'Hidden repossessions' mask true extent of rate rise

Moore Blatch estimate the number of people forced to sell their homes could be equal to the numbers that are actually suffering repossession. This means the total number of people losing their homes because of interest rate rises could be as high as 35,000 in 2006. The Department of Constitutional Affairs figures show that a total of 89,857 Court possession orders were made in 2006, the highest figure since 1993. However, only 19% of claims resulted in repossession, compared with 56% in 1993. Moore Blatch speculate that the continued buoyancy of the housing market means that many homeow...