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Repossession

NAAA
NAAA Posts: 2 Newbie
in House buying, renting & selling
Anyone in this position due to the market?

Comments

  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Why do you ask?
  • david29dpo
    david29dpo Posts: 3,984 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Loads, according to the tele.
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    Plenty within 6 months I reckon .......
  • mpsavuk
    mpsavuk Posts: 296 Forumite
    I'm not in any danger of being repossessed. Could be something to do with the fact that i'm a renter!
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    Due to which market?
    Do you mean the property market or the mortgage market?

    No one ever got repossessed due to either, they got repossessed becuase they didnt put enough money away to coevr all eventualities (that means not even buying a home until say 6 months money put by just for future emmergencies)
  • BMWobbleU
    BMWobbleU Posts: 82 Forumite
    NAAA wrote: »
    Anyone in this position due to the market?

    According to the Council of Mortgage Lenders, 17000 homes were repossessed in 2006, up 65% from 2005, equating to roughly 1 in 690 mortgages. CML is predicting 19000 repossessions in 2007 and 20000 homes in 2008.
This discussion has been closed.
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