• From The BBC:

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    Homeowner faces repossession
    The number of homes repossessed in the UK fell 10% in the second quarter of the year compared with the previous three months, lenders say.But the 11,400 homes repossessed was a rise of 14% compared with the same period the previous year, the Council of Mortgage Lenders (CML) said. The group said early advice for struggling owners, low interest rates and tolerant lenders were helping. But rising unemployment could soon leave more householders in difficulty. ArrearsLow interest rates also meant that the number of homeowners falling behind with their mortgage payments had also levelled off.
    The number of home loans with arrears of more than 2.5% of the mortgage balance in the second quarter of 2009 was 205,600. That compared with a total of 203,900 at the end of the first quarter, and 139,700 at the end of the second quarter of 2008. However, separate figures from the Ministry of Justice gave a h…

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    Posted by Jon @ 2:22 pm

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