Should I go bankrupt?

MissMoneypenny

unknownforce wrote: »

I don't want to look like a millionaire, but I do want my children to live in the countryside and not on the main road we live on, where they cant go out on their bikes.

Load the bikes in the car every weekend and take them to the park/country park. Take them to theme parks. Your children will remember those days when they are older.

I bought a house in the country with an acre garden and fitted it up with all sorts of things for my then, young children (6 and 4). We built a superb double level, wooden playhouse with a lookout, around one of the many trees we had. We had log trails: woodland walks: tree swings: two sets of freestanding swings: swing boats: three slides; two climbing frames: many trees to climb: outdoor train set: two different types of sit-in toy cars: bikes: skate boards and ramps: roller skates: 3 outbuildings for them to play in: dogs, cats, rabbits, guinea pigs. My children loved it...for the first few months! They were outdoor children, but having constant access to all of that made them complacent. They still loved going to parks and theme parks, which they thought were more fun. While I became a slave to the big house and big garden.

BTW, you are right about teenage children hating living in the country:D

unknownforce wrote: »

Yes, I lied to get my mortgage, many did I'm sure.

That's another problem with walking away and leaving the lender with the mess of selling the house and looking at your mortgage application again: mortgage fraud.

roses

If you've got savings then a judge won't allow you to go bankrupt.

MegaMiniMouse

dopester wrote: »

Liar loans helped fuel house price inflation year after year and price out many people who otherwise would have been able to buy at more realistic prices. The past 8 years have been so punishing for many honest people with regard the housing market

House price inflation was engineered by the lenders (the more they could lend, the more they would profit - they thought that the self-cert mortgage would help them even more, and my guess is that the individuals who promoted self-certification earned multi-million pound bonuses!) - the purchase price of a house depends upon the size of the available loan - normal rules of 'supply and demand' do not apply to the housing market - they apply to the mortgage market - now that mortgages are in short supply, house prices have dropped.

Who are you accusing of dishonesty?