Figures from the Reserve Bank released this week revealed levels of mortgage stress in the Fairfield-Liverpool area to be the highest in the country, with the proportion of mortgage repayments overdue by 90 days or more now at three times the national average.

Nearly 30 homes in the Fairfield and Bankstown areas are now being repossessed each week by the Sheriff's office.

Real estate agents say about 20 per cent of all homes for sale in the district are seized properties.

Financial counsellors are warning residents in difficulty to seek advice early, before refinancing or taking out ''quick fix'' loans.

Jon Craig and his family got sick of regular rent increases in Wetherill Park and 10 years ago they bought a home in Bossley Park.

''At just over $200,000 for a four-bedroom home in a quiet little street, it was a bargain,'' Mr Craig said.

''We decided to go with RAMS for our home loan because their advertising was everywhere. We didn't really shop around.''

Last year Mr Craig was unhappy with the inflexibility of his home loan, so decided to refinance with E-Choice, which had an interest rate 1 per cent lower.

But over the next nine months the rate rose from 7.29 to 9.04 per cent, increasing even when the Reserve Bank did not increase official interest rates.

''In hindsight, I didn't really do any research on other lenders before refinancing; I just wanted a quick and easy solution,'' he said.

''So now even though I took a voluntary redundancy package last year and paid off $10,000, I pretty much owe nearly as much as when when I took out my mortgage.''

Assistant Treasurer and Prospect MP Chris Bowen said on the ABC's Q and A program in June that negotiations were ongoing into micro-credit and national lending regulations and protection.

Mr Bowen and Blaxland MP Jason Clare have compiled a free debt relief kit for residents that can be picked up from their offices or mailed to you.

Mr Clare is also hosting a forum for residents struggling with mortgage repayments on Tuesday, October 28 at Cabra Vale Leisure Centre from noon to 2pm.

Advice will be available across a range of areas and entry will be free but residents are asked to register their interest by calling Mr Clare's office on 9790 2466.