Losing the property that has become home for you and your family is awful. The reality of then having to quickly find a new house is a huge added burden. If you are facing repossession you may have either fallen behind on your mortgage payments or on another loan secured on the property. The first thing to do it to talk to your mortgage provider. From their perspective repossessing a house is a lot of hassle and is a last resort. The reason they will repossess is if they feel that is the only way to get back their money.
The first step therefore is to ring them. Communicate. They have many options in place for people struggling to repay their mortgages, they can extend the length of your mortgage so that your monthly repayments are lower, they can give you a payment holiday (a few months without paying your monthly mortgage to help you get back on your feet, ) or switch you to an interest only payment for a while. All of these options end up slightly more expensive in the long run but lower your current monthly outgoings, perfect for getting your cash flow back on track.
If you have a loan secured on your home with another company, have a chat with them and see if you can lower your monthly repayments to a rate that is more manageable. Your next option, if this was not enough, is to contact your mortgage company and see if you can get a second mortgage (this will only be possible is you have equity remaining in the property. ) Here, again dialogue is the key, explain your circumstances and let them know what the maximum amount you could pay a month would be as you don't want to replace one unmanageable loan with another.
If you have tried all of these options and you still don't have a solution, it may be worth looking into the possibility of selling your home. There are home buying companies who specialise in buying quickly with cash. Typically they will pay 65-70% of the market value for your home and can complete the sale as quickly as one week. Your certificate of purchase is enough to stop repossession and that you should have within 48hrs of giving them a call if you decided to go ahead.
This is a newly regulated industry so look for a company who have an FSA interim regulation - this is very important as it ensures that they are a legitimate, established company. Most of these companies have a website you can apply on but I would recommend giving them a call, you can tell a lot from the way the specialist speaks to you on the phone and it is important to find someone who has plenty of experience and puts you at ease by listening to your concerns as well as your situation.
If you don't want to move out of your home, some of these companies also provide a sell and rent back service which means you can stay in your house as long as you like paying a monthly rent decided by you and the company in advance. There may also be an option to buy the house back once your finances have turned around. Make sure you are clear what a company is offering you before you sign anything as these companies move fast, great as this is what you need, but don't be afraid to ask for clarification on any points you don't understand.