mmm-Are we finally getting there-but theres more to come believe me.

[mercyblue]

CML figures are only 1st charge possessions I'd like to see the total that would be much more of a true figure.

[Tawnyowl]

Finding some interesting things out.I believe there were just over 13000 repossession orders applied for resulting in the 9100 granted.Ell-enn must have helped some not granted.

Just wondering what anyone thinks of this statement found somewhere on the web

.An interesting statistic (should anyone have it) would be the rate of repossessions on former council houses sold to tenants.

They are the people who were targeted by the the mortgage broker industry (paying thousands in fees to find a mortgage they could not afford, sold to them on the supposed glamour of owning your own home, thousands charged in PPI fees etc) and who were sold self cert mortgages etc. They are also the same people who fell in arrears and who have been targeted by Firms buying and then letting back those homes, allowing the 'owners' to clear their debt, rent for a period, watch the rent go up and then lose their home allowing the 'rescuers' to make a healthy profit.

Anyone with any experience.

[Tawnyowl]

outdated post.

Edited July 5, 2011 by tawnyowl

[Tawnyowl]

Very sad to hear a local first time young couple,despite having mortgage and deposit organised ready to go lost out on their dream.Sameprice.Another first timers property to the rental market.

[Tawnyowl]

Supported a protest in 2009.Seems things are gathering a bit of momentum.People power.http://metrotimes.com/news/up-against-the-banks-1.1171446 America.

[Tawnyowl]

Interesting.I like it.

Modification Versus a Lifetime of Debt and Possible Foreclosure!

 

August 2nd, 2011 Following a disastrous few years within the housing market, President Obama and his government have introduced the new mortgage rate modification plans. With house prices plummeting to an all-time low and up to 4 million US homeowners struggling to make their mortgage repayments, something needed to be done!

This is where the government have stepped in and offered help. The new mortgage loan modification schemes can not only help you to avoid further debt and possible foreclosure, they can also help you get back on your feet financially.

Let’s face facts: Foreclosing a property actually benefits no-one. For you it is the worst possible scenario you and your family could face and for your lender there are huge costs involved. Therefore, no matter what you actually think, all lenders would prefer to make some kind of mutually beneficial arrangement with their borrowers!

So how exactly does mortgage rate modification work?

The main intention is to reduce your monthly mortgage repayment to an acceptable level. Obama, his government and mortgage lenders have come to a figure of 31% of your monthly income. Therefore, all modification of mortgage plans will attempt to reduce your monthly repayments to this specified level.

First things first, your lender will look to reduce your mortgage interest rate. Their aim is get you on a fixed rate of 4.5%. This should substantially reduce your payment and the fixed rate benefits you by allowing you to pay exactly the same amount every single month. So no nasty surprises! If, however, after this reduction in interest rate your payment is still not at the desired level, your lender has the opportunity to take this rate as low as 2%.

Simple mathematics will tell you, if you have a $100,000 loan and you reduce your mortgage interest rate by just 1%, this will equate to a $1000 saving each year. Now these new mortgage rate modification plans are intended to run for 5 years, so how much could you potentially save yourself in that time?

If you desperately need to lower your mortgage repayments and don’t have up to $5000 to start the process, then you need to take advantage of a DIY Mortgage Loan Modification Kit today.

To find out if you qualify for President Obama’s financial help please Click Here

Anyone like this way of doing things.

Edited August 2, 2011 by tawnyowl

[Tawnyowl]

Bit of info from America on mortgage house prices etc.

Anyone like this American idea for first time buyers- http://blogs.wsj.com/developments/2011/08/22/time-for-more-housing-stimulus/

 

News on American house prices as unemployment rises. http://www.bloomberg.com/news/2011-08-24/u-s-home-prices-fell-5-9-in-second-quarter-as-foreclosures-depress-value.html

 

Dodgy dealings on American investigations into mortgage practices.

http://www.bloomberg.com/news/2011-08-23/new-york-is-removed-from-state-foreclosure-group-after-voicing-concerns.html

 

Some information on news of Britains mortgage and repossession news.

http://www.guardian.co.uk/money/repossessions

Edited August 24, 2011 by tawnyowl

[straftat]

not much help in the uk now is it ?

[Tawnyowl]

Hi straftat,

Sorry you find this thread so uninteresting.It was meant to show a few things that were happening here and America and elsewhere.

Hoping,maybe that some ideas if helpful enough may spread to the UK.Trying to show people elsewhere facing similar problems and their attempts at

solving them.Also giving hopefully news that may prove interesting to someone.And maybe a read that gives a break for a minute or two from battles,troubles with mortgage companies here. If you can not see that unsubscribe button is not far away.Have a good life.