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You can be allowed to stay in your home after a repossession hearing. This may be because there wasn't a good enough reason to repossess the home or because the Master believed you should be allowed to stay to give you time to put the situation right.
You should only give back the keys to your property if you're absolutely sure that there's no way you can keep your home. Make sure you speak to an adviser at our Mortgage Debt Advice Service before you take this drastic step.
When your home is repossessed it is usually sold to pay off your debts. This will also happen if you hand over the keys to your home voluntarily. The money you get may not be enough to cover everything you owe.
Housing associations and the Housing Executive can end a tenancy without going to court if they suspect that a property has been abandoned, but the correct procedure has to be followed. If you're worried about eviction you should speak to someone urgently. Advisers at Housing Rights may be able to help you stay in your home.
You can be asked to go to court if you miss payments on your mortgage. Getting a court summons doesn't mean that you'll lose your home. There are a number of decisions that the judge at court can make. Our advisers at Housing Rights may be able to represent you at your court hearing.
If the Chancery Master grants your lender possession, the lender has to apply to the Enforcement of Judgments Office to enforce the court's decision. Even at this late stage, you may be able to avoid having to leave your home if you can come up with a realistic proposal of repaying the money owed.