A CCJ remortgage is a remortgage that is designed for someone with a County Court Judgment or CCJ. A County Court Judgment is when a legal decision of monetary value has been handed down against a person. This means they have a bad debt and it is reflected on their credit. This can often be more damaging then a simple bad credit mark on a credit history. However, there are lenders who specialize in CCJ remortgage.
A remortgage is when a home owner gets a new loan to pay off their old home loan. A home owner would do this to get a better interest rate which will save them money.
A CCJ is a serious matter. If the debtor does not honour the CCJ they will face possible problems with their home. The creditor can apply to get a lean put against the home. If the debtor still doesnt pay the CCJ the creditor can seize the home for payment.
One good reason for a person to seek a CCJ remortgage is to help them be able to clear up the CCJ. The home owner could remortgage their home so they could have extra money every month, since the lower interest rate would mean lower monthly payments. The extra money they are saving could go towards paying the CCJ.
Many...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
