High Court blow for UK homeowners

chucky

you guys are acting like a pack of hyenas!!!

abaxas

huntersc wrote: »

I think you need to go back to economics 101. No, defaulting on debt, particularly a mortgage, does not necessarily remove available credit from someone else, indeed in the banking sector it's very rarely so. Even on a macro level it doesn't always work like this.

As for your question of economic morality, it's an interesting subject. I could sit here and discuss it all day but before we go further I'd like your definition of morality and on which principles economic morality is based.

Once we have a definition and a basis for this morality we can discuss the morality of charging people interest for something that one does not own. Like charging someone interest for money that doesn't in reality exist.

Crikey this could turn into an interesting topic.

I dont think that is wise! I can see religion getting involved and I'm sure we dont want to go there.

mean_momma

abaxas wrote: »

Black and white is the ONLY way to deal with it. You cannot give advantage to those who have been disadvantaged.

Black and white, rules are rules, business is business, one aspect has nothing to do with the other..........agreed....
but, sadly there is corruption out there. There should be a duty of care to protect people who are in trouble with their mortgage from predators. (even more speculators snapping up the bargains?). Whatever the reason for the default, the property should be sold for best price, within a good time limit, not chucked into an auction just to cover the loan.

huntersc

abaxas wrote: »

I dont think that is wise! I can see religion getting involved and I'm sure we dont want to go there.

No need for us to discuss religion at all. Let's limit it to Western Europe and historical lending, interest and money creation.

I think the reason you don't want to 'go there' is because you haven't a clue. I've read all of what you've written and in the main it's best described as nonsense. I think your lack of knowledge in this area very much informs your opinions. Or should that be ill or miss informed?

Really2

Really2 wrote: »

Like it or not rental agrements are a similar agrements why do you not have a problem with rental defaults.

Still no comment on this.:rolleyes:

abaxas

mean_momma wrote: »

Black and white, rules are rules, business is business, one aspect has nothing to do with the other..........agreed....
but, sadly there is corruption out there. There should be a duty of care to protect people who are in trouble with their mortgage from predators. (even more speculators snapping up the bargains?). Whatever the reason for the default, the property should be sold for best price, within a good time limit, not chucked into an auction just to cover the loan.

I'm not sure that applies as the they were business loans. My understanding is that these products are completly 'buyer beware' etc.

In terms of personal mortgages, does anyone know the rules from repos? There must be some.

Dithering_Dad

Dithering_Dad wrote: »

Do you have children? Was anyone relying on you financially when you lost your jobs? Were you financially dependant on your mother when she went into hospital?

Still no comment on this either.

Just to open the 'I'm all right Jack' debate, how many £10's of thousands of pounds did your mum's cancer treatment cost? Here is an article from the USA, where they also have the 'take care of yourself' principle:
http://www.usatoday.com/news/health/2006-07-10-cancer-costs_x.htm

Here's a UK article onthe cost of cancer treatment:
http://www.martinfrost.ws/htmlfiles/feb2007/cancer_drugs.html

I dare say that some people who haven't had cancer and/or have company supplied medical insurance would resent their tax money being spent on your mum's medical bills.

It's called SOCIETY. Do you get it yet?

hearts

abaxas wrote: »

God, this boils my blood.

Why should we feel sorry for people who don't pay their debts! The answer is, we shouldn't.

What kind of society find default acceptable? Sadly one that is dying :<

Take it from them if they dont pay. Simple as

You are one sick individual.

I'm an aetheist but you should heed these words.

THERE BUT BY THE GRACE OF GOD GO I.

StevieJ

chucky wrote: »

you guys are acting like a pack of hyenas!!!

More like Nazguls

StevieJ

hearts wrote: »

You are one sick individual.

I think that guy is on a wind up.