You can stop repossession at any time. The best thing to do is address the problem as soon as it's raised by your mortgage company. If you have missed a number of mortgage payments, your lender will usually send you a letter to let you know that they have noticed, and to ask you to contact them. Many people ignore this first letter, hoping that their circumstances will improve, but this is often the start of a problem that rapidly becomes more difficult to solve.

Talk to your mortgage company

It doesn't matter what your financial circumstances are like, your mortgage company will always prefer to hear from you than to keep chasing you. You may be able to arrange reduced payments, or make some other arrangements that you are both comfortable with. One thing's certain: if you don't try and make contact with your lender, things will go from bad to worse.

Can I sell my home?

You may decide to sell your home in order to pay off your mortgage. Depending on how close you are to the mortgage company repossessing your home, you could choose to sell your home the traditional way – through an estate agent – or you could use one of the many specialist companies that can buy your house quickly. This is an option that's been increasingly used by many people who's home is under threat. Not only can a specialist buyer give you a fair valuation for your home, based on its size, condition and location, they can usually complete the sale within as little time as seven days. This means that you don't have to spend months worrying about your sale going through – you get your money and you can pay off your loan. To make things even easier, most of these specialist buyers also offer a rent-back option, which allows you to stay in your home for as long as you want to.