High Court Blow For Uk Homeowners

[cupidstunt]

A landmark High Court ruling has paved the way for mortgage lenders to sell the homes of borrowers in arrears without seeking a court order, bypassing Gordon Brown’s efforts to make repossession a “last resort”.

The ruling, which the judge described as having “wide-ranging implications”, strongly reaffirms the statutory right of lenders under a 1925 law to sell a property independently after two mortgage payments are missed.

Mr Justice Briggs said the power to circumvent courts was “in the public interest” as it provided the essential security for mortgage lending at affordable rates.

http://www.ft.com/cms/s/76031846-aea9-11dd...;nclick_check=1

[cupidstunt]

Sorry just seen it's already posted! Mods please delete!

[lets get it right]

Gordon will have to nationalise all the banks without compensation. Write off all the debts and give everyone their house.

He'll be canonized by the Pope in pretty short order.

St. Gordon the benenvolent.

[gravity always wins]

I would hate to owe anyone money or fail to honour my debts.

Seems today the more you owe the louder you squeal and complain.

What is the point in lending money to an adult to buy a house and then not being able to get your money back when they fail to honour their promises.

This country is going to hell in a handbasket at least the judges understand moral hazard.