In life, we all have to deal with emergencies and crises, and more often than not, we might find that we are in a situation where a substantial sum of money is required. In this case, there are several different options open to us, but one that is becoming more and more common to people in the UK is the concept of selling their home and then renting it back. What is this system and why is it becoming so prevalent in the real estate landscape? Take a look below to get a good grasp on this phenomenon and what it can do for you.

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sell your house and rent it back

What is the california state law on repossession??
i have a guy friend who is 73 days late on his car payment. he thinks his car might get repossessed…he has spoken with his car place and he told them he will be paying the car in full next month but they told him they can not hold the account until he makes a payment of 500 he doesnt have 500 until next month. do you think his car will be repoed or do u think he has time. or what is the law on this.?

The answer is provided by :
cybersharque :
The law is simple: you miss a payment, they can take the car. Anything they give you is because they want to get paid and believe if they work with you, they will get paid.

But 73 days is 2 payments plus, and is usually enough to get the paperwork started to grab the car.

My mortgage lender recently got a warrant from the court to repossess my flat. I paid the arrears almost £4000. My mortgage repayment is due again on the1st of September. If I default would they come after me again or would they have to reapply to the court for another repossession bearing in mind that I'd only be owing about £400?

The question was answered by :
David C :
Hi

Sorry to hear about your situation.

Ask the court that issued the repossession documents your question or a legal aid officer or a solicitor will give you 1/2 hour free advice.

In my experience as you paid off the previous arrears in full, they will have to start the whole process again.

obviously, the court costs keep adding to your bill, get some extra income from renting a room out or doing some evening work until you can get back on top of yourself.

You saw last time that by the time it got to court you owed 4000 pounds, it is not worth taking you to court for $400 pounds so your lender will likely just follow their same set procedure as last time to give you time to pay as the last thing that they want is your Home on their hands.

Good Luck

I've had my car for five years. it's in my father's name. he has passed away. The contract on my car was to be paid off this month . I am 2 months behind in my payment. I called the creditors to explain that I will pay the catch up payment this friday. one Rep was real mean about it. I then asked her if I could money gram the money this friday send $900.00 she gave me the money gram info I needed to send the payment. I then called again to reasure that I am still sending $900.00 this friday another rep threatend & said we need the money today. I mentioned I have no other finacial means but friday you will have the money. my question is can they repo my car? the car is 30,000 I have already invested $28,000 I would like for the creditor to know I would not have come this far to lose it. should I hide the car until paid off?

The best answer is by :
ILoveKeyLimePie :
"should I hide the car until paid off?"

Yes, at least until you are all caught up. Especially since the actual named owner is deceased. It would be rather difficult to get back a car that isn't even in your name.

"I would like for the creditor to know I would not have come this far to lose it."

Do you seriously think they care? If the company really wants to repo your car, they will. They want their money and will say anything to get it.

"another rep threatend & said we need the money today."

Or else what? If they were going to repo, they would have already sent someone. Don't let phone reps bully you.

"can they repo my car?"

Yes. If you are even a week behind they can do this, but 99.9% of lenders don't. They want your cash far more than they want your car.