...homes,will these houses be sold ..? sold at auction to buy to let landlords who will rent them out at exhorbitant prices..why has britain come to this state of affairs

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They will be sold and usually at less than the value. The banks and building societies don't care once the loan is cleared by the proceeds of the sale of the house. Auctions are probably the place to go if you are interested in making a purchase.

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They usually are passed on to adminstrators and are sold to investors at auction or otherwise...They will not be going to estate agents due to the market being slow and many people unable to get mortgages as banks want large deposits etc.....

Brown is the reason why we are in this state....he ensured lots of cheap money was pumped into the system and as prices soared sat back and continued that as economic growth...now we have innocent families who are caught up in the horrendous rates who will loose their homes and now Brown wants the banks to buy the houses and rent them back...banks are not here to be landlords they make more money giving money to buy assests....as for those who were greedy and over stretched themselves and lied to get self cert mortgages I have no pity they kept many people off the property ladder....we are in this state due to msimanagement of the economy for the last 11yrs and now we are seeing the results...and unfortuantely for the UK the man that caused this is now the man with the job of fixing it....very unlikely.....

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Yeah it does seem like there is a lot of repossessions at the moment. I think 67,000 homes are expected to be repossessed this year alone. That's a huge number of families lives ruined

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