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Just six families helped to stay in their homes

Just six families in England have been helped by the government's mortgage rescue scheme.09-07-2009
 In January £200 million was set aside to help families facing immediate repossession to stay in their homes. In April, an extra £80m was added and the scheme was widened to include homebuyers whose homes were worth less than the amount they had borrowed on the mortgage. Housing associations can buy homes from people who can’t keep up their mortgage payments and they can go on living there and pay. The government hoped the scheme would help up to 6,000 households and says another 200 families have received interim support and a further 295 cases are being considered. But critics say the vast majority of the people who have applied have been told they’re not eligible, the scheme is working too slowly and the number of homes repossessed could reach crisis point unless the Government does more to help.  

Scotland, Wales and Northern Ireland have or will have similar schemes.  

If you are having problems making your mortgage repayments get advice from your local advice centre or CAB. You can find details in your phone book or click on ‘links’ on this site. There are also factsheets on repossession, debt and negative equity in the 'Factsheets' section of this site.

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