Released on = June 15, 2007, 3:40 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = New debt laws could see more homeowners at risk of losing
their homes, Citizens Advice has warned.

Press Release Body = Currently, homeowners who have fallen seriously in debt are not
required to pay their creditors back when they sell their home, provided that they
keep up with court repayments.

However, the government has unveiled plans to close what it describes as a
\'loophole\', allowing those in debt to be forced to use proceeds from the sale to pay
off their debts - even if they have kept up with repayments.

Speaking on BBC Radio 4, Sue Edwards from Citizens Advice warned that homeowners
could lose control over how they pay off their debts.

\"If the government intends to make changes, it does need to make sure that people
who do want to repay but can only afford little amounts don\'t lose their homes,\" she
said.

It is feared that the new law, currently outlined in the Courts and Enforcement
Bill, will effectively allow creditors to turn unsecured debts into ones secured
against the property.

UK fast purchase property firm National Homebuyers provide solutions for homeowners
already in debt, director Julian King says: \"Homeowners do not fully explore the
options available to them.

\"We offer a Sell and Rent Back solution that allows the homeowner to sell their
property, pay off debts and remaining living in their home.

\"The increasing number of people faced with repossession should find alternatives to
taking out loans, which increase their debt.

\"Homeowners wanting to remain in their home and sell it, rather than loose it should
consider our option. We complete at a timescale that suits their needs and can
arrange a rent-free period if necessary.\"

National Homebuyers guarantee to make an offer to purchase any property regardless
of its condition or location in the UK. Their website is
www.nationalhomebuyers.co.uk/index.asp.

Web Site = http://www.nationalhomebuyers.co.uk

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
0870 979 8118
Fax: 01444 257333
info@nationalhomebuyers.co.uk