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  • FIRST POST
    • TW100
    • By TW100 2nd Nov 17, 3:05 PM
    • 2Posts
    • 0Thanks
    TW100
    Writing Off Your Mortgage?
    • #1
    • 2nd Nov 17, 3:05 PM
    Writing Off Your Mortgage? 2nd Nov 17 at 3:05 PM
    An advert came on the radio about writing off up to 70% off your mortgage. The company is called 'Ease Your Mortgage' so I looked online as was curious. Apparently some lenders sell on your mortgage to another investor and do not change the name legally on your title deed, therefore meaning you can write off some of what you owe. This company charges £260 to look into this for you? Why can't I just call my mortgage company and ask them or obtain a copy of my title deed and look for myself? Is this a con?
    Last edited by TW100; 02-11-2017 at 3:06 PM. Reason: spelling mistakes
Page 1
    • Moneyineptitude
    • By Moneyineptitude 2nd Nov 17, 3:07 PM
    • 19,102 Posts
    • 10,278 Thanks
    Moneyineptitude
    • #2
    • 2nd Nov 17, 3:07 PM
    • #2
    • 2nd Nov 17, 3:07 PM
    Forget about this.
    • zx81
    • By zx81 2nd Nov 17, 3:09 PM
    • 14,864 Posts
    • 15,691 Thanks
    zx81
    • #3
    • 2nd Nov 17, 3:09 PM
    • #3
    • 2nd Nov 17, 3:09 PM
    And then forget it some more.

    The only thing that will get written off is your savings.
    • StopIt
    • By StopIt 2nd Nov 17, 3:15 PM
    • 1,449 Posts
    • 1,244 Thanks
    StopIt
    • #4
    • 2nd Nov 17, 3:15 PM
    • #4
    • 2nd Nov 17, 3:15 PM
    Hahahahahahahahaha no.


    No.


    Wait, you're serious?


    No.


    I hate to break it to you, but most lenders securitise and sell mortgage debts to the secondary markets. Why do you think we had the 2009 crash? (Tldr; Bundles of sub-prime debts were marketed on the secondary markets as AAA debt. When the ruse was found out, everyone lost their minds). Last I checked, you can't get your mortgage written off because your lender hedged your risk of non payment in exchange for making less of the overall profit.
    • TW100
    • By TW100 2nd Nov 17, 5:52 PM
    • 2 Posts
    • 0 Thanks
    TW100
    • #5
    • 2nd Nov 17, 5:52 PM
    • #5
    • 2nd Nov 17, 5:52 PM
    Thank you everyone. I just wasn't sure if anyone else had looked into this. How on earth are this company allowed to do this. They advertise on LBC radio. I think I might get on to them about it.
    • LABMAN
    • By LABMAN 2nd Nov 17, 6:40 PM
    • 738 Posts
    • 1,212 Thanks
    LABMAN
    • #6
    • 2nd Nov 17, 6:40 PM
    • #6
    • 2nd Nov 17, 6:40 PM
    Thank you everyone. I just wasn't sure if anyone else had looked into this. How on earth are this company allowed to do this. They advertise on LBC radio. I think I might get on to them about it.
    Originally posted by TW100


    Do you know that the word 'gullible' isn't in the Oxford English Dictionary'?
    • Diya12
    • By Diya12 16th Dec 17, 9:06 AM
    • 2 Posts
    • 0 Thanks
    Diya12
    • #7
    • 16th Dec 17, 9:06 AM
    • #7
    • 16th Dec 17, 9:06 AM
    I think what you did ended up in the Daily Mail- check Leqal Quest website now ��
    • dunstonh
    • By dunstonh 16th Dec 17, 12:58 PM
    • 90,336 Posts
    • 57,121 Thanks
    dunstonh
    • #8
    • 16th Dec 17, 12:58 PM
    • #8
    • 16th Dec 17, 12:58 PM
    There is something called advance fee fraud.

    Scammer entices you with some big pay off. Your greed takes over and blinds you to all sensibility. The scammer then tells you to get that you have to pay a smaller amount. You pay it as you have pound signs in your eyes.

    If you remember the old BBC series Hustle then you should be able to relate to the format as most episodes were a version of advance fee fraud.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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