If you default on your mortgage, you could face a recovery. In these circumstances, it is important to know your legal rights to understand the process. When you have financial problems, it is important that you address the situation as soon as possible. As the recovery process continues, your options will decrease. Read on to learn more about the eviction and recovery process.

Can a mortgage lender claim my home without a judgment?

Not! Your mortgage lender cannot repossess your home without a judgment. In addition, they must inform you that you are behind before the hearing and that you have the option to pay that debt for a limited period of time. It’s important not to ignore these letters, as this is the best way to reach an agreement with your lender, whether it’s to help spread the cost of your debt or to consider selling your home yourself. If you ignore the warnings or don’t come to an agreement, your lender will bring you to justice. You will receive a letter with the lender’s request, the date, and a response form. It is important that you respond with as much information as possible to support your case.

What is an affidavit?

An affidavit is a legal document that contains the details of your lender’s claim, the balance you owe, payment details, interest rates, and terms and conditions. You will receive it closer to the date of your recovery negotiation.

What are the possible outcomes of a court hearing?

Only you, the judge, and the lender’s attorney will be present at the trial. The judge listens to all the evidence and suggestions and makes a decision based on that. When you have an idea to remedy the situation, such as selling your home quickly or paying back arrears, it is important that you express it during the hearing. Based on what has been said, the judge will decide to cross it out, suspend the session, suspend a suspension order or a confiscation order.

Strike-it-out stops legal action if your lender does not have a case against you, eg. Eg B. If you have already paid the outstanding arrears or have agreed to sell your home. The judge can postpone the session and postpone the verdict to give you the opportunity to sell your home. A suspended redemption order can be issued if you and your lender can agree to pay the arrears in installments. It is important that you comply with the terms of the stay order, otherwise you may be immediately evicted. Ultimately, the worst outcome is a warrant for possession – if no agreement is reached, a date will be set for your eviction.

When is the eviction date?

Generally, the date of your eviction is set 28 or 56 days after the property is ordered. At this point, you must have left the property. During this time, you cannot try to sell your home. If you are faced with a test, consider selling your home quickly yourself. If you appear in court with proof that a sale has started, the judge will generally allow you to proceed.

Will the bailiffs be involved in the repossession of my home?

If you left the property on the date indicated on the property order, then no. However, if you have not abandoned the property by then, the mortgage lender will apply to the court for a court order. The bailiffs will notify you in writing when the eviction will take place and can remove you from your home that day. There are no negotiations with bailiffs.