Couple set for repossession - BBC

neverdespairgirl

http://news.bbc.co.uk/1/hi/uk/7550498.stm

David and Nicole Redman are in danger of joining the thousands of Britons who have lost their homes amid spiralling repossessions by mortgage lenders.

The Redmans, of Bognor Regis, West Sussex, are due in court later this month, unable to meet increased payments set by their lender after they fell into arrears. The couple, who live with Mr Redman's mother and their two-year-old son, have another baby due in November. They find they are unable to sell their home to clear their debts.
One thing that is noticeable in this article is the determination that it's Someone Else's Fault.

"We were stitched up with the original mortage deal." and " They took advantage of the situation we were in at the time, and now we are paying for it"

dopester

neverdespairgirl wrote: »

"We were stitched up with the original mortgage deal." and " They took advantage of the situation we were in at the time, and now we are paying for it"

What a sob story. Maybe this couple expect the banks to arrange for one of their employees to follow them around 24/7, guarding them from their own decisions which might have some less than positive outcome.

An article full of self pity and firing out undeserved blame - but I agree they should be given more room for manoeuvre with their circumstances. The thing is through, in negative equity, I get the impression they don't now even want to keep up repayments, even if they got a favourable deal in the court.

B.E.N

The thing that I keep on noticing with all of these 'sob-stories' is that there is no mention of the 'victim' having any savings!

It's amazing how many of these people think they can afford kids, and often have 2/3/4, etc, yet don't appear to have any savings to speak of. Hence, mortgage goes up £100 / £200 pcm and they're at risk of homelessness!

IMHO people should get their finances in order, including a 3 month (at least) expenditure fund, before even thinking about starting a family, getting a mortgage, etc

ultra10

:mad: ok i digress ..but why o why are sooo many women the size of King Kong these days !!!!!!!!!

Dan:_4

Yes Ben, it's a shame that not everyone in the UK lives up to your standards.

B.E.N

Dan: wrote: »

Yes Ben, it's a shame that not everyone in the UK lives up to your standards.

Not sure if that was meant as sarcastic or not?

But anyway, to be fair, the story that the OP linked to, did have one mitigating factor - the Mum going bankrupt and them having to take out an 'urgent' mortgage. Still no excuse trying to shift the blame, like, but still..

When I wrote my original post, I was more thinking of this story:

http://www.mirror.co.uk/news/top-stories/2008/08/02/credit-crunch-family-forced-to-live-in-a-vauxhall-vectra-115875-20680645/

neverdespairgirl

ultra10 wrote: »

:mad: ok i digress ..but why o why are sooo many women the size of King Kong these days !!!!!!!!!

She's pregnant, I think? Certainly I wasn't at my most sylph-like when I was expecting (-:

PasturesNew

It'd be interesting to see their SOA. The article said they earn "above average incomes", yet the mortgage is somewhere about £125-135k (guessing).

I think the wife spends it all on pies.

BobProperty

I agree with NDG's original assertion. It's everybody else's fault except theirs.
We took out the mortage in August last year because my mum went bankrupt, and we had to buy the house - otherwise we would all be homeless.
I'm not a mortgage broker but I'd be confident in guessing that you won't get the "best buy of the month" mortgage in those circumstances.
What we hope to do at the court date is get the judge to side with us and get them to accept an amount that is affordable - we could pay an extra £100 a month.
Now, I'm not saying something is wrong here, but IMHO, for some reason you must have been totally unconvincing in court. I really can't imagine a judge turning down the offer of an extra £100 pcm as part of a deal to keep the house. I think someone is being economical with the truth or we are only getting part of the story. Like someone else said, they are earning "above average income" so I'd like to see an SOA too.
The estate agents don't seem to have cottoned on to the fact that there is a need for people with bad credit to rent housing.
Yeah, really? Fancy people running a business (being a landlord) wanting to know they are going to get paid. What is the world coming to?
They took advantage of the situation we were in at the time, and now we are paying for it.
Who is this "They"?
One final point, the house doesn't sound like it's going to be in Country Living this month:
It is a maisonette - they are just not selling at all unless they are really cheap.
and
The council can only provide us with temporary accommodation, reserved usually for single, teenage mums. It's just down the road from where we are, and the police are there all the time.

mewbie_2

I like the expression "fell into arrears", as though it were an accident. Like tripping up, or stubbing your toe - one minute you can be ambling along in life, and then the next moment - whoops I fell into arrears.

Sounds so much more acceptable than "I accumulated more debts than I could afford to pay".

Bf109

ultra10 wrote: »

:mad: ok i digress ..but why o why are sooo many women the size of King Kong these days !!!!!!!!!

King Kongs' big mama!