Significats de repossess homes en anglès

Legal action to repossess homes with mortgages in arrears dropped again last year, according to Courts Service figures.

It also called for reformation of Irish bankruptcy law to make it easier for banks and lenders to repossess homes.

Bank of America had temporarily halted foreclosures nationwide last fall after it found problems with the documents used to repossess homes.

But the crash came and people couldn't make the payments so bailiffs turned up to repossess homes and locksmiths to change locks.

Joe Brennan reports that his comments come against a background of increasing political clamour to make it even more difficult to repossess homes.

Last Fall, the bank temporarily suspended foreclosures after critics argued the industry cut corners with shoddy court documents that were used to repossess homes.

Critics alleged banks used "robo-signers" -employees who approved thousands of foreclosures without reviewing the documentation -and incomplete paperwork to repossess homes.

Later this month, landlords will be allowed to evict tenants who can't pay their rent, and mortgage lenders will again be able to repossess homes.

Among factors, it lowered the value of repossessed homes it owns, it said.

The majority of the repossessed homes had already been abandoned by their owners.

Memories of recession-hit banks selling off thousands of repossessed homes in the 1990s set alarm bells ringing.

In Sacramento County in September, 27 percent of all sales were by lenders who had repossessed homes, according to DataQuick.

A "LEGAL vacuum" is preventing banks from promptly repossessing homes owned by individuals who have fallen into mortgage arrears.

Of that sum, $27m went straight to the military personnel members affected, as cash payments, while others had their repossessed homes affected.

The firm held 3,620 repossessed homes at the end of 2008 compared with 2,215 a year earlier, the group's annual report showed.