If you are in the process of being respossessed or being evicted, you might, like many people, consider that whilst you are in the process of losing your home, there will be at least some equity in your home when it is eventually sold off by the mortgage lender.
However, with the drop in house prices since the peak of November 2007, and with over 2 million people now in negative equity, it is possible that you will be incredibly disappointed as the house may be sold off for much less than you think. The inevitable truth is that, in many cases, you will be in significant negative equity owing the mortgage company money once your house is sold.
Norfolk Property Buyers can agree to buy your house at a fixed price today buying at some time in the future using a Purchase Option Agreement. The value might be slightly below the market price, but in some cases can be at full market value depending upon your situation.
If you are in significant negative equity and would have to repay thousands to the bank or estate agent just to move, Norfolk Property Buyers also have a solution providing certain conditions are met - for example, you have a low monthly mortgage payment and are able to pay over at least some of the amount owed in negative equity.
Either way, if you are sure in your own mind that you cannot afford to keep up the repayment, you may find that using a Purchase Option Agreement is the way forward.
If you wish to find out further information, please complete the form opposite or call Norfolk Property Buyers on the number above.