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Tuesday, April 29, 2008

33,000 MORE HOMELESS

"Homeowners face the threat of soaring repossessions this year, with a 25 per cent increase in the number of properties expected to be seized by the banks and building societies as mortgage costs remain stubbornly high. According to a report today from the Centre for Economic and Business Research (CEBR), more than 33,000 borrowers will lose their homes once their fixed-mortgages, agreed prior to the credit crunch, come to an end and interest costs rise." (Observer, 27 April) RD

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