New EU law could trigger rise in house repossessions
A clause in the draft European Mortgage Directive proposes that all home loans in the EU that are 90 days in arrears must be declared in default and an order for repossession issued. In the UK, current rules allow borrowers up to 180 days before …
Read more on CreditChoices.co.uk
Foreclosures cut home sale prices
In Georgia where nearly 34 percent of all house sales during the third quarter of 2011 were of foreclosed homes, the typical home in some stage of foreclosure or bank repossession sold for nearly 48 percent less than comparable homes not in foreclosure …
Read more on Chattanooga Times Free Press
First family to avail of debt deal will lose house but save home
GE Money, which no longer offers loans in this market, had got an order for repossession in the High Court and was about to repossess the house. The lender had given the family a loan of €240000 in 2006, in an offer which included the mortgage and …
Read more on Irish Independent
Related posts:
