Friday, February 20, 2009

Brown says “Don’t worry you little heads” and all the homeowners sigh in relief

Brown: Housing measures will help

Measures to tackle rising repossession levels will have an impact on homeowners, Prime Minister Gordon Brown said. Figures released by mortgage lenders indicate these went up by more than half last year. But Mr Brown insisted the Government is pulling out all the stops to ensure repossessions do not become as prominent in the current recession as in previous slumps. "We're going to do everything we can to stop repossessions," he said on a visit to his Fife constituency. "We're determined that this will not become as high a feature as it has been in previous downturns in the country. The measures we're putting in place are coming in and I believe that we will be able to see an impact on the rate of repossession."

Posted by 51ck-6-51x @ 03:41 PM (1429 views)
Please complete the required fields.



13 thoughts on “Brown says “Don’t worry you little heads” and all the homeowners sigh in relief

  • maybe “you” in the headline should have been “your” but I’m tired.

    Reply
    Please complete the required fields.



  • how are you going to do this Gordo?

    Reply
    Please complete the required fields.



  • How is Gordo going to do it? – Well I reckon he has been swotting up on his history and has read about one King Canute who sat on the beach and ordered the tide to stop coming in………………………………….

    Reply
    Please complete the required fields.



  • “measures will have an impact on homeowners”
    – ah he means those that own homes, that is the lenders.
    Now I understand.

    Reply
    Please complete the required fields.



  • The Government will only help out the Banks, not the struggling home owner. The debt will remain with the home owner unless he gives over any equity to the Bank. Banks 10 – Home Owner 0.

    Reply
    Please complete the required fields.



  • gordon no-one is listening to you anymore you talk utter SH*t………………. you only need to read comments from the public in all the papers…..

    Reply
    Please complete the required fields.



  • Which bank has the highest level of repossessions currently – Northern Rock.

    Who owns NOrthern Rock – The Government.

    Enough said.

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    I know I’m preaching to the converted and everything, but does he not understand the first thing about economics?

    It would be perfectly possible, for example, to change the law make it illegal for a bank to repossess a borrower, no matter how far he was in arrears. As a result, people would just stop paying their mortgages, unless their mortgages were very small and they needed a good credit rating in future, and banks would totally collapse – in practice this would be like cancelling mortgage debts, every penny of savings in banks would be wiped out (approx £1 trillion), to compensate the savers, he’d have to increase taxes by £1 trillion (that’s like an additional 20p on income tax for the next ten years), so we’d all be slaving away for little reward in order to pay ourselves back the money we are owed.

    Alternatively, he could print £1 trillion in bank notes and go door to door, giving everybody with a mortgage the exact amount needed to pay off their mortgage, which would dilute the value of savings by 50%, let’s say.

    Whichever way you look at it, this is a disaster waiting to happen.

    Reply
    Please complete the required fields.



  • Really Gordon no-one is listening to you any more.

    I promise they aren’t we are getting on with stuff ourselves.

    Just get out of the way.

    Reply
    Please complete the required fields.



  • Eternal Sceptic says:

    Short of giving money away, I would have thought all this will do is postpone an adjustment downwards in house prices. Maybe the government should take a percentage equity in houses of those in arrears.(Of those with a greater than 50% stake) This would be retrieved on the sale of the property.
    The householder retains a roof and also takes the hit of declining equity. Homelessness is kept under some degree of control, and money advanced is one day retrieved. Simplistic, but better than anything else I have yet seen.

    Reply
    Please complete the required fields.



  • Everything Gordon does turn to brown.

    Reply
    Please complete the required fields.



  • it_is_going_with_a_bang says:

    “”We’re signing agreements with the building societies and the banks that there is a moratorium on repossessions for people with these banks and building societies”

    Reminds me of the sign in the chip shop regarding the extension of credit terms provided you are over 65 and can bring both your grand parents down with you. We’re doing this and that, introducing,signing, agreeing, procedures, bla bla.

    Bottom line. If you don’t pay your mortgage you will get repossessed. It’s in the small print!

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>