Councils ARE to bail out over-indebted mortgagees!

chrisandanne

I really hope things work out for you somehow. Don't give up hope for your future. A x

fc123

Hi dunn4...sorry to read the above and I sympathise with the difficult situation you are in.
From what I have read on these boards, some of these schemes get a lot of press but are actually quite difficult to access. Your other thread may throw up some help on where to start.

The other option is to drop the price right down to get a quick sale as it would be better for you to sell it yourself than get repo'd.
I know it's easier said than done, but homes are selling if the price is low enough.
You don't mention if you are getting advice from CAB or Shelter but this board http://forums.moneysavingexpert.com/forumdisplay.html?f=76 has some very helpful and sympathetic posters on it who have 'been there' and I have seen a lot of good advice for people who are at risk of repo.

Sorry I can't be of more help

C.

ruggedtoast

Max_Headroom wrote: »

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?

Theyll be in negative equity if they take the price the council will pay them alright!

That video is classic for anyone that hasnt clicked, by the way.

dad-of-4

Max_Headroom wrote: »

Little paragraph in the BBC report today:



http://news.bbc.co.uk/1/hi/uk_politics/7592852.stm

I find this a really worrying scheme.

Firstly it seems a bail out for the banks who now won't find themselves with so many loans not being paid, so no "pain" for their silly lending.

Secondly, how are they going to decide the criteria for these bail outs? If (as many have done) people have MEWed up to the eyeballs for holidays and flash cars and now cannot pay the mortgage, are they due a hand-out with tax payers money?

I think this is a really worrying precident to set personally, yet another level of personal responsibility removed (hey, don't worry about living within your means, the government are there to make sure you cannot lose your home just because you can't afford to pay for it).

its seeing !!!!!! like this going on, that realy boils my p1$$, ive payed my way for years, chosen to live within my very modest means refusing to get involved with credit/debt, i dont possess many of the things that many take for granted or the things they think they have a birth right to own, and ive never begruded anyone for what they have, what their looking for or anything else, i like nothing more than to see people making a success of their lives, and enjoying the rewards of their sucess, but this realy realy is a to much and a step to far.

i know more than a few people who aquired so much thru realising the HPI and done nothing but use it as a means to feel superior and be little thoes less fortunate than them, or thoes who just didnt want to play that way.

to many are not hard working people getting out of life what they deserve, there just living the life of reily of HPI and now what they acted like was some kind of birth right, is prety much going to have become one..

seeing this tonight has fcuked me off beyond belief. ive never been a bitter person, but i am now.

baby_boomer

Finally Councils are springing into action to deal with the mortgage crisis.

Basingstoke and Deane Borough Council are set to offer borrowers in difficulty

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advice

This is Hampshire - Council set to ease mortgage difficulties

Errata

Extension of powers for councils and housing associations to be able to pay off debt for homeowners who can no longer afford mortgage payments and then charge rent.

So the lucky pensioner who saved and has a small pension which takes them out of any help with council tax or pension credit will be paying their council tax to fund the lifestyle choices of those who mistook their home for a cash machine ?

We certainly live in interestig times.

WTF?_2

Hmm, "Advice", you say?



"God tells me he can get me out of this mess, but he's pretty sure you're f***ed."

baby_boomer

New Labour unravels as so much hot air as they try in vain to bridge the ideological gap.

jimcoxell

Errata wrote: »

So the lucky pensioner who saved and has a small pension which takes them out of any help with council tax or pension credit will be paying their council tax to fund the lifestyle choices of those who mistook their home for a cash machine ?

We certainly live in interestig times.

Ive actually dealt with pensioners with over 100k in saving who have qualified for G.C and are therefore exempt from Council Tax. Pensioners are pretty well looked after in terms of benefits.

Pobby

Sorry, what is G.C?