A spot of repossession news: Unsurprisingly, the number of people who lost their homes in 2009 was 15% higher than in 2008, according to Financial Services Authority (FSA) figures. In total, 54,055 were unable to stop repossession during the year, a rise from 46,945 in 2008.
There is some good news though, as well as coming out of the recession in the final quarter of ‘09, there was also a drop in the number of repossessions and the number of people who were unable to keep up their mortgage payments. In total 11,800 homes were repossessed in the final three months of ‘09, a rather considerable 15% fewer than during the previous quarter.
Tags: avoid repossession, house repossession, repossession order, stop repossession