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stevecomish · Joined: 16 Sep 2009 Posts: 48 0.08 Dollars($)

What is voluntary repossession?

hemsleysue · Joined: 13 Sep 2009 Posts: 72 0.02 Dollars($)

hi steve,

Voluntary repossessions occur when a consumer has fallen behind on his loan payments, and decides to surrender the property rather than forcing the creditor to proceed with repossession.

frankmcdowell2000 · Joined: 07 Sep 2009 Posts: 57 0.00 Dollars($)

hi steve,

welcome to the forum,

Voluntary Repossession is when a mortgage payer decides to vacate their home, and hand the house keys back to the Mortgage Lender, usually as a last resort when struggling to make repayments on their mortgage.

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