Governments should help with mortgages to avoid prolonged slump

Posted by & filed under Borrowing & debt, Business, Economics, Financial crisis, Financial sector, Global economy, guardian.co.uk, IMF, Money, Mortgage arrears, Mortgages, News, UK news, United States, World news.

Rapid buildup of household debt during boom leads to deeper downturn when bubble bursts, World Economic Outlook arguesGovernments should step in to help struggling households write off part of their mortgages in the wake of a financial crisis to avoid …

More must be done to help those facing house repossession

Posted by & filed under Comment, guardian.co.uk, Homelessness, Homes, Money, Mortgage arrears, Mortgages, Recession, Repossessions, Society, UK news.

Every two minutes, someone in the UK faces losing their home. Proper advice and support must be there for those who need itFather-of-three Peter Levenson is struggling desperately to hold on to his home. The former owner of a successful plumbing busine…

Mortgage arrears and repossessions set to rise

Posted by & filed under Borrowing & debt, Business, Financial Services Authority (FSA), First-time buyers, guardian.co.uk, House prices, Housing market, Money, Mortgage arrears, Mortgages, Negative equity, News, Property, Repossessions, UK news.

Council of Mortgage Lenders’ forecast for 2012 predicts a deterioration in number of borrowers behind on their mortgages, and greater pressure on household budgetsRising unemployment and increased pressure on household budgets will lead to more borrowe…

Home repossessions fall, but UK faces ‘arrears timebomb’

Posted by & filed under Borrowing & debt, Business, guardian.co.uk, Housing market, Money, Mortgage arrears, Mortgages, News, Property, Repossessions, UK news.

Mortgage experts warn of lenders losing patience and threat of an interest rate increaseThe number of homes being repossessed fell by 1% in the second quarter of the year to 9,000, compared with 9,100 in the first three months of 2011, according to the…

Bank chief warns of wave of home repossessions if rates rise

Posted by & filed under Borrowing & debt, Business, Economics, Housing market, Interest rates, Money, Mortgage arrears, Mortgages, News, Property, Repossessions, The Guardian.

UKAR chief presiding over £80bn of bailed-out mortgages says ‘tough love’ would be fairer on those struggling with paymentsBritain is facing a ‘tsunami’ of house repossessions as soon as interest rates start to rise, one of the country’s leading banke…