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8 months' of mortgage arrears. Has an "agreement" with his mortgage lender to only repay one third of his debts.

He is absolutely indignant - how dare the mortgage company ask for their money back!

He was made redundant, which is obviously unfortunate. But why go heavily into debt if you don't have a stable job?

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8 months' of mortgage arrears. Has an "agreement" with his mortgage lender to only repay one third of his debts.

He is absolutely indignant - how dare the mortgage company ask for their money back!

He was made redundant, which is obviously unfortunate. But why go heavily into debt if you don't have a stable job?

They might not want to repossess as it it may be negative equity

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8 months' of mortgage arrears. Has an "agreement" with his mortgage lender to only repay one third of his debts.

He is absolutely indignant - how dare the mortgage company ask for their money back!

He was made redundant, which is obviously unfortunate. But why go heavily into debt if you don't have a stable job?

Christ on a bike

If they're not even repossessing people 8 fecking months in arrears no wonder there's no houses for sale!

Once all these unfortunate people inevitably lose their homes, then there will be a big fall in prices

Pent-up supply anyone?

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They might not want to repossess as it it may be negative equity

no, they will roll up the debts and put the difference into the government scheme. at 2 years, they will cash in, or the guy will have found a job and become ineligable for the scheme and lose it then.

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Guest KingCharles1st

This is one of the main reasons for QE

to repossess that house, do the legals, and then rehouse the guy (and family?) on the social would cost as much as those 8 months arrears, put another cheap house on the market and so on- so basically the banks get cash to fill the gap- well lets face it, they can seemingly do whatever they bloody want with the money

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no, they will roll up the debts and put the difference into the government scheme. at 2 years, they will cash in, or the guy will have found a job and become ineligable for the scheme and lose it then.

They may be waiting for some green shoots :lol::lol::lol:

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They may be waiting for some green shoots :lol::lol::lol:

yeah, snot ejected from the borrowers face as he realises he has gained time but really fracked his life up.

£500 a month arrears, compounded, dont half add up quick.

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yeah, snot ejected from the borrowers face as he realises he has gained time but really fracked his life up.

£500 a month arrears, compounded, dont half add up quick.

Someone must be laughing

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This is one of the main reasons for QE

to repossess that house, do the legals, and then rehouse the guy (and family?) on the social would cost as much as those 8 months arrears, put another cheap house on the market and so on- so basically the banks get cash to fill the gap- well lets face it, they can seemingly do whatever they bloody want with the money

Blimey. I never considered that. When all the repossessions start, where are those people going to live?

All the social housing has been bought.

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Blimey. I never considered that. When all the repossessions start, where are those people going to live?

All the social housing has been bought.

or it has been sold!!!

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Blimey. I never considered that. When all the repossessions start, where are those people going to live?

All the social housing has been bought.

they'll live in the homes that FTB renters were living in. profligate borrower rescued from self induced penury, prudent saver rewarded...as it should be.

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or it has been sold!!!

Maybe at the same time?

You are right tho.

they'll live in the homes that FTB renters were living in. profligate borrower rescued from self induced penury, prudent saver rewarded...as it should be.

Of course, House repossessed, ex owner rents ex ftb renters home, that was vacated by FTB who moved out of rented flat into recently purchased low cost house due to recent repossession, rinse and repeat. Thanks Bloo Loo, I hadn't thought it through.

Only need one vacant property initially for this cycle to work.

and affordable houses for ftb's.

So you only need two things for this to work.

and repossessions.

Three things. You only need 3 things for this to work.

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Maybe at the same time?

You are right tho.

Of course, House repossessed, ex owner rents ex ftb renters home, that was vacated by FTB who moved out of rented flat into recently purchased low cost house due to recent repossession, rinse and repeat. Thanks Bloo Loo, I hadn't thought it through.

Only need one vacant property initially for this cycle to work.

and affordable houses for ftb's.

So you only need two things for this to work.

and repossessions.

Three things. You only need 3 things for this to work.

and lower valuations, and FTBS with jobs.

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they'll live in the homes that FTB renters were living in. profligate borrower rescued from self induced penury, prudent saver rewarded...as it should be.

A lot will end up in the "hotel of mum and dad"

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Thanks Bloo Loo.

Five things.

That's all that's needed for this situation to develop.

That's all.

Five.

Yep... and all five are being resisted/worsened by the government.

so you'd need the government to change policy too....

..six things!

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and lower valuations, and FTBS with jobs.

Five things!! Just five things for this to work.

Its freakin masterplan allright. :)

Kick him out of his ******ing house and have done with it.

This is just more evidence of pre election dam building isnt it?

Its open season on Gordon the Beaver.

Edit. Tsk beaten to it. But its actually now SIX THINGS!! :lol:

Edited by shindigger

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Ok ok.

Apart from one empty property, affordable house prices for first time buyers, an increase in repossessions, lower valuations, ftb's with jobs and favourable intervention from the government to help all of the above things take hold, it's not going to take much before I can buy a house at a reasonable price.

I don't want much.

Just six things,

that's all.

and maybe my savings not to lose any more value.

Seven things.

That's all I want.

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Ok ok.

Apart from one empty property, affordable house prices for first time buyers, an increase in repossessions, lower valuations, ftb's with jobs and favourable intervention from the government to help all of the above things take hold, it's not going to take much before I can buy a house at a reasonable price.

I don't want much.

Just six things,

that's all.

and maybe my savings not to lose any more value.

Seven things.

That's all I want.

...and a fanatical devotion to the Pope

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8 months' of mortgage arrears. Has an "agreement" with his mortgage lender to only repay one third of his debts.

He is absolutely indignant - how dare the mortgage company ask for their money back!

He was made redundant, which is obviously unfortunate. But why go heavily into debt if you don't have a stable job?

That's unfair. Perhaps he thought that he had a stable job.

The company that let me go in December was booming last August. They went from telling the staff that they planned to take on an extra 10% engineers in 2009 to having to let 25% go a matter of weeks later.

Now you could say that this was negligent announcements by the management, but you can't lay any of the blame at the employee if he acts on them

tim

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