laughing_goat Posted November 4, 2005 Share Posted November 4, 2005 http://www.fool.co.uk/news/comment/2005/c0...m?ref=foolwatch Article about borrowing against your home at eye-popping interest rates, by the Fool's very own STR. Quote Link to comment Share on other sites More sharing options...
FTBagain Posted November 4, 2005 Share Posted November 4, 2005 Every possession case that I saw involved secured loans, second mortgages or impaired-credit loans. Makes you think, doesn't it? Interesting point when you consider the huge amount of MEWing that has been going on. Quote Link to comment Share on other sites More sharing options...
jellybean Posted November 4, 2005 Share Posted November 4, 2005 Interesting point when you consider the huge amount of MEWing that has been going on. My sister has done the whole debt thing. Twice. Managed to get through about 30K on shite living in London and them came back home to Scotland. The bank's gave up on her after about a year. She then got married and with a new name and various loans secured against her mortgage, got through another 30-40K. Her an and her husband then split up and sold the house and pocketed the money. They now have nothing again. I was thinking of actually setting her up as a buisness, I would take say 70% and leave her enough to live on. I would estimate to have made about 50K in five years and she would be none the worse of. I wonder if I would have to pay tax? All you would really need is no contience and a brass neck. Bit like buy to let only less risky. Quote Link to comment Share on other sites More sharing options...
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