fees.
March 10th, 2010 at 1:00 am
have a go what have you got to loose…. good luck
March 12th, 2010 at 9:05 pm
i would imagine once repossessed it becomes their property!
personally i would make a appointment and `talk nicely` to mortgage company!
normally i`d think they`d sell it to you at new house purchase-new price but you wont know till you ask eh
best of luck friend!
March 15th, 2010 at 7:17 pm
Sure you can ask but they will want a lot of fees and money down IF they will even contemplate your offer.
But if it works I know a lot of folks in the same boat so let’s just all lose our houses and go back to the bank a few months later and say “hey, I shafted you before, but I will be better if you let bygones be bygones” yeah that’ll work.
March 16th, 2010 at 9:17 pm
No, I am in the same boat, once they reposess they give you I think a month to get the arrears sorted, after that it is surveyed and put on the market, if you want it back it has to be a new mortgage etc, also the reposession will be on your credit file making it harder to find a lender. Im sorry. I fully understand.
March 20th, 2010 at 2:05 am
You can ask but I can not say if they will agree. I would make your offer in writing. Your problem now is to find someone who will grant you a mortgage given your now bad record. I really do wish you good fortune in this, if it is true what you say
March 21st, 2010 at 7:59 am
You can offer to buy it back from them at the current market rate, but you wont be able to pick up from where you left off, if that’s what you mean.
March 23rd, 2010 at 2:21 am
If you can work out a satisfactory agreement to bring the loan currrent and maintain payment and costs, call them. All they can say is no.
March 23rd, 2010 at 6:32 pm
No, how old know all can say the other is ficticious, The house owner is the lender, even when you are in there you are their tennant, In May 08 I lost my home and it devastates me every day!! No matter how much negotiation they do not budge, I had to go down the route of an outright purchase to get it back but couldnt get a lender because of it. It is an outright purchase to get it back as it will be on sale with an agent, they are selling it on behalf of mortgages in posession. it stinks but that is the case!
March 25th, 2010 at 12:57 pm
Your best bet is to contact the lender. I have to admit that I think you are unlikely to get anywhere as you will have a very bad credit record and no lender will give you a mortgage in the current circumstances.
March 27th, 2010 at 9:04 am
No, because it belongs to the bank…there will have been a lot of costs involved in the repossession and connected to the missing mortgage payments etc…best hope for you is that it sells soon for a reasonable price and that you dont have too much of a shortfall to make up out of your own pocket.
March 28th, 2010 at 2:18 pm
Never hurts to ask. Who knows what they will say they are going to loose money in not being able to sell it right now anyway with this economy. Why not have someone in it that will at least make payments. You may set up some arrangements for the past due and whatever else that they have cost involved in. Again, never hurts to ask. Hey check out this link, maybe they can help you. I just ran acrossed it.
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March 29th, 2010 at 8:35 pm
If you can qualify for a mortgage than you can buy the house again; however, with a foreclosure on your record just a year ago, you probably will not qualify. If, on the other hand, you have cash in hand…go buy it!