46,000 Repossessions and This Figure is Set to Rise!
It is one of the unfortunate facts of life that when a deep recession strikes our economy, there are always going to be unfortunate homeowners who lose their abodes through the distressing process known as repossession. The current recession has not proven to be any different and indeed the figures that recently have been announced for repossessions last year have been even more shocking than previously anticipated.
During 2009 there were 46,000 repossessions across the country and what is even more worrying, this figure is predicted to rise to a shocking and unforgivable 53,000 during 2010. Last year’s figure was the highest recorded in fourteen years and there are many organisations calling for action by the Government to try and reduce this number.