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laura122

Mortgage Protection Courtesy Of Government

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Was nt this meant to happen?

I cannot remember the name f the scheme but were redundant people not being allowed to claim interest on their mortgage?

How can these people default if the government stands behind them?

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Was nt this meant to happen?

I cannot remember the name f the scheme but were redundant people not being allowed to claim interest on their mortgage?

How can these people default if the government stands behind them?

Yes. Used to have to wait 9 months, which often meant repossession.

Now their mortgage interest is paid after 3 months, up to certain limits.

Lenders are happy to wait.

Edited by Time2Buy

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Yes. Used to have to wait 9 months, which often meant repossession.

Now their mortgage interest is paid after 3 months, up to certain limits.

Lenders are happy to wait.

China won't wait forever.

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Was nt this meant to happen?

I cannot remember the name f the scheme but were redundant people not being allowed to claim interest on their mortgage?

How can these people default if the government stands behind them?

Easy, they cannot. If the government had not interfered, house prices would be 50% down already and still falling. This is the case if you price homes in gold (real money)

You cannot expect to have a meaningful nominal price fall in a paper money system as corrupt as ours has become. It is completely impossible for the crash scenario long predicted on this board to play out in terms of paper money. You have to own gold or you will simply be hurt just to give these 'home owners' an easy ride.

Edited by Where is my pen?

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To date, no families have completed the process in Scotland, 15 were finished by the end of June in England, and Northern Ireland is still waiting for funding to start the project.

However, 70 families have been through the scheme in Wales.

http://news.bbc.co.uk/1/hi/business/8197387.stm

I don't know where the bbc figures come from but it agree with previous government data, the scheme must cost something to plan, administer, staff, advertise as well.

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Tut tut shame of you. You're actually hoping people with families get chucked out of their house so you can get one cheap?

Have you ever heard of karma?

You are nasty people. That's why you have f*** all.

There. Lesson in life over for today. :lol:

Hope you have a nice day flipping burgers tomorrow.

Why do you always assume people on here have f*ck all Sibs? I could probably buy your house twice over if I wanted (or even 3 times over in a couple of years time :lol: ).

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I don't want anyone to lose their house but I have a question : A vast amount of the 100,000 people a month losing their jobs will lose the ability to pay their mortgage(if they have one). Surely the government can't supplement everyone for ever..I'm guessing up to the next GE then it will be a big fat fu(k off....Another thing is I'm not afraid of house prices rising if I have to rent for ever I have to rent for ever...on the other hand if I had a big mortgage Id be very afraid of them collapsing in price

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Was nt this meant to happen?

I cannot remember the name f the scheme but were redundant people not being allowed to claim interest on their mortgage?

How can these people default if the government stands behind them?

Well yes quite.

Unless they have secured debt which they cannot pay even if the government pays their mortgage, but even then they offer and pay a £10 a month, job done, game over.

The only houses that'll be repossessed will be ones I wouldn't allow the dog to live in.

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Tut tut shame of you. You're actually hoping people with families get chucked out of their house so you can get one cheap?

Have you ever heard of karma?

You are nasty people. That's why you have f*** all.

There. Lesson in life over for today. :lol:

Hope you have a nice day flipping burgers tomorrow.

Burgers are made from............

Bulls.

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Tut tut shame of you. You're actually hoping people with families get chucked out of their house so you can get one cheap?

Have you ever heard of karma?

You are nasty people. That's why you have f*** all.

There. Lesson in life over for today. :lol:

Hope you have a nice day flipping burgers tomorrow.

Diddums. How is turnover these days? Are you strugling to survive on 2% of ****** all? Even on 3 days per week I must be making more in a month than you have this year.

And yes, if the indebted peasants can't afford to pay up they should be thrown out. I will be gracious though and not demand the return of a debtors prison.

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Easy, they cannot. If the government had not interfered, house prices would be 50% down already and still falling. This is the case if you price homes in gold (real money)

You cannot expect to have a meaningful nominal price fall in a paper money system as corrupt as ours has become. It is completely impossible for the crash scenario long predicted on this board to play out in terms of paper money. You have to own gold or you will simply be hurt just to give these 'home owners' an easy ride.

spot-on Where is my pen?,

it's posts like this that often get missed or misunderstood. :)

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I could probably buy your house twice over if I wanted (or even 3 times over in a couple of years time :lol: ).

