Repossessing homes - Banks must take losses in loan crisis

THERE can be few situations more distressing than the prospect of losing your home. Being turned out on the side of the road, put out of the house where you and your partner planned to build your family’s future might unnerve the best of us.

Losing the family home because a bank has secured a court order to that effect places enormous strain on individuals, relationships and a couple’s ability to be the parents they would wish to be.

There are very few events, along with the decimation of pension funds, that so starkly illustrate the betrayal by politicians, bankers and regulators of ordinary people than the eviction of newly unemployed people from the homes where they had hoped to put down roots.