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But the town has another moniker – one Chris Mallender, chief executive of the borough council, is a little less keen on: repossession capital of England.
Laws on repossession differ by state.
The Council of Mortgage Lenders (CML) yesterday announced that its members will cease chasing loan arrears on repossession cases over six years old.
There are further upward pressures on repossession: –Rising energy and food costs disproportionately affect low-income households.
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'Spanish banks aren't getting their act together on repossessions.
And as Peston also notes, a longer grace period on repossessions may well hurt, not help, economic recovery.
They were an accounting fiction based on Green Tree's projections of the payments it would eventually receive, less its operating costs and its losses on repossessions.
"I can announce today new guidance for the judiciary to halt or adjourn court action on repossessions, unless alternative options that help the homeowner, including extending the terms of the mortgage, changing the mortgage type and deferring payment, have been fully examined first of all.
Finally, a reason to care about the sub-prime crisis, as one of America's finest residential fairgrounds teeters on the brink of repossession.
The Guardian revealed last week that the home was on the brink of repossession before the £1.5m loan from Retail Acquisitions was used to pay off debts against it.
The Guardian revealed last month that the home was on the brink of repossession before the £1.5m loan from Retail Acquisitions was used to pay off debts against it.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com