No no no no no. Sibley's problem is not related to a house he lives in.

Sibley is showing anger now. Anger comes from fear. And what could cause such fear that he needs to find solace in anger and complete delusion?

Sibley is young and is the product of 3 generations of investor evolution. Sibley is 'Super Ponzi boy', the top of the investor pyramid. He knows the system, his parent probably built themselves a nice 'portfolio' over the years and gave him all the advice he needed. And recently, he bought himself a couple of off plan executive flats somewhere in the north of england. Soon he will have to find a mortgage to pay for his sickeningly overvalued investments.

And he knows but refuses to admit it to himself, that it was all a mugs' game and the mug was him.

Hence the rage, the taunting and the delusion.

So Sibley's problem is not a house. A BTL investment driven bankruptcy is what bothers the poor lad.

Sorry Sibley. You were highly adapted to your environment but your environment has changed. You're a Neanderthal now. Adapt or wither away.

Edited by williamdb

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Diddums. How is turnover these days? Are you strugling to survive on 2% of ****** all? Even on 3 days per week I must be making more in a month than you have this year.

And yes, if the indebted peasants can't afford to pay up they should be thrown out. I will be gracious though and not demand the return of a debtors prison.

Maybe you should demand it. Faced with winter after winter under a bridge or the prospect of prison, most would chose prison, and you need to do something pretty serious to get sent to a 'normal' one these days :lol:

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I don't want anyone to lose their house but I have a question : A vast amount of the 100,000 people a month losing their jobs will lose the ability to pay their mortgage(if they have one). Surely the government can't supplement everyone for ever..I'm guessing up to the next GE then it will be a big fat fu(k off....Another thing is I'm not afraid of house prices rising if I have to rent for ever I have to rent for ever...on the other hand if I had a big mortgage Id be very afraid of them collapsing in price

But that's just it - the government can and will subsidise "home owners" because the houses (and now the currency) were never worth what some valuer wrote on the lenders survey in the first place. It costs the government f**k all to pay the interest on your mortgage because the government will just print more money to pay for it. The idea that any of the national debt will ever get paid off is laughable too. To be fair, the government should just *give* everybody a house. Pass a new parliamentary act - call it "right to shelter" and just sign over a house to every adult in the country.

The government could then wash its (and the taxpayers) hands of all the debt and Britain would once again become competitive. It would gain more respect if it lowered the cost of living in the UK to such a level that the UK could compete with Chindia in cost of living terms, attracting jobs and investment back. Mortgage debt and high house prices are nothing more than a virtual yoke, placed deliberately on the shoulders of the productive, in order to bleed off the real wealth of the economy for the benefit of a minority. This has to change.

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I thought the government was merely deferring the interest and it had to paid back at some point .

It depends which scheme you're referring to, one is up and running and working, one isn't.

Basically if you are a 2 income household and one of you is made redundant and you have income protection from a private source you're fine, if 2 of you are made redundant with no payment protection again fine after 3 months, if one of you continues working but cannot service all debts, not fine better of resigning asap.

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But that's just it - the government can and will subsidise "home owners" because the houses (and now the currency) were never worth what some valuer wrote on the lenders survey in the first place. It costs the government f**k all to pay the interest on your mortgage because the government will just print more money to pay for it. The idea that any of the national debt will ever get paid off is laughable too. To be fair, the government should just *give* everybody a house. Pass a new parliamentary act - call it "right to shelter" and just sign over a house to every adult in the country.

The government could then wash its (and the taxpayers) hands of all the debt and Britain would once again become competitive. It would gain more respect if it lowered the cost of living in the UK to such a level that the UK could compete with Chindia in cost of living terms, attracting jobs and investment back. Mortgage debt and high house prices are nothing more than a virtual yoke, placed deliberately on the shoulders of the productive, in order to bleed off the real wealth of the economy for the benefit of a minority. This has to change.

Exactly I worked this out rather late unfortunately in 2007, that the government has every intention of paying peoples mortgages one way or another. If you loose your job better to be in a mortgaged property than a rented one, far far more security.

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