Father In Mortgage Arrears

princeofpounds

thats a spectacularly stupid post.

if some has 4 mortgages they have 4 properties. They can sell 1/2 and get the money. you cant sell a credit card debt.

No, it isn't.


Have you ever considered that it's entirely possible to have 4 mortgages, and yet have zero or even negative net worth?


I was just making the point that you cannot judge someone's wealth by looking at their liabilities (last time I checked, a mortgage wasn't an asset).


Yes, mortgages are secured on assets, but we know nothing about how much they are actually worth. The assumption that the OP has enough money in their properties to bail out their father is just that, an assumption.


The credit card debt analogy was just making that general point, it's not meant to be a perfect analogy to their exact financial situation.

thesaint

peld wrote: »

thats a spectacularly stupid post.

if some has 4 mortgages they have 4 properties. They can sell 1/2 and get the money. .

If they have 4 mortgages, they have 4 loans.
There are plenty of people that give their properties back because they owe more money for them than they are worth.

peld wrote: »

you cant sell a credit card debt.

I don't think you said a single thing that is correct in your post. That's some achievement.