There are calls for financial counselling services to be boosted with Western Sydney officially named the mortgage default capital of the country.
The Reserve Bank has found the number of households behind in repayments, by 90 days or more, is triple the national average.
NSW Shadow Fair Trading Minister Catherine Cusack says the NSW Government has a lot to answer for.
“That government was warned five years ago that we needed to have licensed mortgage brokers who were doing proper checks on people’s ability to repay their loans,” he said.
“[They needed to be] borrowing sums they could afford to repay even if economic circumstances changed - which is now what’s happened.”