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A new era for the housing market?
The Bottom Line
Downsizing
Before a bank can repossess, it has to go to the court. And in my experience is that if people are demonstrating good will and paying something, judges are reluctant to go out repossession. So I think a lot depends on whether people see this as a temporary problem that they can get over or whether it's a permanent solution which may well be selling their property. Downsized in has been very popular in the past two years - predominantly people moving to release equity in their property.
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