Councils ARE to bail out over-indebted mortgagees!

baby_boomer

Nu Labour is passing the buck to Councils.

Councils don't have to bail out a single indebted homeowner.

MissMoneypenny

Dan: wrote: »

I actually like this idea. Infact I might defualt on my mortgage, become a council tennant without having to move house, and in a few years, when prices have crashed I will buy it back (with a right-to-buy discount of course).

It would be ironic if the government then removed the "right to buy".

HelpWhereIcan

It may be interesting to know that council and housing association mortgage rescue schemes have been around for years - just very few councils chose to offer them and even fewer advertised them.

They were mainly used when the council considered that they would be financially better off providing a mortgage rescue than the other aid that they, and social service etc, would have to provide.

Therefore very few singles and many were done more as a shared ownership scheme than outright rental. They would also have quite strict criteria applied to the reasons for financial difficulty - need to be able to show a loss of income etc

Therefore, depending on the criteria applied, it may well be that the current announcement is nothing new - just an extension of an existing scheme that is meant for the most desperate and 'deserving' only. Those that have got themselves into trouble by over-committing may well not be helped by this.

So, no matter how upset the bears may get (or excited the bulls), the government has provided nothing new - just spin as usual.

Neillgb

!!!!!!? wrote: »

To be fair to Crash Gordon, Tony Bliar was equally culpable of building the 'debt and dependency economy' and a whole order of magnitude more slimy, conniving and duplicitous.

He managed to walk away at almost exactly the right time leaving gormless Gordon to carry the can for everything. First class political work, you have to admire his style I suppose.

Too right.

OK I'll give the award to Blair. Brown can have similar for Chancellor.

Kindly note the correct spelling of our esteemed former PM's surname.....:rolleyes:

WTF?_2

Neillgb wrote: »

Too right.

OK I'll give the award to Blair. Brown can have similar for Chancellor.

Kindly note the correct spelling of our esteemed former PM's surname.....:rolleyes:

As far as I'm concerned, he's Tony Bliar. I'm not about to forget what he got up to and how he betrayed the trust of people who had high hopes of something better.

Neillgb

A little video to amuse the Blair/Brown fans,

http://www.guynews.tv/2008/07/in-bunker-after-glasgow-east-result.html

I thought about apologising to the Scots present but then I thought nah....

Just watched it again and must warn the more sensitive folks that it is on the strong side!!!

tomstickland

It's very funny.

Oblivion

Neillgb wrote: »

A little video to amuse the Blair/Brown fans,

http://www.guynews.tv/2008/07/in-bunker-after-glasgow-east-result.html

quote]

Superb!

Dave.

Max_Headroom_3

Just a little addition to this. They're now saying that anyone in negative equity will not be eligable.

Sensible, but surely anyone who is not in negative equity and can't cover their mortgage just needs to sell?

dunn4

fiodyl wrote: »

I agree with you completely. Instead of accepting a dilapidated flat on an estate full of drug addicts and saving up to buy house one day, I should of lied to get a mortgage on a nice house of my choice then waited for the council to buy it off me when I couldnt afford the repayments.

I am fed up of people who likes to feel they know about everybody and like to stereotype us all.

I lived on the third floor of a nasty council estate in very undesirable area of East London. I struggled through University to qualify as a teacher to provide my son with something safer and healthier than that (I didn't want him to be just another statistic).

I worked hard saved a deposit and left London to an area cheaper and safer.

Unfortunately my income went down drastically then my partner took ill (three years). During this time I found it difficult to cover all the bills (especially the mortgage). I am now drastically in arrears and facing reposession.

I have never expected anything for nothing and have taken nothing from the system . I haven't just stayed in my council flat or lived off benefits.

All I have tried to do is work offer my son a better future than I was when he was born.

I do have some equity in my home but finding it hard to sell in the current environment and to be honest if I don't soon I will be reposessed.

It is my tax that is being used for this mortgage rescue - not just yours; and to be honest I just need out for sanity as I am now on anti-depessants, struggle to sleep and have lost an incredible amount of weght.

I am not some fool. I could afford the mortgage and the only thing that went wrong was unforseeable illness and then the property market changing to revent me selling quickly enough.

I am sorry that you you feel YOU are bailing me out. However I have never minded helping those on benefits/ receiving the many benefits that I don't. Is it so unreasonable that I am helped now in my time of need ?

Perhaps you would prefer that I give up my home, my job and live of benefits on a council estate?

Silly me :mad: