There doesn’t seem to be any good news on the homeowner front these days, even though the Bank Of England interest rates are at an all time low and house prices have reduced considerably also.  This latest piece of news, released by the media last week including the Sunday Express, is now reporting a huge increase of repossessions even though there have been agreements by Gordon Brown and the banks to help homeowners get through these difficult times.

The period from July to September saw an increase of repossessions of 92% compared to the same time in 2007. Of course as many job cuts have been announced since then, there is a real worry that the next set of figures will be even worse. Even though some safety measures have been announced to help those who forfeit on their mortgage keep their homes, there have been comments that they are not enough to help many homeowners through this time.

Gordon Brown has also announced another rescue plan to get the banks lending to people and businesses once again. One of the measures to help the mortgage market was guarantees for mortgage backed securities. However this scheme will not start to April 4th the tax year.

For most home owners the current situation is becoming too complicated to understand, in a world where we were brought up to never spend beyond our means, we are now being told that the economy is struggling because no one is lending to anyone and the vast amount of tax payers money is being invested to stimulate the money lending market.

The confusion is increased as financial experts just don’t seem to want to agree and the “we will work together” attitude of the political parties seems to have diminished as conservative disagree with Labour’s policies and in fact has suggested he could bankrupt the country