Victorians risk losing homes

西边雨

http://www.news.com.au/heraldsun/story/0,21985,19811033-661,00.html

eshao

老西，帖子被移掉了。以后还是直接贴文章吧。

baolqun

Karen Collier

July 17, 2006 12:00am
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THOUSANDS of Victorians risk being thrown out of their homes for falling behind on loan repayments.

Almost 3700 Victorians -- or 20 a day -- have been hit with property repossession warnings in the Supreme Court this year already.

This is on track to triple last year's total.

Easy credit, soaring petrol prices and tight household budgets have been linked to a surge in struggling homeowners being threatened with eviction.

The figures came as home buyers attended 400 auctions statewide on the weekend amid signs of another real estate boom.

Despite this, financial counsellors said many homeowners were living on the edge -- and warned of more pain amid a tipped rate rise next month.

Australians owe a total $753 billion on home loans.

A .25 per cent interest rate rise would add $14 a fortnight to the average $222,000 loan over 25 years.

First-home buyers in Melbourne's outer suburbs were hurting the most, said financial counsellor Jan Pentland.

"Some load everything on credit, juggle up to 10 cards, and fail to take into account council rates and other bills you don't have when renting," she said.

"All it takes is an interest rate rise, an unexpected illness, a job loss or huge petrol bills and it can all go pear-shaped."

Consumer Credit Legal Service manager Carolyn Bond said no-deposit deals aimed at cash-strapped customers could backfire.

"We have seen an explosion in last-resort lenders preying on customers no one else will take because of the risk," she said.

Supreme Court of Victoria figures show lenders lodged 3695 writs from January to June this year against mortgage payment stragglers.

This compares with 2581 for the whole of last year and 1772 for all of 2004.

Not all these customers are ordered out of homes. Some pay their debt or refinance.

Ms Bond said some people were taken to court for falling as little as two months behind in repayments.

She accused some finance brokers of reaping commissions by securing loans for people who could not afford them. Tougher laws were needed to crack down on irresponsible lenders, she said.

Mortgage Industry Association of Australia chief executive officer Phil Naylor said the vast majority of borrowers coped.

"Australia's percentage of defaulters is one of the smallest in the world," Mr Naylor said.

However, recent research suggested one in six home buyers would be uncomfortable if interest rates rose.

Australian Bankers Association acting chief executive Ian Gilbert believed lenders other than banks were more likely to launch legal action.

Banks tried to change repayments to help customers suffering temporary difficulties, he said.

Mr Gilbert said 0.3 per cent of bank home loan customers were in arrears by 90 days or more in December last year.

This compared with a 4.5 per cent default rate for non-bank lenders.