Mortgage Rescue Network - New Study reveals 75% of repossessions could accept been abhorred if homeowner had acceptance to basal advice

A new abstraction by the Mortgage Rescue Network predicts that 25,000 repossessions could be abhorred in 2008 if the homeowners accept acceptance to basal advice, acknowledged aegis and support. Almost 53,000 individuals - from toddlers to pensioners will be fabricated abandoned unnecessarily because the accepted acknowledged arrangement is overlooking some of the a lot of basal protections accessible to homeowners.

The abstraction conducted in 2007 by the Mortgage Rescue Network in the UK accent that a lot of homeowners were evicted as a aftereffect of accepting blind of their acknowledged rights, accepting bad admonition or artlessly not accepting the a lot of basal of abutment at a time if abounding were accessible or too afraid to crop action.

Phil Martin, Director of the Mortgage Rescue Network adds: The a lot of important affair you, as a homeowner, have to do is about-face up for court. Repossession have to not be acclimatized as an inevitability. County Court is not an alarming copse lined hall, it is a baby breezy appointment and you will be affably encouraged by the adjudicator to acquaint your ancillary of the story.

As a aftereffect of the study, the Network is lobbying government to act now to abstain a acknowledgment crisis in 2008. Their recommendations include:

1) The accouterment of a assignment adviser in cloister for all homeowners.
"If a bandit blanket a backpack of chewing gum and was arrested, they would accept added aegis in cloister through the attendance of a assignment adviser than anyone who could accept agilely paid their mortgage every ages for years" states Phil Martin. "Unfortunately our arrangement is set up to assure abyss added than homeowners who could accept artlessly collapsed on harder times".

2) Access to bright advice and advice.
Most repossessions can be chock-full even if an boot accreditation has been issued. We badly charge to brainwash humans about the anatomy N244 which allows homeowners a endure minute emergency hearing. At this endure minute audition and even after lenders agreement, the adjudicator can authorise a new adjustment to accord arrears by instalments or by capitalisation. If an adjustment would be unsustainable a adjudicator can append the accreditation and acquiesce time to sell.

3) An burning analysis of allowances accessible to homeowners in banking hardship.
A government addition to mortgage absorption is available. But why is it alone accessible afterwards 9 months of unemployment? Why does it alone awning absorption up to £100,000 of borrowing, if an boilerplate UK home costs £200,000? Why do lenders foolishly add this arrears in payments to the arrears antithesis instead of, to the capital. This practise makes acknowledgment anon afterwards a allowances affirmation is approved, about inevitable.

4) Why accept Mortgage Lenders, Housing Associations and Councils abandoned their Mortgage Rescue Schemes?
Such schemes were boundless and accessible throughout the 1990's, but accept abundantly disappeared. There is a amazing charge for Mortgage Rescue or Sell and Rent Back schemes. Some Buy to Let Investors and Private Investment companies accept afresh committed to accouterment this lifeline. Potential abetment for atrocious homeowners is belted about by Housing Benefit adjustment 9(1)(h) which exempts Housing Benefit payments, in the majority of cases, from accepting fabricated to above homeowners for 5 years in the aforementioned property.

Contact Info:
Phil Martin
Mortgage Rescue Network
25 LONG AYRES
CALDECOTTE
MILTON KEYNES
MK7 8HF
0800 8778 374
www.MortgageRescueNetwork.com
email: phil@mortgagerescuenetwork.com

The Mortgage Rescue Network exists to accommodate added options for homeowners who are at accident of repossession.
The Network has been accustomed to annul the unacceptable acceleration in repossessions in the UK.
The Mortgage Rescue Network, apparently for the aboriginal time, brings calm a affiliation of Long Term Property Investors, including rent-back and acknowledgment specialists, as able-bodied as FSA Authorised Mortgage Brokers, Letting Agents, Estate Agents and Debt Councillors.
Most of their plan is not accountable and not for profit.