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Facing Repossession Please note that this document is for general guidance only and is not intended to take the place of specific legal advice. For further information and detailed legal advice, please contact
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Facing repossession is when a lender takes back possession of a property due to missed payments.
The property owner who is unable to make their mortgage or loan payments is required to file for facing repossession.
To fill out facing repossession, the property owner must submit a formal request to the lender explaining their financial situation and reasons for missed payments.
The purpose of facing repossession is for the lender to regain possession of the property in order to recoup their financial losses.
The property owner must report their financial situation, missed payments, and reasons for defaulting on the loan.
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