MSE News: Home repossessions down but we're 'not out of the woods'

Former_MSE_Guy · 12 August 2010 at 12:35PM

This is the discussion thread for the following MSE News Story:

"Fewer people are expected to lose their homes this year after mortgage lenders today reported a decline in seizures ..."

Read the full story:
Home repossessions down but we're 'not out of the woods'

Angiepange · 12 August 2010 at 1:13PM

I hope the Government does not get rid of the Mortgage Rescue Scheme.

I have experienced a long battle to get through this scheme, https://forums.moneysavingexpert.com/discussion/1930931 which has been far from easy, but with the alternative being repossession, I am just praying we are able to complete soon and the rescue does not fail.

Percy1983 · 12 August 2010 at 2:18PM

I have split views on the rescue scheme.

For people where things have changed (job loss etc) then its fair enough and help them. But on the flip side I have no sympathy for those who have just overstreched themselves and got mortgages they never really could afford and racked up debts etc.

Basically how many of the self-cert and liar loan mortgages are now in trouble?

The_Thrilla · 13 August 2010 at 1:42PM

I have been listening to a few American internet radio stations. What they are reporting is that there are people still living in their houses where they have not made a mortgage repayment for about one and a half years, and the lenders have not bothered to turf them out of their homes. They are also saying that surveys have shown them to be going out to dinner again, buying clothes, maybe another car. If people here want to do that as well, good luck to them...just so long as I don't have to pay for it.

MSE News: Home repossessions down but we're 'not out of the woods'

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