Stage 1.

As soon as you have lost two or more mortgage repayments, your mortgage lender may legally start the process of recovering your home. Before resorting to the legal system, they will contact each other, in general, this will not be done through any person in their local branch with whom they regularly deal, but through their debt management department.Banks and other mortgage lenders are legally obligated to treat you fairly, and government pressure means that you should consider doing what you can to help you avoid recovery.
If you have equity in your home, they can allow you to add late payments to the remaining amount to repay, they can allow you to extend the duration of your mortgage, or they can offer some other type of short-term financing to address your problems.

There are two important things to do, regardless of the options offered by the lender.
  1. Be sure to keep notes and request documentation of all offers they make, keep all correspondence to have a record of what has been discussed in case you need to trust him later
     
  2. Look for independent financial advice and think carefully about what is offered. In some cases, it is possible to find a short-term solution. to be able to fulfill your new commitments

    Stage 2.

    If a few more months of unpaid arrears pass through your mortgage letter, you will receive a letter from them or more likely from your lawyer. The letter will warn you that you are about to begin the recovery process of your home and take it to court. At this time your lender can request a recovery order. 

    Stage 3. 

    You will receive a subpoena from the court. This will give you details of your audience.

    Stage 4.

    If you do not appear in court for the hearing to represent you or have professional representation, the recovery process will take place without opposition. In this situation, the judge must grant the recovery order (or notice) against you.

    If you appear to the court, you will have the opportunity to present your side of the story. At this point, you should consider some form of legal representation, your bank or mortgage lender will have a lawyer to represent you and be familiar with the process. It is a good idea to seek the help of your own lawyer to make sure that you are being treated fairly.

    Stage 5.  

    This is the final part of the house recovery process. If the court judgment has been against you and you have granted a recovery order against you or if you have not made another payment after a suspended recovery order has been granted, your lender may request an eviction order. This is a letter that tells you that you are legally obligated to leave your home. In most cases, you will have between 7 and 14 days to leave before a bailiff is sent to physically remove you.

    There are several steps to the home recovery process and this guide is a general description of what happens. The most important thing is to act quickly as soon as you fall behind with payments, talk to your lender to see if they offer a way out and make sure it is something you are comfortable with and can meet your financial commitments in the future. Make sure you understand any offer the lender makes and read the fine print so you do not have problems later.