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MONEY MORAL DILEMMA: Would you buy your neighbours’ repossessed house?
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YES I WOULD!!!
If they found out and got upset about it I would offer to rent them a room:-)
Every cloud and all that...................0 -
Definitely. Someone is going to benefit from buying it, the neighbours would probably be happier for someone they knew vaguely, buying the house they have lost anyway.0
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Yes I would buy it and I wouldn't buy it with the intention of letting them rent it back. By selling the house, their debt to their lender is either paid off in full or reduced, depending on how much is outstanding on their mortgage. Just because the house is cheap, doesn't mean there will be others interested - I may be the only interested party, it happens sometimes. If I could raise the funds to be charitable and buy the house to let them rent it back, I could afford the house in the first place. All homeowners who owe more on their mortgage than they have in savings run the same risk. I'm just as susceptible to this misfortune as they are.Cheap and cheerful. Preferably free. :T LBM - more a gradual rude awakening.
DFD where the light is at the end of this very long tunnel - there, see it? Its getting brighter!!
DFW Nerd Club Member no. 946. Proud To Be Dealing With My Debts.
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Your money is as good as anyone Else's, so it's a no brainer just buy it!I must, I must, get my post average up to 1 a day!!0
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If I were really super dooper rich, yes I would buy it and give it back to them.0
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Not unless it was to give back to them (would have to win the lottery first though!)0
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Too right i would buy the house!!! I would buy my mothers or fathers in the same situation. The mortgage company want what they have outstanding on the mortgage and if they other can't afford to pay it they can't stay there.
The mortgage company are mkaing them sell the house so its notlike you are actually buying from your neighbours but from the mortgage people!0 -
definately yes. If no one buys their house then they will end up in even more debt so the money you spend on their house will go towards debt.“…the ‘insatiability doctrine – we spend money we don’t have, on things we don’t need, to make impressions that don’t last, on people we don’t care about.” Professor Tim Jackson
“The best things in life is not things"0 -
Yes, I'd buy it, then offer to rent them my old house on a decent rent (don't forget, if you are unemployed, the rent gets paid by the benefits agency anyway, so it won't cost them anything anyway)Never Knowingly Understood.
Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)
3-6 month EF £0/£3600 (that's 0 days worth)0 -
I would have no problem buying their house. If you like the area why move out of it.0
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