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Bug16

Bbc: A Nation (re)possessed?

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BBC Website

It's really quite shocking to see how these "We'll buy your house to pay your debts" businesses operate.

"We saw an elderly gent living on his own whose home was valued at about £165,000," she recalls. "He had no mortgage but had fallen behind on credit cards.

"He agreed to sell his house for £40,000, so that's £120,000 below market value, and remains there - at the mercy, really - of the new owner on a six-month assured short-term tenancy, that can be ended at any point with two months' notice."

Edited by Bug16

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"Had there been another way I out I wouldn't have done it, but there was just no other way out if I wanted to keep the house."

newsflash skippy, you aint keepin the house!

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