Monday, 16 June 2008

Home repossessions can be avoided: CHOICE

The consumer group CHOICE says some home repossessions could be avoided if people were more aware of their rights.

CHOICE says people facing repossession can often apply for an extension on their home loan.

Spokesman Christopher Zinn says many people do not realise they are allowed to make the application.

"It depends on the loan and the lender but at least it does give people other options, other options which at present they may not be aware of," he said.

"If people are going to be missing a repayment on their home loan the first thing they should do is contact their lender and ask what kind of hardship variations are available.

"They should also seek help from a financial counsellor and if more people did this earlier on in the piece there's no doubt there may well be fewer repossessions."


NSW feels the deepest jobs cut

MORE than 17,000 NSW workers left or lost their jobs last month in the worst labour market reading in years, fuelling fears the state will suffer the brunt of the coming economic slowdown.

Welfare services under strain: survey

The number of people accessing community services is on the rise, a new survey shows.

Report warns new wave of homelessness
State and federal governments are being warned of a new wave of homelessness threatening disadvantaged families.

When pain persists, they arrive
People are still angry when they lose their houses, but he notices that "people nowadays seem to think, when they take a loan, that it's a risk and that if they take the loan they might end up losing their house".

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