Where could i search for reposessed housing, or who is the best point of contact? Are repossed houses open to public auction?

-- david fineberg (d.fineberg@cmcplc.com), August 13, 2002

Answers

Try looking under "incomprehensibly" "insensitive" and "post" in a dictionary. When you've done that re-read the purpose of this site.

-- Too scared to say (iwasduped@yahoo.com), August 13, 2002.

Either you are a very selfish and greedy person David, looking to profit from the misfortune of others by purchasing an undervalued property that will most likely result in debt recovery action being taken by the 'owner' ie the mortgage lender bank or building society, against the former owner(s)ie. of ten people who have had a bad break, lost jobs, suffered from ill health, or a marriage breakdown that has caused them to run into mortgage payment problems.... Or, you are simply a professional JERK employed by a debt collection agency, solicitors, bank or building society, who thinks it is amusing to post these questions here. If you are the former then can I also add 'incredibly stupid and lazy' to 'selfish and greedy' since if you had taken the time to read earlier postings on the very same subject you would have realised that this is not a site set up to help SCUMBAGS like you. I hope that is clear. I imagine that you are also the sort of person who drops litter, reads the Daily Mail or the Telegraph, and wants to keep the pound.

-- Gordon Bennet (arsenewhinger@hotmail.com), August 14, 2002.

response to searching for reposessed houses

I stumbled across this site after doing a search on "repossession".

I understand that this forum is for discussion of issues surrounding repossession? All that I am reading however is post after post after post by bitter and twisted individuals seeking advice on how to avoid payment of their debts!

I am a private landlord owning a number of properties, most of which were purchased at auction. I rent the houses out and have converted some into flats etc.

It never ceases to amaze me the lengths that some people will go to to avoid payment of their bloody debt! Most of the properties I own have/had a list of CCJ's as long as your arm attached to them. My tenants are constantly hassled by debt recovery agencies, bailiffs, hire purchase companies etc looking for the previous owners.

Why don't you all face up to your responsibilities and try to get your debts paid? If I don't honour contracts I would expect to get sued.. what in gods name makes you people different?

Instead of whinging to each other about how best to deny the Building Societies of their cash, why don't you try a little honesty?

If you were a shareholder in any of the Building Societies (as I am) you would be damned insistant that debt dodgers be dealt with fairly.

Get on with it and stop moaning!

-- Owen Money (whitesmithylufc1@aol.com), August 14, 2002.

Dear Mr Smug, I suggest you stick to what you obviously know best, that is, profiting from other's misfortunes, and spare us the moral lectures. You are one of societies parasites rather than a creature to be admired.

-- Gordon Bennet (arsenewhinger@hotmail.com), August 15, 2002.

...and what, out of interest would you say if you bought a a property and was then forced ,through economic factors beyond your control (remember the early nineties, redundancies...interest rates etc?)to leave it and then to find that your lender had sold it for a fraction of the market value to people like you so creating this 'debt' in the first place? What if the insurance premium you took out in order to protect you from this danger turned out to not protect you at all even though this is EXACTLY how it was sold to you? This is not a debt but extortion and you are the kind of witless individual that makes me so, so tired.....

-- mark (cantpaywontpay2000@yahoo.com), August 15, 2002.

How dare you assume that everyone is avoiding their debt. How about your ex wife smashed your house Up left you and your child homeless. Avoided paying any CSA towards you then stopped paying the mortgage. Meanwhile you went to court to get an order for sale she refused to sell, you eventually got the courts to evict by which time your ex wife has systematically smashed your house up demolishing the garage and then disappearing out of the country and refusing to pay the mortgage whilst you struggled to bring up a child and obtain your qualification to enter into the profession you desire.

The house was then repossessed despite obtaining a warrant for possession allowing you to sell the house without your ex consent marketing the property at a reasonable price but when you obtain a decentish offer the mortgage provided will not abide by a warrant obtained by the courts and repossess the house bearing in mind you have a house to pay for because the parent you lived with died therefore you are completely incapable of paying the mortgage and cannot move in as the house is inhabitable. The mortgage provided then valued the house some £10,000 less than the valuation the chartered surveyor originally marketing the property quoted it and sold it for a £17,000 shortfall. Hence leaving you completely screwed insisting on screwing money out of you which would never has existing if they had a) they listened to the problem I was having with the ex partner and took matters into their hands earlier hence the house would have been worth £10,000 more than the outstanding mortgage b) they didn’t think that they were above the county courts and c) chased the person responsible for the unreasonable behaviour.

