They're here. America's house repossession auctioneers

Get ready to throw those shoes, the most unpopular American export since George W Bush has hit our shores.

And according to The Guardian a couple of weeks ago, its then imminent arrival would spell the end of civilisation as we know it. That is if you call inflated house prices, gazumping and estate agents in Baby Bentleys civilisation.

The Real Estate Disposition Company, or REDC, has arrived in the UK and hopes to revolutionise the way we buy houses through the auction of knock-down repossessed properties. The action takes place over five days from March 31 to April 5 at a series of venues across the country.

Their bold advertising in the national press and on digital telly, as AuctionToday.co.uk has begun and earnest and those looking to move home are starting to sit up and take notice. REDC is handling the auction of more than 500 homes across Britain, with more than 130 in Manchester alone.

It would be hard not to notice the advertising because the advertising is RIGHT in your FACE. It's bold and loud, like the sort of adverts we are used to seeing selling sofas.

Some people have got themselves in a flap after scare stories from the States that REDC signs outside houses would have a knock-on effect on the price of other properties in the same street. It seems the absence of the gel-haired agent extolling the virtues of a rank three-bed semi with his eye on 3% commission is something we treasure. House auctions? Well, they're just not British. We have very few house auctions here, but in America and Australia, they are commonplace.

TENS OF THOUSANDS MORE HOMES TO BE REPOSSESSED?

Hundreds of thousands of homes have been "earmarked for repossession" a banking insider has leaked today , even though new reports suggest that struggling banks will be recieving yet more BILLIONS!

JUST WHERE IS ALL THE MONEY GOING?

its Not going to businesses, its not going to homeowners, its not going to fund new car loans. Can someone tell me where all the billions of pounds is going?

NEW MORTGAGE DEALS FROM NORTHERN ROCK ? THE TRUTH BEHIND THE HEADLINES!

So new mortgage deals have been announced from Northern Rock ..Backed by governent funding of hundreds of millions of pounds. So we are alll expected to shout hooray! Rour saviours they think.

BUT look again at Northern Rock and their behaviour towards mortgage defaults.and you will discover they have re-possessed hundreds of homes in the last 6 months and sold them on for profit.

NOW with their coffers full of blood money they get a pat on the back from the government and given hundreds of millions to loan.

Does anyone smell a rat here? Where was the help that was promised to existing mortgage holders who had problems? the government were all talk about the help supposed to be given by the government to the people facing eviction. And now yet again banks profit from the publics misery!

STOP HOUSE REPOSSESSIONS

2nd mortgage applications are being turned down in record numbers but the amount of people who apply for mortgages
is increasing even those with small arrears are finding it difficult to avoid repossession. This is due mainly
to the huge amount of bad credit mortgages given in the last few years to people with bad debt ccjs who wanted
to consolidate debts into one loan in a consolidation loan clearing debts from credit card balances. These people desperately
need debt management plans that offer an easy to impliment debt solution.

Help with debts and help with repossessions from the government have been talked about but have still not been implemented
leaving people struggling to find even affordable repossession advice.

So how does one get repossessions stopped ?

well in the first instance CONTACT YOUR CREDITORS its no use hiding your head under the blanket

GET REPOSSESSION ADVICE NOW whatever the cost it must be better than losing you home

STOP REPOSSESSIONS

The number of homes in the UK repossessed by lenders rose last year by 54% to 40,000, according to the Council of Mortgage Lenders (CML).

Despite the recession, the CML said this was fewer than it had originally predicted, but it expects repossessions this year will reach about 75,000. IN THE UK ALONE!

It said lenders were making "strenuous efforts" to ensure repossessions were a last resort.

But it also reported a sharp rise in homeowners handing back their keys.

"We strongly urge borrowers to contact their lender and work with them before taking this step, as there may be other solutions," said the CML's director general Michael Coogan.

"Borrowers are still liable for their debt, even if they leave the property, so working through their problems is much more likely to be in their best interests," he added.

2nd mortgage applications are being turned down in record numbers but the amount of people who apply for mortgages
is increasing even those with small arrears are finding it difficult to avoid repossession. This is due mainly
to the huge amount of bad credit mortgages given in the last few years to people with bad debt ccjs who wanted
to consolidate debts into one loan in a consolidation loan clearing debts from credit card balances. These people desperately
need debt management plans that offer an easy to impliment debt solution.

Help with debts and help with repossessions from the government have been talked about but have still not been implemented
leaving people struggling to find even affordable repossession advice.

So how does one get repossessions stopped ?

well in the first instance CONTACT YOUR CREDITORS its no use hiding your head under the blanket

GET REPOSSESSION ADVICE NOW ehatever the cost it must be better than losing you home

Arrears

The level of arrears among mortgage borrowers also became worse as the recession gripped the economy.

We're putting in place this comprehensive package of measures to try and reduce the risk of repossession as much as we can

Iain Wright, Housing Minister


Dealing with the threat of repossession in England and Wales
Dealing with the threat of repossession in Scotland

By the end of last year, 182,600 mortgages had arrears worth 2.5% or more of the outstanding balance owed to the lender.

That amounted to 1.57% of all mortgages currently in existence.

That was up sharply from the 1.08% of mortgages with this level of arrears at the end of 2007, and the 1.29% of mortgages in this position at the end of September of 2008.

Housing Minister Iain Wright said the government had announced several initiatives designed to provide tailored support to people who risked losing their homes.

"For every repossession, it's a tragedy for somebody - for a family or household - so we have to continue to be focused and determined to minimise as much as possible the risk of repossession," he said.

"That's why we're putting in place this comprehensive package of measures to try and reduce the risk of repossession as much as we can."

But shadow housing minister Grant Shapps said the government was partly to blame.