Many people are too frightened to admit that they are having trouble paying their mortgage debt.That is according to Catherine Hearnden, director at MyMortgageDirect, who claims that people "bury their heads in the sand" in the hope that their lender will not notice.She said: "People are frightened. They see all these things about people losing houses and they are frightened of admitting that they can't pay their mortgage."The first port of call should be to talk to their lender because if they have got credit cards then […] they are people who would normally have some chance of finding the money."Ms Hearnden's comments follow research by homelessness charity Shelter, which revealed that over two million people now use their credit cards to pay their mortgage or rent.In December, the Council of Mortgage Lenders predicted that number of repossessions is to increase from an estimated 36,000 in 2010 to 40,000 in 2011.Amir HussainAmir specialises in personal loans, consumer debt and debt management.
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