How would you like it if I assumed you were a landlord who charged ridiculous amounts for rent, did not carry out repairs when required and did not regularly arrange the service of gas fires etc therefore endangering lives and being negligent. Do you ever think that sometimes these large greedy firms namely mortgage lenders are at fault sometimes.

-- kgreen (rights@yahoo.co.uk), August 15, 2002.

I am shocked that some people have the nerve to use this site to search for repossessed properties for sale. I also would like to suggest that Owen Money (very original name) who posted a comment on August 14, 2002 should do a little research into matters before making such statements. What does the statement "Instead of whinging to each other about how best to deny the Building Societies of their cash, why don't you try a little honesty?" mean? I am in the middle of a major dispute with the Halifax in which they have financially crippled my partner and left her with a huge shortfall because of their negligence. How can this money owed be the building society's money as Owen Money suggests? I suggest that anyone who feels like writing comments such as this should try using their time more productively by researching topics they have not got a clue about.

-- Kaveh Damestani (kaveh_damestani@yahoo.co.uk), August 15, 2002.

Stop your bloody whinging!

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.

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..........

-- Owen Money (whitesmithylufc1@aol.com), August 15, 2002.

people like you have no idea, you are obviously so good at managing your money, never takes any tennants for a ride, and have always paid your way in life, gosh if only more people were like you, you are obviously very happy if a company were to add on £4k here, £6k there, on work they have done on your properties, obviously if you thought you had been overcharged by someone you would just pay it no questions asked, hey if thats what the invoice says well hey you'd better pay it hadn't you !

Enough, the idiot obviously hasn't anything better to do with his time than harass, upset, annoy people who are genuinely in trouble either through no fault of their own or, oh god heaven forbid, it is actually their fault, keep up the good work site, I have been coming back for info over the past year or so and it is very helpful, thanks.

-- alison (topbanana07@hotmail.com), August 16, 2002.

A small point to Mr Money. You claim to be prepared to stand up and be counted, but you aren't prepared to use your real name and details of where any of us who might like to meet you might find you, are you? So come on then Bigshot, I'd be very interested in discussing with you in person your world view and who knows, maybe you really are what you purport to be. What about it then?

-- Gordon Bennet (arsenewhinger@hotmail.com), August 19, 2002.

If you are so intelligent and so worldly wise in business matters (as you claim). Can I just ask why you felt the need to approach this site in your search for reposessed properties? It is quite apparant that this site is not linked to any estate agents. (were you unable to work that out). You claim to have bought several properties via auction, if you have then you know how the system works. Personally I think that you are entitled to your opinion, whatever it is. One word of advice for you, you claim to be a buy to let person, interest rates are low at the moment, your tenants may be good payers at the moment, house prices are high at the moment which is good when you plan to sell off your investments. The word of warning is high interest rates (most of us here can remenber them), your tenants may always not be good payers and have you ever heard of negative equity? If you ever experience any of these things or all of them at once it can be crippling. Enjoy your ride on the pigs back, but sometimes you can be pushed off. Who knows, we may see you reading these pages again, with a different intention!

-- (bagpus90@hotmail.com), August 20, 2002.

Owen. I am the so called cretin that suggested you research your facts before posting arrogant comments. Thank you for citing the basic mortgage code to me. Can you please use your superior intellectual skills to answer this question then: How can a lender ignore orders from the court that we received to try and sell a property ourseleves and therefore avoid a repossession and provide the lender with more of their money back? Rather than obey a court order, the Halifax decided to breach an order and repossess a property and then undersell it by at least £7000. If I had my way I would have sold the property and given the lender all of their money back (which is what you are suggessting everyone should do) but the good old Halifax seem to have very little intelligence and that is why we are left fighting. How about looking deeper into such cases before resorting to abuse? Surely you are old enough and mature enough to be able to post comments without resorting to name calling? Better still how about you go to a different discussion board on the Internet where your posts will not cause so much pain to other people in my situation.

-- Kaveh Damestani (kaveh_damestani@yahoo.co.uk), August 27, 2002.

What the hell are you on about, buying re-posessed houses makes sense. why should you pay full price when you can benefit from a 70% discount in some cases. it's not as if the person who lost the house is going to get it back is it? If you don't want anyone to buy it then do you think that all reposessed houses should be knocked down, are you crazy or something. i agree that it's unfair to have it re-posessed in the first place but hey, it happens so why not take advantage of it.........

-- Andy Gray (huntingdon_school@hotmail.com), November 17, 2003.

I think you all need to look at being more happy and stop discussing things that make you angry and unhappy. All things happen for a reason, misfortune or not.

-- Be happy, Move On (usermmwilson@aol.com), March 05, 2004.