Thursday, September 14, 2006
How can people be so stupid?
Hundreds of thousands of people are failing to maintain mortgage payments and risk losing their homes, according to a Citizens Advice survey. More than one in 10 of the people surveyed wrongly believed a secured loan meant they could miss repayments but their home would still be safe. A further 10% of people thought it was a loan where borrowers could pay back as little or as much as they want each month.