FoI in Australia: House owners threatened with eviction notices

FoI in Australia: House owners threatened with eviction notices

The housing market slump has hit Australia, with banks and other lenders using strong arm tactics to scare homeowners who fall behind on their mortgage repayments - by threatening to throw them out on the street.

The mortgage finance sector won 4000 writs of possession in the New South Wales Supreme Court last year, giving them the right to repossess properties of customers behind on loan repayments.

But after putting those homeowners through the stress of believing they could become homeless, almost 2500 were able to save their houses from being lost at fire sales across Sydney.

An analysis of 4000 writs of possession issued in 2007, obtained under Freedom of Information laws, revealed only 1580 of the writs were executed.

Eviction threats scare homeowners (news.com.au, 7 June 2008)