The other week we had the bailiffs round. Not calling for us – the Church of England isn’t in such a bad state yet. Sadly asking about our next door neighbour who disappeared at the end of February after telling us he was going on holiday.
The following morning the bailiffs were here again, breaking in next door and going to repossess two doors down too. That makes the fourth house in our development of forty or so houses that have been claimed back by lenders.
Wolverhampton has one of the highest rates of subprime mortgages in the country. It’s been so sad to see what’s happened to our friends, who have been trapped by plummeting property prices so they can’t even sell up and go back to renting.
This week the repossessed house next door got its ‘For Sale’ sign. It joins around five or so in the close that are up for sale. If you’re looking for a bargain priced property near to a good bible-teaching church and an excellent church primary school, this is the place to look. A two bedroomed terraced house on the road up from ours sold for £60,000. Just don’t get a sub-prime mortgage…
The Vicar's Wife 
[…] December, 2008 by thevicarswife After the recent repossessions on our street, we are seeing the recession in action in our […]
[…] December, 2008 by thevicarswife The house next door has been sold at auction after it was repossessed. Our neighbour who is on the case with these things found out the price from the auction house. It […]