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Repossessed
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Did any of you watch this on BBC last night? Documentary following 3 couples who were facing repossession.
What did you think about it?
What did you think about it?
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I didn't see the program but a lot of repossessionare are avoidable. Ok lose job = Lose house usually. I'm talking about where people get themselves to the limits of their finances and wallop, interest rates rise or their discount period runs out. They can't afford it so they pay nowt, bury head in sand and wonder why they get reposessed. No judge will boot you out if you are making an effort. Just keep paying what you can, if the rates rise just keep paying what you can and talk to the lender. Lender's hate the head in sand mob.
couldnt agree more.....myeself and my partner could survive with eating and paying mortgage on only one salary (30k) ok, no kids but surely there are other options, you can earn 20k stacking shelves at sainsburys if you want to put teh overtime in.....if it were that or lose teh house i know what i would do...
And here i was thinking this thread was about the old Leslie Neilson flick:
http://www.imdb.com/title/tt0100475/
http://www.imdb.com/title/tt0100475/
I have to agree that all 3 couples had been very very silly when it came to their finances.
One couple in particular - he was self confessed illiterate and no opportunities for his future (he bought and sold 2nd hand cars) - they were in a council house for years and had the opportunity to buy. The bought the (3 or 4 bedroom) house for �40k.
They then had it remortgaged "several times"
My mind boggled how on earth any Company would remortgae his house knowing it was already re-mortgaged a couple of times already.
His attitude absolutely stunk. He was Fing and blinding to his mortgage Company. It was HIS fault, not theirs! Also, their house was kitted out with a TV in every room etc. - all the luxuries we have when NOT in debt.
The day they were repossessed they still didn't have somewhere to go....Q him on the phone to the council Fing and blinding to them this time - he was very rude to the poor soul on the other side of the phone. They eventually were given a caravan to live in temporarily.
He said he "never get another mortgage again" and "Mortgage companies cannot be trusted". Completely slopey shouldered and blind to the fact it's unlikely he'll be offered one anyway.
But never mind, he's "been wanting to live in a caravan since childhood". Figures.
One couple in particular - he was self confessed illiterate and no opportunities for his future (he bought and sold 2nd hand cars) - they were in a council house for years and had the opportunity to buy. The bought the (3 or 4 bedroom) house for �40k.
They then had it remortgaged "several times"
My mind boggled how on earth any Company would remortgae his house knowing it was already re-mortgaged a couple of times already.
His attitude absolutely stunk. He was Fing and blinding to his mortgage Company. It was HIS fault, not theirs! Also, their house was kitted out with a TV in every room etc. - all the luxuries we have when NOT in debt.
The day they were repossessed they still didn't have somewhere to go....Q him on the phone to the council Fing and blinding to them this time - he was very rude to the poor soul on the other side of the phone. They eventually were given a caravan to live in temporarily.
He said he "never get another mortgage again" and "Mortgage companies cannot be trusted". Completely slopey shouldered and blind to the fact it's unlikely he'll be offered one anyway.
But never mind, he's "been wanting to live in a caravan since childhood". Figures.
i watched it.theres a thread in cb about it.
i did think that the problems were self inflicted by overstretching themselves financially.
a guy with a bad credit rating had a mortgage of 11% which he said was the building societys fault.
but how did he get the rating and why was he still trying to borrow more?
most of the folk in my opinion were living beyond their means.
dth?
i did think that the problems were self inflicted by overstretching themselves financially.
a guy with a bad credit rating had a mortgage of 11% which he said was the building societys fault.
but how did he get the rating and why was he still trying to borrow more?
most of the folk in my opinion were living beyond their means.
dth?
Exactly R1, one of the couples that was facing repo was because his business wasn't doing very well (an extension of the credit crunch). They went to court and were there for an hour talking to the judge and going through all the figures with him and demonstrating that they are very much trying to get up to date with their payments. They were given a 6 month reprieve.
That couple I first talked about though, waste of time and space. She didn't work as far as I could tell (kids were old enough for her to get school hours work), he went to a car auction but didn't appear to be making any effort - I didn't see him check the cars out, just stood about like a right lemon.
That couple I first talked about though, waste of time and space. She didn't work as far as I could tell (kids were old enough for her to get school hours work), he went to a car auction but didn't appear to be making any effort - I didn't see him check the cars out, just stood about like a right lemon.
the other couple were remarried i think had 7 kids
and when times got tough and they got 5 grand behind she had to get a job in a butchers.
only 200 quid a week and not the best of jobs!!
why wasnt she working all along.
it amazes me that folk have all those kids yet she sat on her arse until theyre in deep?
and when times got tough and they got 5 grand behind she had to get a job in a butchers.
only 200 quid a week and not the best of jobs!!
why wasnt she working all along.
it amazes me that folk have all those kids yet she sat on her arse until theyre in deep?
2 of those kids were her nieces too.
At least she was working, Leg, the couple that ended up in the caravan, that's the woman I didn't see or hear her say anything about a job. Those two really got on my goat, they're a pair of chavs that blame everyone else for their own utter stupidity.
The couple that held their hands up and declared bankrupcy....he was a financial advisor!
At least she was working, Leg, the couple that ended up in the caravan, that's the woman I didn't see or hear her say anything about a job. Those two really got on my goat, they're a pair of chavs that blame everyone else for their own utter stupidity.
The couple that held their hands up and declared bankrupcy....he was a financial advisor!
I have to agree with eyebrows. When my OH walked out on me he was the main breadwinner. My wages were �10 more than my mortage. So that left the endowment policy, council tax, water, leccy. gas, eating, TV licence etc to be paid. I took on a bar job in a nightclub 5 nights a week plus I went and did "lunch times" for the stall holders for a fiver a time in the local market at weekends. I lived off beans on toast, gave up Sky TV and luxuries such as wine, chocolate etc (except when given as pressies) and took in a lodger. I not only paid all my bills I actually paid off �3k off of my mortgage in the first 2 years. It was hard work and I wouldn't wish it on my worst enemy but I kept the house and life got loads easier. I wasn't brought up to believe that life owes me, unfortunately people seem to think that its their right to have all these goodies without having to work for them
1. The Gloucester couple paying 11% interest - he annoyed me to death with his attitude. If he wasn't earning a penny as a financial adviser, why couldn't he get off his backside and get a job....any job?
2. The common as muck couple with the husband who allegedly bought and sold secondhand cars were total wasters. Even if he was illiterate, he could have got a labouring job.
3. I felt sorry for the builder chap - at least he was working his buns off and trying his best. It was irresponsible of them to keep remortgaging time after time.
The common theme throughout seemed to me to be that it wasn't their fault. Oh yes it was!
2. The common as muck couple with the husband who allegedly bought and sold secondhand cars were total wasters. Even if he was illiterate, he could have got a labouring job.
3. I felt sorry for the builder chap - at least he was working his buns off and trying his best. It was irresponsible of them to keep remortgaging time after time.
The common theme throughout seemed to me to be that it wasn't their fault. Oh yes it was!
Wel done, Maggoty! I wish you didn't have to go through all of that, but I agree with R1, if only everyone else was like that.
Exactly, Mrs O, I was disgusted at their attitude of blaming everyone but themselves.
Personally, I'd rather sell everything in my house and sleep on bare floorboards than get my house repossessed and work my butt off to get myself sorted like maggoty.
Exactly, Mrs O, I was disgusted at their attitude of blaming everyone but themselves.
Personally, I'd rather sell everything in my house and sleep on bare floorboards than get my house repossessed and work my butt off to get myself sorted like maggoty.
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