Tue, 05 Aug 08
A couple who lost their home after failing to keep up with their mortgage repayments have been forced to live in a shed, in one of the worst cases to emerge from the recent increase in home repossessions.
Philip and Debbie Galloway, of Hartlepool, County Durham, made the dramatic move after losing their semi detached home in June, according to the Daily Telegraph.
They told the paper that the shed, which is on a relative’s allotment, was a better option than the “run down” houses they had been offered by the local council.
Mr and Mrs Galloway, whose six children are staying with relatives, said that one home being offered did not even have running water.
The couple’s plight comes after the Council of Mortgage Lenders predicted that the number of repossessions will rise sharply during the year.
The CML estimates that by the end of the year there could be as many as 123 repossessions a day, a massive increase on the current tally of 74.
See Also: Home.co.uk: Mortgages
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