From The Debt Advice Bureau:
Home Repossession Orders Soar 66 Percent
19,687 mortgage repossession orders were issued in England and Wales
in the three months ending September, a massive 66% increase on the
same quarter last year, according to figures released by the
Department for Constitutional Affairs.
The figure is the highest since the third quarter of 1993, back in
the dark days of the property recession and is far removed from the
low of 9,616 experienced in the first quarter of 2003, just 30 months earlier.
The number of possession orders being issued has been increasing
since the early part of 2004 and the trend is expected to continue
with the expectation that the 25,000-orders-issued mark could be
breached by the end of March 2006.
Don’t Panic Just Yet
Things may be getting worse, but it…
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