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There has been a sharp fall in the number of borrowers that have had to tap into their superannuation in order to meet mortgage repayments.
According to a report in The Australian Financial Review, the number of applications for early access to super savings dropped 12 per cent last year to 17,918 – the lowest level since 2005-2006.
Overall, the total amount released to borrowers facing mortgage foreclosure fell from $174 million last year to $145 million in 2008-09.
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