Tuesday, October 9, 2012
Debt forgiveness ? WTF
Much of that is down to forbearance, the practice of giving struggling borrowers easier terms on a temporary basis. The Bank has estimated that as much as 8pc of UK mortgages are in forbearance, equivalent to about Â£100bn of debt. On commercial real estate loans, it reckons a third are in forbearance â€“ or roughly Â£75bn.