Someone i know about to have home repossessed.

Jagman83

dimbo61 wrote: »

Jagman83 knows how to make money from property?
But his/her english is very poor and understanding of how to buy a property which has been repossessed is ZERO!!!
Dream on

People like you make me laugh, he or she mmm jagMAN bit of a giveaway... I know how to buy a repo, i was hoping to find a solution before the house got repossessed. Yes i do know how to make money from property i started mid 2012 and each of my 4 properties makes me £1000 clear proffit each month which isnt bad for a part time job running 4 HMO's. p.s excuse my english as all this is being typed on mu iphone.

_Andy_

Missing a key bit of info here - ie how much is owing on the mortgage currently?

Going4TheDream

dimbo61 wrote: »

Jagman83 knows how to make money from property?
But his/her english is very poor and understanding of how to buy a property which has been repossessed is ZERO!!!
Dream on

my thoughts too

blckbrd

dimbo61 wrote: »

Jagman83 knows how to make money from property?
But his/her english is very poor and understanding of how to buy a property which has been repossessed is ZERO!!!
Dream on

Interesting. Don't think I've ever heard the idiomatic use of references to pots and piddle from people with a poor sgtandard of english - which is not the euphemism you imagine btw.

Jagman83

This has just come into mind so may be many flaws as i have not thought it through yet. Here goes... Would it be possible for me to take over mortgage, pay off arears and pay an agreed sum to get her back on her feet before any repo action takes place? Obviously in this process i want to transfer full ownership to me?

_Andy_

dimbo61 wrote: »

But his/her english is very poor

Why would that make a difference?

Yorkie1

Jagman83 wrote: »

This has just come into mind so may be many flaws as i have not thought it through yet. Here goes... Would it be possible for me to take over mortgage, pay off arears and pay an agreed sum to get her back on her feet before any repo action takes place? Obviously in this process i want to transfer full ownership to me?

No. You can't just transfer a mortgage, if that is what you propose. It has to be redeemed (i.e. paid off) before you take out a new mortgage.

And she cannot simply transfer ownership to you while retaining her name on the mortgage. The two must match.

You still haven't answered the question re. how much is owing on the mortgage?

G_M

OP is spamming.

ruggedtoast

I think the pertinent point of this thread is that this character wants to buy a £150,000 house for £80,000 and as its a distressed "friend" is hoping to find a way to keep the property off the open market so it doesn't realise its true value, which he can then turn into some godawful HMO.

Well, with friends like Jagman and his wife this poor woman certainly doesn't need enemies.

Well no, sorry mate. The bank have a controlling interest in the property and a duty to the party concerned to achieve the best possible price, which will will then be written off her debts.

Not to let her sell it for a song to some buy to let chancer pretending to do her a favour to line his own pockets, so you'll have to think of another scheme.

mrginge

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