yawnIHateSundays Posted February 25, 2008 Share Posted February 25, 2008 I just can't believe how crazy some people are. £360K mortgage on two properties, one in Spain, with a joint income of £2700/month: http://forums.moneysavingexpert.com/showthread.html?t=763109 Quote Link to comment Share on other sites More sharing options...
indebted Posted February 25, 2008 Share Posted February 25, 2008 Jeez-Loueez, how do these people sleep at night?? Quote Link to comment Share on other sites More sharing options...
jez123 Posted February 25, 2008 Share Posted February 25, 2008 A place in the sun and property ladder combined into one eh? These people really bought into it. Quote Link to comment Share on other sites More sharing options...
Paddles Posted February 25, 2008 Share Posted February 25, 2008 Best advice for these people is to watch the original version of Day of the Jackal, paying particular attention to the scene where Edward Fox is walking around the graveyard with a pen and paper and what he does with that information. Quote Link to comment Share on other sites More sharing options...
Jay76 Posted February 25, 2008 Share Posted February 25, 2008 They might as well have invested in 3 magical beans. Quote Link to comment Share on other sites More sharing options...
DoctorJ Posted February 25, 2008 Share Posted February 25, 2008 (edited) 1 Bed flat worth £160k but with £180k mortgage5 bed villa in Spain worth £450k with a £180k mortgage. Are they admitting that their flat has dropped in price or is 180K whats left over from a Northern Rock 125 special? Can't figure out where they raised the 270K difference for the villa - still 20K a year income isn't bad This post from Rachman cracked me up though You've got yourself into a current £100K of net debt in the UK - and that's before what you've already paid off those debts and ignoring any capital rise in your own flat. You are bust. Edited February 25, 2008 by DoctorJ Quote Link to comment Share on other sites More sharing options...
ezekiel Posted February 25, 2008 Share Posted February 25, 2008 I'm stunned. They've both got a modest income yet they've got stratospheric secured and unsecured debt. I love the way when they summarise their assets and liabilities they don't list the spanish mortgage and property - and when they do they put a massive valuation on it. What a load of cobblers. It annoys me that its idiots like this that have driven prices up (both here and abroad) when they didn't have the underlying income to afford it. I know its mean-spirited but I hope they have to suffer for a few years as a result of their speculation. Quote Link to comment Share on other sites More sharing options...
DoctorJ Posted February 25, 2008 Share Posted February 25, 2008 I'm stunned. They've both got a modest income yet they've got stratospheric secured and unsecured debt. I love the way when they summarise their assets and liabilities they don't list the spanish mortgage and property - and when they do they put a massive valuation on it. What a load of cobblers.It annoys me that its idiots like this that have driven prices up (both here and abroad) when they didn't have the underlying income to afford it. I know its mean-spirited but I hope they have to suffer for a few years as a result of their speculation. Doesn't sound like it to me. Most replies discuss bankruptcy as if to say ' oh well, you screwed up but it'll be ok, better luck next time.' Lets hope that credit conditions become so bad that these people will be royally shafted whenever they try to get any credit for the next 20 years. heres to wishing Quote Link to comment Share on other sites More sharing options...
talksalot81 Posted February 25, 2008 Share Posted February 25, 2008 It annoys me that its idiots like this that have driven prices up (both here and abroad) when they didn't have the underlying income to afford it. I know its mean-spirited but I hope they have to suffer for a few years as a result of their speculation. I think you are harsh. These sort of people are simply too stupid. They have not got the intellect to grasp the situation to be as bad as it is. Those who finance them are the problem. They make profit over the short term by taking advantage of stupid people. Quote Link to comment Share on other sites More sharing options...
frozen_out Posted February 25, 2008 Share Posted February 25, 2008 I think you are harsh. These sort of people are simply too stupid. They have not got the intellect to grasp the situation to be as bad as it is. Those who finance them are the problem. They make profit over the short term by taking advantage of stupid people. I wish I could be so sympathetic to their plight. If it had all come off for them it would have been trebles all round and them proclaiming their financial prowess whilst looking down their noses at the prudent. No sympathy for me on the way up, no sympathy from me on the way down. Quote Link to comment Share on other sites More sharing options...
grey shark Posted February 25, 2008 Share Posted February 25, 2008 I think you are harsh. These sort of people are simply too stupid. They have not got the intellect to grasp the situation to be as bad as it is. Those who finance them are the problem. They make profit over the short term by taking advantage of stupid people. No he isn't he's telling it as it is , there in there 20's appear to have no children , but thought they were flash and clever , for a time at least , now things have changed so these 2 must suffer the consequences of there stupidity............. ...................a big thumbs down from me , let them suffer . Quote Link to comment Share on other sites More sharing options...
EmpiricalBear Posted February 25, 2008 Share Posted February 25, 2008 I think you are harsh. These sort of people are simply too stupid. They have not got the intellect to grasp the situation to be as bad as it is. Those who finance them are the problem. They make profit over the short term by taking advantage of stupid people. Nonsense. We are heading towards 'Idiocracy' if we think it makes sense for people who make stupid decisions to prosper over the smart people who made the right judgement but the wrong call. Like me Quote Link to comment Share on other sites More sharing options...
talksalot81 Posted February 25, 2008 Share Posted February 25, 2008 No he isn't he's telling it as it is , there in there 20's appear to have no children , but thought they were flash and clever , for a time at least , now things have changed so these 2 must suffer the consequences of there stupidity............. ...................a big thumbs down from me , let them suffer . Suffer they should, but because they are stupid. You can't honsestly debate that an individual in this position is anything other than frighteningly stupid! Quote Link to comment Share on other sites More sharing options...
frozen_out Posted February 25, 2008 Share Posted February 25, 2008 No he isn't he's telling it as it is , there in there 20's appear to have no children , but thought they were flash and clever , for a time at least , now things have changed so these 2 must suffer the consequences of there stupidity............. ...................a big thumbs down from me , let them suffer . Exactly, I wonder how many hours they've spent down in their local bragging to anyone who'd listen about their spanish properties that bring in 20k a year. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted February 25, 2008 Share Posted February 25, 2008 This one looks genuine but there does seem to be alot of trolling recently over at MSE. Quote Link to comment Share on other sites More sharing options...
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