Britain’s Repossession Moratorium Benefits The Banks Not The Owners

U.K finance chief Jeremy Hunt just cut a deal with some British banks to hold off from repossessing homes where owners haven’t kept up-to-date with their mortgage payments.

That moratorium, which will last 12 months, sounds great on the face of things. The stated idea is that it will allow financially stressed borrowers to get their finances in order. And therein lies a problem and an obfuscation both at the same time.