Printer Friendly

The Journal: Homeowners need help, not threats.

THE big rise in the number of house repossession orders in the second quarter of the year highlights the challenges facing thousands of families in the current economic climate.

Housing Minister Caroline Flint may console herself with the fact that repossessions are not yet touching the levels witnessed in the early 1990s, but the trends suggest it may only be a matter of time.

Most worryingly, there is plentiful evidence that mortgage lenders are turning to repossessions as a first rather than last resort, leaving many hard-working families facing the prospect of losing their homes. Shelter says it is seeing more and more cases of lenders showing little compassion or patience in dealing with these cases.

The Government has repeatedly stated that it wants to support those people who, through no fault of their own, are struggling to make ends meet thanks to the growing cost of everyday living.

Sadly, the message does not appear to be reaching the mortgage lenders. This is something that must change.

The Government's recent pledge to provide emergency legal aid to those who face the threat of losing their homes is certainly welcome, but it is a shame more constructive steps cannot be taken to avoid families getting in such a predicament in the first place.
COPYRIGHT 2008 MGN Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Leaders
Publication:The Journal (Newcastle, England)
Date:Aug 16, 2008
Words:212
Previous Article:Youngsters risk lives messing around with electric floats.
Next Article:The Journal: Jim stands up to thugs.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters