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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 27 Oct 2005 01:42:56 -0700 /

Author of the message: kuacou241@yahoo.com

Title of the message:
D Tel: Home repossession orders soar by 66 per cent as debt mounts

Text of the message:
Home repossession orders soar by 66 per cent as debt mounts
By Ian Cowie, Personal Finance Editor
Daily Telegraph
(Filed: 27/10/2005)
A rise of 66 per cent in repossession orders against home buyers across
the country was disclosed yesterday. Londoners were hit even harder,
with an 81 per cent increase.
Mortgage brokers blamed the expiry of cheap fixed-rate deals this year,
which caused some borrowers' monthly bills to rise sharply.
Repossessions graphic:
http://www.telegraph.co.uk/news/graphics/2005/10/27/nrepo27.gif
Lenders said that only a tiny percentage of borrowers was affected but
accountants said the figures were no surprise now that consumers owed
more than =A31,000 billion, exceeding the debts of Africa and South
America put together.
The figures were issued by the Department for Constitutional Affairs.
It said that county courts granted mortgage lenders a total of 19,687



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