Repossession is neither nice nor fair | Business | guardian.co.uk
The man running the bad banks of Northern Rock and Bradford & Bingley has warned that rising interest rates could result in a "tsunami" of repossessions that could revive memories of the 1990s when the courts were clogged with repossession orders forcing families out of their homes.
Richard Banks says the policy of forbearance might be "nice" for homeowners who are behind with the mortgage but it is not "fair" to let them fall further into debt.
The director of UK Asset Resolution (UKAR) has a point but it is not going to be nice or fair for those families ....
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