Arrears in payments for housing
Other Names: Arrears in rental payments
Arrears in home loan payments
Arrears in mortgage payments
Incidence: In the UK in 1989 it was reported that the number of households between 6 and 12 months in arrears on mortgage payments rose by 29% to 58,380, although the number of people failing to keep up monthly mortgage payments could be 10 times that amount. No official figures were available on arrears of less than 6 months, but according to some estimates between 6 and 7% of customers, approximately 450,000 to 600,000 families could be 2 months in arrears.
Problem Type: E: Emanations of other problems
Date of last update 16.02.1999 – 00:00 CET