![]() Selling is better than having your home repossessed If the lender has a judgment or you have received a Notice to Vacate.If you have received a Statement of Claim (or Notice to Occupier).If you are behind in payments (or about to be), but no default notice yet.If you are not behind in your payments, but you are worried.Financial counsellors can help if you are in financial hardship.If your financial difficulty is likely to be long term, consider selling your home.Get advice if your lender threatens to take your home.You can ask your lender for a hardship arrangement if you are in financial difficulty.The lender can take your home and sell it if you don’t keep up with your payments.You should get professional advice about your personal situation from a financial counsellor or a lawyer. If you have a business related loan, get legal advice. ![]() This fact sheet only applies to home mortgages and residential investment loans – most home loans.
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