The Mortgage Rescue Scheme has been running in the UK since January 2009. Its purpose is to provide vulnerable families who are at risk of losing their home with financial assistance and alternatives to a repossession from their lender. There are two main avenues homeowners can go for when applying for the Mortgage Rescue Scheme: The Government Mortgage to Rent option and the Shared Equity option. Although these schemes have received a lot of publicity and interest from the public, has the program been successful? Has it accomplished what it set out to do? The statistics for the first quarter of 2011 have just been released. They tell a story that although far from a one-size-fits-all solution to the issue of repossession, does seem to be providing some respite to struggling homeowners throughout England.

It is worth noting that the two options available in the Mortgage Rescue Scheme are from the only options available to lenders. Lenders have several methods at their disposal to reduce monthly payments and help low-income families save their homes. These methods include short term reduction of mortgage payments, prioritize debts and increase the term of a loan. However, when these options fail or the lender will not consider an alternative, it may be time to consider a Mortgage Scheme.

If you are at risk of losing your home, the Mortgage Rescue Scheme is an initiative you should look into. Although this website does not provide homes or loans we have done the research to provide you with the advice you need to save your home from a repossession.

Our first piece of advice is act quickly. Once you are behind in your payments and a lender starts a repossession claim, time is of the essence.

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