It appears that “good news” is emerging from the latest statistics issued by the industry pressure group itself the Council of Mortgage Lenders.
As opposed to OVER ten thousand repossessions being issued in the quarter before the most recent quarter , the new figures ‘show” repossessions being UNDER ten thousand, with the ‘impressive’ statistical twist that home repossessions are DOWN 7.5%.
This is excellent news.
Obviously not so good for the families falsely evicted…that goes without saying, but a nice bit of spin for the media to play with, good news for the newly cobbled together government and last, but most certainly not least, a nice bit of spin for the predatory CAPSTONE themselves. They will possess your home, plunder your equity, and get a gong from the Queen for having done all that excellent philanthropic work they do.
For those who missed the “good news” here’s a link
NOW COMES THE HEALTH WARNING.
THE CML FIGURES ARE AN EXERCISE IN CORPORATE communications and spin
The figures serially underestimate the real scale of repossession action. The repossession figures will typically only reveal 1st charge repossessions, will not reveal how many repossession claims are brought in relation to 2nd charge mortgages which are prevalent in the sub-prime sector, will not reveal how many possession claims are “in the pipeline” and will also never fully disclose the vast quantity of suspended possession orders which are waiting now to be converted, all too easily, to full possession orders.
Capstone are on a repossession overdrive. They want your last remaining liquidity. They want to bleed you dry and throw you and your family to the wolves.
So when the spin merchants fill your favoured news sources with their press releases don’t believe a word.
It’s all spin…