Evicted Family Lives In A Car
A desperate family with a baby on the way are living in their car after their home was repossessed because they could not afford mortgage payments.
A couple became the latest victims of Britain's credit crunch when they could no longer afford to pay their $125,000 mortgage.
Laura Whitney, aged 28, who is four-months pregnant and her partner Richard Webster, 32, have spent the last two weeks crammed in their family saloon with children Jessica, seven, and Jack, two.
The family could no longer pay their mortgage, which has an interest rate of 10.9 per cent, when their sub-prime lender increased payments by $360.
They were forced from their house at Batemoor, Sheffield, and moved straight into their car.
Laura claims her family had not been given priority for housing by the local council. They were turned down for private-rented housing because the repossession gave them a bad credit rating.
Increasing payments strained the family budget and in December, Laura and Richard had to choose between a mortgage payment and buying Christmas presents for their children.
Laura's former husband agreed to lend them the money for a month's installment, while she contacted the Citizens' Advice Bureau who advised her to ask for an interest-only mortgage. It took two further months for the mortgage provider to respond and they refused the request.
Labels: Debt, Sub-Prime Mortgages
Posted By: Joe on Monday, August 04, 2008
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1 Comments:
Seems like they only went to one source for as renting
They have not seeked out other options!!!!!!!!!!
A car will not even by one of my choices
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