If you get a Repossession call from the court, this may be the most disastrous experience of your life. But these days, things have become simple. You have multiple solutions and the repo can be stopped as soon as possible. What are financial advisors for? The court repo can be stopped and you can contact financial advisors, as soon as you get a court call or summon. 

The first solution is Sell house. If you think that your loan is increasing day by day and you can’t do anything about it, this is what you must do. You will get the cash as soon as possible and use it to either get a new home or either pays off your old loans. It depends on your conditions.

The second option is the Sell and rent back option. Your cash will be guaranteed and it will never stuck up. The cash payments will never be late or delayed. The equity release option works the same like above, but sell and rent back option is more practical to exercise. The Equity release option works best if you are above 50. Though there’s no specific age limit to this. There is a certain amount of cash which can be released. An equity release beyond a certain limit can’t take place. You can simply become debt free and pay off or retire all of your old debt. This would include the interest as well as the principal amount.