Wednesday, June 2, 2010

Kiwis losing four homes a day to mortgagee sales

New mortgagee sales figures show ordinary Kiwis are losing their homes at a rate of four a day, as the effects of the recession still linger.

Terralink International's latest data shows there were 202 registered mortgagee sales in March of this year, and two thirds of the affected properties were owned by private homeowners.

At the height of the recession it was largely companies and property investors who were facing mortgagee sales.

But a year on Terralink Managing Director Mike Donald says it's now mums and dads who are unable to make payments on their family homes.

“Increasingly we’ve got mum and dad homeowners that are now struggling, for instance they have lost their job, haven’t been able to secure another job, run out of capital; it puts pressure on trying to pay that mortgage.”

In March there was an average of six mortgagee sales a day.


No comments:

Post a Comment