A Division of Kiwi Mortgage Brokers

0800 705 706

YOU DON’T HAVE TO LOSE YOUR HOME TO A MORTGAGEE SALE!

We know it’s a stressful time when something like this happens, but in many instances we can find a solution to help you keep your home.

In 1999, a family who were about to be thrown out of their home asked for assistance. We were able to able to restructure their financial affairs and save the home by dealing directly with the lender concerned. Most people feel uncomfortable talking about their problems let alone trying to fix them, that’s where we come in.

The lender must, however, fulfill certain strict legal requirements including serving you with the property law act notice correctly and giving you time to remedy the notice. If these requirements are not met the homeowner may be able to stop the lenders attempt to sell the property. Once you have this notice (PLA) you need to contact us fast!

How We Help

We work directly with you and provide support to:

• Find alternative options to selling or losing the home

• We will deal with the bank or lender which takes away the hassle of negotiating

• Provide security, comfort and piece of mind

• Always attempt to retain the existing first tier / prime mortgage

• Assist with family budgeting systems

• Help rebuild a clean credit history

• Ensure long term financial success

What we do:

Mortgage lenders are not in the business of “Saving Families Homes”, they are in the business of lending money they are processing factories and do not have the time or inclination to assist you with your finance problems. When you stop making your home loan payments (for any reason), the lender has the right to call up the loan by serving a property law act notice and selling your home under a mortgagee sale. The mortgagee sale / foreclosure process gives the lender the right to sell the family home so they can get their money back and any other costs incurred (which can be substantial and may take all or any equity you have in the house).

YOU NEED TO ACT FAST!

Mortgagee Sales - Information Guide

1. Receiving a Property Law Act or Demand Notice can be a very stressful time. The best thing to do is act quickly and get some professional advice.

2. Don’t ignore the notice, it wont go away

3. You have time to remedy the notice up until the date on the notice.  Contact me and send me a copy of the notice, I will deal with the bank or lender for you. Once the notice has expired you can still refinance or sell the property right up until the day of a mortgagee auction. We help people out like this every week.

4. If you delay dealing with the problem, more and more penalty charges will get added directly to your loan, which you will end up paying when you refinance or the property is sold. The Penalty Interest can normally be up to 12% above the rate you are paying (so you could end up paying 22%+ on your whole loan).
As well as:
     - Legal fees up to $5000
     - Serving Agent Fees $500 (more if you don’t accept the notice and it is served        
       by the courts (up to $3000)
     - Real estate marketing fees, auction fees and withdrawal fees ($5000-$20,000).

So as you can see by doing nothing, charges of up to $10,000+ can be added to your loan (legally you have to pay these)

5. The goods news is, if we communicate with your lender or refinance quickly we can avoid all these costs.

6. We will sit down with you and work out a strategy to get you back on track.

7. We will involve your lawyer in the strategy

It can be stressful time, but understand that there are many others in the same situation. With a little early intervention we can resolve these issues, get you back on track and your finance woes sorted. We have helped hundreds of clients in this type of situation in the past.