The Human Tragedy of Repossessions

Fri, 27 Aug 2010

Last week the Council of Mortgage Lenders lowered its forecast for the number of UK repossessions .

It revealed that within the first quarter of 2010, 9,800 homes were repossessed, with that figure falling to 9,400 in the second quarter.

It estimates that "just" 39,000 properties are likely to be repossessed in 2010.

That means 14,000 fewer homes are likely to be repossessed in 2010 than the previous forecast of 53,000.

Nonetheless, the human cost of 39,000 repossessed properties is immense; it is 39,000 too many.

Families are being ripped assunder due to repossessions . Children and parents are not living in the most conducive circumstances for healthy upbringing and family living.

All the years of living in a family home come to a sudden halt for so many families, with devastating consequences. The pressures on parents mean that many split up and children are also left dealing with the consequences of losing the only home they knew. The stability and continuity a family home provides is being brought to an abrupt halt.

Repossessions cause human tragedy, headache and trauma.

This is all happening whilst the UK government seeks to half mortgage benefit payments and tries to place more pressure on the UK banking industry to ensure greater finance is available.

Surely the government should reconsider reducing mortgage benefit payments by half.

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