There could be a major shake up in the area of repossession laws if the Financial Services Authority (FSA) go ahead with new proposals to help struggling home owners. The new measures aim to help ensure that owners in financial difficulty are treated fairly by lenders.
It’s a positive step forward that will hopefully prevent anything like the GMAC-RFC fiasco happening again, but what many people fail to understand is that when it comes to repossession, it is almost as painful for the lender as it is for the home owner. For this reason, many lenders will do all they can to avoid it and this may now even more likely if the new FSA proposals become law.
Tags: fast house sale, repossession, Sell And Rent Back, Sell My House Fast