Home rescue is a term we use when we need to urgently save a home from being sold against the owners wishes.
It is important to establish exactly what is needed for a home rescue as this will determine how your mortgage adviser will go about getting the required finance.
Home rescue is a term we use when we need to urgently save a home from being sold against the owners wishes.
There are times when financially things can go wrong and it is not uncommon for a bank, another financier, a creditor or the IRD to issue a demand and force you into a situation where your house is going to be sold.
One problem with selling your home or any property as a mortgagee sale is that buyers will think they can purchase the property at a bargain price.
This is exactly what you do not want!
You want to make sure that you do not lose the equity (money) that you have invested in your property.
Should You Sell Your Home?
If you are under financial pressure it may be a good idea to sell the property, but you want to be in a position to sell the property in your own time and on your terms. This will ensure that you maximise the value that you get for the property.
Otherwise you may wish to keep your home.
It is quite common to find that there was one specific issue that has caused the financial pressure that has led to the home being at risk of being sold..
If this issue can be sorted out then things should run smoothly again and therefore what you might need is a quick refinance and then you can keep your home.
Some Mortgage Brokers Specialise In This Type Of Lending
Having a good mortgage broker is important when you need to source a mortgage, and this should be a high priority when you are looking for a non-standard loan like required to save your home from going to a mortgagee sale.
There are a few different ways to source urgent finance and it is therefore important to establish exactly what is needed first as this will determine how we go about getting the required finance for the home rescuesituation.
While you may have a finance broker near you, it may be prudent to use an experienced mortgage broker to source any “Non-Standard Home Loans” as they will more likely have more experience with these types of loans and have access to a full range of lenders.
Stuart Wills is an experienced mortgage adviser with almost 20-years experience doing both standard and non-standard financing deals. He can save your home from a ortgagee sale in most cases and that is what we mean by home rescue.
