The Birmingham Post has reported that in 2008 the number of Repossession Houses has soared up by a mammoth 68% in comparison to figures from 2007. This is expected to create further home repossessions in 2009. The Financial Services Authority have stated that “borrowers were increasingly struggling to clear their arrears, and this led to the total number of people who were behind with repayments steadily increasing since early 2007.” You can read about it here.
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