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When everyone has a home

Housing advice for Northern Ireland

Debt advice

CORONAVIRUS UPDATE

You're in negative equity if you owe more on your mortgage or secured loan than your home is currently worth. Selling your home won't clear your debts.

Most people have to pay rates on their homes. Land & Property Services is responsible for collecting this money and can take legal action against you if you don't pay. If you're on a low income you may be entitled to housing benefit or rate relief to help you pay the rates on your home.

Taking action to repossess a property involves a number of stages, which can take a few weeks or months. You may be able to stop the process at any stage, so get advice immediately and keep negotiating with your lender.

Getting into difficulties with your mortgage payments is often easier than you think, so the sooner you tackle your financial problems, the better the result may be for you.

If you are a homeowner, you can only be evicted if the court makes an order telling you to leave. This section explains what happens once your lender has applied to the court to evict you.

You need to understand your debts in order to deal with them properly. You need to prioritise your debts, figure out what you owe and to whom and work out how much you can afford to pay towards these debts. This means you'll need a good understanding of your financial situation and setting yourself a household budget.

Your best shot at saving your home is to get advice and go to your hearing. There will often be a solicitor from Housing Rights at court on the day of your hearing who can represent you in front of the Master.

Planning your finances and your repayments is the most effective way of dealing with debt. An adviser can help you with this process if you're not sure what you should be doing.

If the money from the sale of your home isn't enough to cover your debts, you will still owe the outstanding amount to your lender or mortgage indemnity insurer.

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