All Entries Tagged With: "Repossessions"
50 percent of middle class professionals fear they may be repossessed
Research shows that 50 percent of middle class homeowners are in fear of losing their properties in 2009 as they continue to struggle to pay their mortgage payments according to reports in the Daily Telegraph.
The Council of Mortgage Lenders predicts that the number of repossessions will hit 75,000 next year nearly double of this
American foreclosures surge 21 percent: RealtyTrac
According to RealtyTrac the number of foreclosures in America has risen 21 percent in September from the same time last year, although the figure fell by double digits from the previous month in some states as the slowed down the foreclosure process. RealtyTrac the company who did the report are a research firm who [...]
New Law on Repossessions: Hope for homeowners
Mortgage lenders in Britain will have to abide by new laws according to the Prime Minister, under the new rules the lenders will have to prove that home repossession is only used as a last resort.
The new rules to be introduced are to stop lenders rushing in to repossess homes to allow them to get [...]
Northern Rock: Repossession king
Northern Rock has been branded the most aggressive and ruthless bank in repossessing properties, with figures out showing that the nationalised bank is taking back 32 homes a week. In the three months to the end of September this year Northern Rock repossessed 4,201 home, this figure being far higher than most other mortgage companies [...]
Credit crunch hits the rich, as £11.6m property is repossessed
If you think that the credit crunch only hits the lower-paid and the sub-prime, then the news of a £11.6 million home being repossessed in London’s swanky Holland Park will show how it is also
UK repossession figures show rapid increase
Official figures out today show in England and Wales that homeowners threatened by repossession rose by a quarter in the year to
18,900 UK homes repossessed in the first half of 2008
A staggering 18,900 homeowners lost their homes in the first six months of 2008, the highest number for 12
Tighter mortgage rules will help fight repossessions
The Federal Government has been forced into a move that will make it harder for people to get a mortgage, as they will tighten the rules for government-backed mortgages. The reason for such a move is simple, some mortgages are easy to come by and now with the current housing crisis many homes are facing [...]
Homeowners suffering negative equity need more help
Vince Cable, shadow Chancellor for the Liberal Democrats, has said that homeowners suffering negative equity need greater help. Cable has also criticised the banking system as a whole, he said that the system is failing to realise its lending
Families who have homes repossessed face six-year housing wait
As if the fear of losing your home as you slowly fall behind with your mortgage payment was not enough, there is now reports that families who have their homes repossessed because of defaulting on their mortgage payment, have been warned that they