Repossession News, Advice on Having Your House Repossessed
May 31st, 2010
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Housing market: Seller numbers ‘outweighing buyers’
LONDON (Reuters) – House prices showed 1.0 percent fall in February, ending a run of nine consecutive monthly increases, figures from the Nationwide Building Society showed last Friday.
Analysts had forecast an increase of 0.4 percent for the month, Nationwide said it was too early to say if the figures were the start of a new trend or a temporary blip.
In light of low growth in household incomes and elevated levels of unemployment, houses prices were beginning to move ahead of the recovery in general economic conditions, said Martin Gahbauer, Nationwide’s Chief Economist.
With the longer term stability of the market in mind, it would be a positive development for house prices not to become decoupled from the economic fundamentals, he added.
A pause in the upward trend will also be a relief to potential first time buyers who are no longer benefiting from the stamp duty and for whom affordability had begun to deteriorate again over the course of 2009.
The annual rate of inflation increased from 8.6 percent to 9.2 percent, because the price decline in February was smaller than the 1.5 percent fall 12 months ago.
According to provisional data, the British economy crawled out of recession in the last quarter of 2009.
The country’s housing market had recovered quite swiftly from sharp falls seen in 2008 and early 2009, helped by record low official interest rates and a shortage of properties coming on to the market.
Nationwide said the average price of a property sold in February was 161,320 pounds.
Court protocol strengthens repossession rights | News | Inside Housing
Homeowners threatened with repossession are to receive stronger legal protection.
Miners bounce back from loss to win series | House Repossession
Miners bounce back from loss to win series MARION — The tension that erupted on the field Saturday night at Rent One Park didn’t hang over until the next.
FOX6 News: Woman catches self on fire while burning repossessed car
On May 8th, 26-year-old Haleigh Elizabeth Boland poured gasoline on her former vehicle at the residence of the victim, who had recently repossessed the vehicle.
News: New Repo Men Restricted Cut Trailer | Latino Review
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Repossessed renters to get new rights | News | Inside Housing
The government has laid down plans to give private rental tenants greater protection if their landlord defaults on mortgage repayments.
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