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Tears as auctions account for a third of properties on sale

Lenders are scrambling to recover money loaned out to developers who have fallen on hard times

Mondays have turned into dreaded days for more reasons than just being the start of a work week. For anyone who owes a bank money for property they bought through a loan, and has started getting calls and emails about the pitfalls of default, this is the day they find out just how close their lender is to repossessing it.

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