Facing foreclosure or repossession? Here are your options

With rising interest rates, redundancies, weekly shops that just seem to cost more and more, it’s not surprising that many Australians are doing it tough right now. For some homeowners, mortgage repayments have even doubled over the last two years alone, and sadly, an increasing amount of Aussies just can’t find a way to keep up financially.

And while there are some ways you can reduce your mortgage stress Three ways to beat mortgage repayment stress, if you are unable to pay your mortgage payments in the long term, your lender does have the right to issue default notices. Eventually, they can even start a process that ends with repossession or foreclosure.

In our current fiscal landscape this is becoming an all-too familiar situation for many families. In fact, around 13 homeowners a week across Australia are facing repossession of their properties and the latest figures show that number is on track to double from previous years.

What can I do if repossession of my home is imminent?

One option is to sell your home and hope you earn enough profit to cover your debts and walk away financially better. That, however, is easier said than done. Right now, the market is flooded with homes, so how do you make sure your listing stands out – especially if you are struggling financially?

Here at Your Property Profits our mission is to see our clients walk away free of debt, with higher profits for the homes that they worked so hard for. That’s why we offer our Financial Assistance Package. Designed for homeowners experiencing financial hardship, our package is not means tested and you don’t need to jump through any hoops to take advantage of it.

In a nutshell, we give you the financial assistance you need to get rid of debts from the banks and use our knowledge, experience, and funds to renovate your house to get you the maximum possible price when you sell. That way, you can get the banks off your back straight away so you can breathe a little easier, then we fully pay for and undertake all the renovations necessary to get you on the market fast with a house styled for today’s buyer.

In the end, you’ll likely walk away debt-free or better, with tens of thousands of dollars in your pocket to start your new life.

What are the steps I need to take?

First, we get to know each other. We need to understand your timeframes and needs so we can offer the best possible solution for your unique situation.

Secondly, we evaluate your property, and allowing for your timeframes and needs, and create a unique renovation strategy designed to increase your home’s value and maximise your profit.

Then we create a concise budget for the entire build and present you with a detailed proposal. When you’re happy, we sign contracts and establish a start date to begin work on your home renovating, styling and marketing your home to the right buyers. We’ll ensure your home looks its absolute best before it hits the market.

Once your home sells, after celebrating and upon settlement, we recover our costs and our fee via your solicitor from the profit we make you from renovating your home. And you walk away with more in your pocket than you would have if you’d sold without us, without doing a thing.

Interested in finding out what Your Property Profits can do for you? Find out more or contact us for a chat about your home.