New figures from the FSA report that there is one mortgage repossession approximately every ten minutes.
A mortgage expert for Think Money commented: “In an economic downturn, it’s to be expected that repossessions will rise, but homeowners should be aware that there are often things they can do to reduce the chances. First and foremost, we advise them to contact their mortgage lender and explain their situation.”
Tags: mortgage, mortgage repossession, mortgages, repossession
