Repossession of property
Other Names: Mortgage debt
Default on time payment agreements
Overcommitment to hire-purchase
Incidence: In the UK in 1991, the number of repossessions of homes was estimated to reach 15-25 times the level in the depths of the economic slump ten years before. In some areas repossession was up almost 50% on 1990 figures and accounted for one in five to one in three property sales.
Problem Type: D: Detailed problems
Date of last update 29.06.2018 – 16:14 CEST