More people fail to meet mortgage payments

The number of people forced to sell their own homes because they can no longer meet mortgage payments shot up sharply last year, the Telegraaf reports.

In total, 1,341 people who had bought a home with a NHG government guarantee were forced to sell, up 76% on 2009.
The increase is largely due to divorce and unemployment, a spokesman for the NHG guarantee scheme said.
The national mortgage guarantee was introduced in 1995 as a way to encourage home ownership and currently covers homes costing up to €350,000.
The guarantee means that if people default on their mortgage, a special home-ownership fund (known as the WEW) will pay off the debt.

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