Tuesday, Apr 22, 2008
CAB and Shelter may talk the talk but they won’t offer you a home when you are repossessed and evicted
stop repossessions: Does Alistair Darling Want You To Be Repossessed?
Maybe the Government, along with the usual middle class do gooders at the Citizens Advice Bureau (CAB) and Shelter actually want you to be repossessed and lose your home?
Surely, that can’t be right?
Posted by malct @ 09:12 AM (391 views) Add Comment
8 Comments
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1. Si said...
Surely regulation is a good thing in this case?
I think this is a stupid article, and I wonder whether the author runs a sell and rent back business himself.
(My mum is a middle class do-gooder so I'm biased)
2. Si said...
On further investigation, it is.
Thought something smelt funny
3. uncle tom said...
The scale of the problem is so vast, I can see huge numbers of mortgage holders - maybe more than a million of them - simply stopping their payments and saying 'so, what are you going to do about it?'
Both practically and politically, there will be too many defaulters to evict.
Quite how this will map out is hard to predict, but it could drag on for many years - once a homeowner has resigned himself to bankruptcy, will he be willing to pay rent?
I can see a long drawn out stand-off, as an army of bankrupt homeowners indulges a mass squat - paying neither mortgage nor rent, while maintaining that they are the victims, and not the offenders.
4. jonb said...
The sell to rent scammers pay a lot less than you could get by selling through an estate agent, and kick you out 6 months later. Forget any idea that they are trying to help people in trouble.
5. wage slave said...
This 'article' seems to be supporting the rentback brigade. Suspicious.
6. Orwell said...
Ken Loach of Cathy Come Home fame tells us that Shelter now have quango status receiving a bung from this wholly discreditied government! I think that he is intimating that there should be a policy of non cooperation with Shelter now as they speak as a governmant mouthpiece.
Amazing! and this is the organisation that was set up after Cathy Come Home was shown - still all organisations come to an end...
7. Tipping Point said...
uncle tom said...
"Both practically and politically, there will be too many defaulters to evict. "
Don't be so sure. Bank lawyers can easily handle the workload, the courts will fast track the orders and there are lots of ex squaddies returning from the gulf who would love to do the work.
8. European-bear said...
Tipping point/ Uncle Tom
I go with Uncle Tom. In the USA is now takes about 11 months to get the court order to repossess as the courts are overwhelmed. And now people realise this they just stop paying the mortgage and live for free until the process finally takes the property.
Another thing in the USA is that it is now becoming possible to negotiate with the banks on a reduction in the capital sum owed as a condition to keep paying the mortgage. Even the IRS is helping in its own little way.....until the present crunch, any debt that was forgiven was treated as income and tax was payable. Now the IRS will not tax forgiven mortgage debt....
When the numbers of repossessions gets big enough it may well become possible to negotiate a partial write off of the debt.....