20/11/2007

Fifty Repossessions Underway

An average of seven families could be losing their homes every single week in the run-up to Christmas due to difficulties meeting rapidly rising mortgage repayments.

Reports this morning say more than 50 repossession proceedings have begun in the High Court since the start of October.

However, the courts have put a stay on most repossession orders to allow the homeowners time to sell their houses or make new financial arrangements.

(BMcC)

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