House repossessions are are the rise, according to figures revealed by the UK Ministry of Justice,  due to the evident increase in court action house holders are having to attend.  A court case of this sort should be the very last resort.

Read on to find out what Shelter, for one has to say.

Shelter on house repossessions

Adam Sampson, Shelter’s chief executive, stated: “The worst fears of thousands of homeowners are now becoming a tragic reality. Mortgage lenders should be helping homeowners stay in their homes, but with some, it’s a case of miss a couple of payments and you’ll find yourself in court.”

So we are now looking at a similar history to the 1991 recession period when house repossessions were rift.  It appears that this time lenders are using court action earlier in the process rather than helping those in need to keep their homes.

BBC  on house repossessions

For the full report on house repossessions which the BBC conducted … and which also includes other agencies visit the link below

http://www.wsws.org/articles/2008/may2008/hous-m26.shtml

Conclusion on house repossessions

Dealing with a house repossession for an agency is depressing enough but for those going through that experience as individuals or families, it is a major event in their lives and hopefully one which they will never have to go through again.  The efforts of this are all encompassing, from health to mental health issues which arise entirely from the stress surrounding the sadness of having your home repossessed.

A repossessed house is also a sorry sight for all those living nearby.  In the main, it gives people no pleasure to have to walk past such a home, knowing that the occupants have fallen on such bad times.

Bearing in mind that the early 1990’s was such a traumatic time for those losing their homes, we have to wonder if house repossessions as a whole will ever be eradicated from the possibilities of yet another globalization economic disaster.