Christ on a bike! First let me deal with the cretin who suggested that I research topics that I supposedly have not got a clue about. Feel free to correct me if I am wrong.(posted 7918 days ago)1. Having seen a property for sale you go to the Building Society and ask them to LEND money offering the property you intend to purchase as security lest you DEFAULT on the LOAN.
2. The Building Society make an offer of a Mortgage SUBJECT TO THEIR TERMS AND CONDITIONS. You are naturally delighted and thank the kind Building Society from the bottom of your hearts.
3. You sign your name to the Mortgage. You fail to note the words "your home may be at risk if you fail to maintain payment". You also neglect to note that most Building Societies do not have a "registered charity" number after their name.
4. You are very happy. Both sides have entered into a contract. The Building Society has honoured its side of the bargain by advancing the funds to you.... The rest is up to you viz payment of the LOAN.
5. You fail to honour your contractual obligations.
6. The Building Society will try and work out a reasonable plan to avoid having to enforce their RIGHTS UNDER THE CONTRACT.
7 As a last resort a repossession order is obtained and the property sold by the Building Society. They do not want to have the property empty and depreciating in value and so the property is often sold at a loss.
8. Borrower goes to ground aware that they probably owe money but hoping that they wont be found but the witless individuals don't cover their tracks sufficiently.
9. Building society locate borrower and ask politely for their money.
10. Whinge, squirm, whinge, whinge and whine!
How do I know this? I have a mate who is (whisper it) a bailiff. I showed him the site today and his response was that some of the evasion tactics exchanged here were very familiar to him.
To the moron who suggested that I was "witless"... All I say in reply is that in 35 years in business I've had to live to a large extent on my wits.. I've had hard times. I've had CCJ's against my name. Never ran away or tried to wriggle out of my obligations and emerged through the other side rich.
You lot can keep your "group hug". Carry on comforting each other and exchanging tactics on how to evade your creditors. You think I'm scum? At least I don't expect a free ride and am prepared to stand up and face my responsibilities.
Pull yourselves together and get on with your miserable lives!
Let the righteous indignation begin..........