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Hotspot for losing home
Struggling homeowners in Corby are being urged to seek help to hold on to their houses after the town was named as one of 22 hotspots in the country for repossessions.
Residents threatened with action from their lender or court appearances for arrears will be offered advice and personal action plans to cope with their financial problems.
The Government launched its national campaign yesterday, which will see advertisements put up in Corby telling people how they can get help.
Corby has the highest rate of repossessions in the East Midlands, with 2.4 people per 1,000 households losing their homes.
Latest figures from the Council of Mortgage Lenders show there were 11,400 repossessions in UK between April and June this year, a 10 per cent drop on the previous quarter.
But more than a quarter were voluntary, with people who handed in the keys or abandoned their home instead of seeking help.
Corby and East Northamptonshire MP Phil Hope said: "I know some of my constituents could face losing their home without extra help. Thankfully there is a lot of help out there and this campaign is about ensuring people are aware of that. The worst thing people can do is bury their heads in the sand."
Part of the Government scheme is a 130m investment in providing free face-to-face debt advice services at Citizens Advice Bureaus between 2006 and 2011.
Lenders must also prove they have exhausted every option before applying for a repossession order.
Cathy Hunter, 54, of Trent Road, Corby, said: "I'm a homeowner and have a job but you can only be two wage slips away from losing your house. You just don't know what can happen. This advice will give people help and a lot will need it."
Ryan Mahoney, 23, from the Lloyds estate, said: "We can't afford to buy a house at the moment but I welcome more help for when I decide to buy a house."
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Sunday 27 May 2012
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