10 ways to deal with worries about your mortgage

Mortgage rates are on the rise again – and, as banks struggle to come to terms with turmoil in the global money markets, home owners are struggling to keep pace with the growing cost of their mortgages. According to a recent study, more than 1 million people are resorting to using high interest credit cards to cover their mortgage payments leaving them at risk of eviction or repossession.

Repossessions rose 65 per cent during 2006, according to the Council of Mortgage Lenders, and are expected to escalate as people come to terms with household debt which is now running at 150 per cent of average annual income. But losing your home isn’t inevitable, even if you’re having trouble making your mortgage repayments. Here are some ideas that could help you to keep the roof over your head. 1. Speak to your mortgage lender – they will do their best to help.

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