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Many homeowners are feeling the pinch with the credit crunch, higher bills for fuel, food etc. In todays world many people spend money on credit cards and have high levels of debt. With the ease of remortgaging and releasing cash from the increase in house values, people have been busy spending and increasing their mortgages to pay for it all. This was always a danger because as we know house prices can go down. Many people are now struggling with debt, those that have increased their mortgages are now facing negative equity as if they sell their house they will not be able to pay off their debts and remortgaging is becoming increasingly difficult to obtain with banks less willing to lend and rates not as attractive. So with people being less able to repay their debts, repossessions will be on the increase. We can already see the problems America is having with the high numbers of repossessions and the UK is set to follow, the forecast is that by the end of this year the number of repossessions will be more than the last three years put together.