House Repossession Assistance

People behind with payments on their homes have a new way of finding the best solution to their arrears problems. These new animated videos, interview clips and articles, created by the Ministry of Justice and available on Directgov, go from the point where there may be a problem, to communicating with landlords or mortgage lenders, how to prepare for court and what happens during and after a court hearing. The full articles and information can be found at www.direct.gov.uk/mortgagearrears and www.direct.gov.uk/rentarrears
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The number of repossessions hit a 14-year high in 2009, new figures have revealed. Research from the Council of Mortgage Lenders (CML) found that the total number of possessions rose to 46000 in the last year. This is 15 per cent up on 2008. However, things appear to be looking up the study found that mortgage debts decreased in the final quarter of the year. The CML predicted that there would 205000 arrears cases in the coming year with 53000 possessions. Kevin Still, director of EuroDebt, said that “the CML figures suggest that homeowners with low levels of mortgage debts have been helped by low interest rates”. He added, however, that “those with more serious debt problems may have only stabilised their mortgage arrears, with lender forbearance a factor in keeping them in their homes. “Long-term debt solutions may be required if this delicate balance changes,” he said.
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