House Repossessions up Two Thirds in a Year
Home repossessions rose 68% in 2008 as the economic downturn left many homeowners struggling to pay their mortgages.46,750 properties were repossessed in total, up from 27,900 in 2007.
People behind in their mortgage payments was also up in the last quarter of 2008. 68,000 more people got in arrears in the last quarter, up 13% from the previous quarter, with a total of 377,000 homeowners in arrears, 31% higher than in 2007.
When mortgage companies repossess homes, they often sell at far less than the actual market value, so it's crucial that if you're falling behind in mortgage payments that you talk to your provider asap. If your lender has already started repossessions proceedings against you, it is still not too late to do something about it - call quickmovenow.com. As the UK's leading quick house sale company, we can buy your house quickly, helping you clear your mortgage arears and helping you move on without a damaged credit history.
Call quickmovenow.com now on 0800 068 3366 and see how we can help you.
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