Homeowners at risk of losing there property due to repossession need a new safety net, a charity said today. The Joseph Rowntree
Foundation said “if the economy were to experience similar circumstances now as those it
faced in 1992 at the peak of the housing market collapse, almost 25%
more home owners would be at risk of repossession.” A report published by JR foundation on 5th March 2008 recommends implementation of the Sustainable Home Ownership Partnership (SHOP)
scheme, a partnership between Government, lenders and borrowers,
providing a much cheaper form of insurance than similar private
insurance products currently available.
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