Repossesions threat as Government reduces home owner support - Telegraph

treliac

The_White_Horse wrote: »

they could have taken out mortgage payment protection. i think people really need to learn - big time - that in life, "!!!!!! happens" and you have to deal with it, and the tax payer can't come and pay all your bills for you.

as i said, if these people can't pay, and have no insurance to cover it, then it is between them and their bank to sort it out. the tax payer should not be paying for it. its madness.

How many do take our mortgage protection? We never have. Isn't it a) very expensive and b) limited in it's effectiveness?

Sadly, when !!!!!! happens, the taxpayer does have to pick up the tab, regardless of the type of provision. We don't generally turn people out onto the streets in this country.

Damaged

treliac wrote: »

How many do take our mortgage protection? We never have. Isn't it a) very expensive and b) limited in it's effectiveness?

Sadly, when !!!!!! happens, the taxpayer does have to pick up the tab, regardless of the type of provision. We don't generally turn people out onto the streets in this country.

agreed, and if the bank does repo them, they will have to be put up in council house, thus costing the tax payer even more. No private LL would touch them.

So value for money probably lies in keeping them in their own home

treliac

Damaged wrote: »

agreed, and if the bank does repo them, they will have to be put up in council house, thus costing the tax payer even more. No private LL would touch them.

Is that so? Even if they come out the other end with capital?

Damaged

if they had capital in the house, then it is likely that they would have sold to avoid court proceedings before getting the repossession order.

Regards of that, if your house gets repossessed, its due to it being a bad debt

treliac

Damaged wrote: »

if they had capital in the house, then it is likely that they would have sold to avoid court proceedings before getting the repossession order.

Regards of that, if your house gets repossessed, its due to it being a bad debt

My (previously mentioned) relative has probably got capital in their house but they can't get a buyer. There can only be so far that they can drop the price and only so long that the lender will let them keep it on a disinterested market.

Damaged

treliac wrote: »

My (previously mentioned) relative has probably got capital in their house but they can't get a buyer. There can only be so far that they can drop the price and only so long that the lender will let them keep it on a disinterested market.

I am sure they could sort something out with the lender, and at the end of the day, they could sell it, they just need to lower the price to either clear the mortgage or reduce it.

treliac

Damaged wrote: »

I am sure they could sort something out with the lender, and at the end of the day, they could sell it, they just need to lower the price to either clear the mortgage or reduce it.

They've lowered it several times. It's only one of quite a number of similar executive style homes on the market in the same area - a pretty typical scenario I'd imagine.

As the house price crash believers will insist, it's the need to take this action that will force house prices down in general. I guess you can keep dropping, as long as you don't go into negative equity, but the knock on effect will be to lower all house prices.

Damaged

treliac wrote: »

They've lowered it several times. It's only one of quite a number of similar executive style homes on the market in the same area - a pretty typical scenario I'd imagine.

As the house price crash believers will insist, it's the need to take this action that will force house prices down in general. I guess you can keep dropping, as long as you don't go into negative equity, but the knock on effect will be to lower all house prices.

even if you go into negative equity your payments will be lower.
The property will see, they are just asking to much for it!

Simple fact is they will just need to ride it out, and make do.
using the excuse it wont and cant sell is rubbish.

I tell you what I'll give them £100k for it, (assume its not in wales)

Cheque in the post tomorrow. Problem or part of it solved.

treliac

Damaged wrote: »

even if you go into negative equity your payments will be lower.
The property will see, they are just asking to much for it!

Simple fact is they will just need to ride it out, and make do.
using the excuse it wont and cant sell is rubbish.

I tell you what I'll give them £100k for it, (assume its not in wales)

Cheque in the post tomorrow. Problem or part of it solved.

It's on the market for c. 350k and no it's not in Wales.... not too far away though.

markharding557

The_White_Horse wrote: »

this entire benefit should be scrapped. i don't pay tax to pay some scroungers mortgage (obviously i do, but only because of hateful labour).

if they cant pay, then let the bank repo or if they wont make money, come to some other arrangement.

its a sick joke.

I think this benefit should be time limited for 1 year which allows a reasonable time for a redundant person to find new employment