Re: repossed help
 

That's exactly what kids are all about though, isn't it?

I am hoping that the one bad response hasn't chased the OP away from the forum.

That would be a shame.

I really do believe that what goes around comes around, and that rjt3 will find that he/she can find a way out of this situation, and that techieguy never needs any help.

If you are still reading your thread rjt3, there are many more who will offer you good advice and help, than will speak to you as techieguy has done.

If you don't want to 'speak' on the forum, use the PM facility to ask for help and advice.

Mxxx

Re: repossed help
 

Sorry Pollyanna, we cross posted.

I'm not trying to be abusive to anyone, just trying to point out to rjt3 that the majority of posters on the forum are out to help, not hinder.

M

Re: repossed help
 

Was there any need to give such a silly unhelpful comment like that?
Whatever the reason for loosing a home like that is hard but sometimes must be done. give helpfully comments, they want to start again and encouragement and advice can only help.
Yes i know what it's like i had to do it on advice from citizens advice and believe me there is no worse feeling than loosing your home after being in it for years. I picked myself up got a sponsor in Perth and hope to go soon and try again. I have a lovely family and we will pick ourselves up and move on.

Re: repossed help
 

I just think too many people have overstretched themselves because of the obsession with owning a house and I have no sympathy for these fools.

Re: repossed help
 

I've got some sympathy for what you say. Certainly in Perth when people were paying $600K for nothing and are now moaning about negative equity.

BUT when it is your only house and you're struggling to pay even a basic mortgage, then it isn't as straightforward. And I think you could hear the angst in the original post.

Re: repossed help
 

OK, so you have no sympathy. But as your reply did nothing towards giving this person help, and that is what was asked for in the OP, it looks as though you have just joined this particular forum to sneer and look superior. I can't really understand why you would need to do that.

And now you have called the OP a "fool". I am sure that you can see from the replies to your original post that your opinions are hurtful in this case. I suggest that you leave this one alone now.

Re: repossed help
 

Well I like to see various opinions, it’s a public forum.
Techieguy is entitled to his opinion and in part he is correct.
People shouldn’t overstretch themselves and should always make allowances for the rainy days.

He certainly wont be alone in this opinion.

However, these people do have to realise that it’s down to financial education and not necessarily down to the person being a “fool”. Just because a person has not been fortunate enough to have been given the correct tools to make sound financial judgments then that does not make them a “fool”.

Threads such as this one are useful, not only for providing the OP with help and advice but also to help other people make better choices and highlight the dangers of over stretching themselves financially.

Re: repossed help
 

You are assuming that those in financial difficulty have overstretched themselves. I haven't overstretched myself, I fell ill and cannot work. Therefore I am now struggling with debts.
I think if everyone reads past posts on different threads by Techieguy they will jump to the same conclusion I have. The guy is a troll. Making comments that will start an argument or generate upset.

Re: repossed help
 

Well in theory you did overstretch yourself because you didn't make allowances for that scenario. We all know we are at risk of being ill/unemployed so why not prepare for that event. I'm just being pedantic here by the way, I'm not being critical.

The only point I'm making, as I have already posted on this thread earlier wishing the OP luck etc as I do know the pain they are experiencing, is do not stifle debate. If the OP and yourself post your experiences and how you came to be in that situation and it is debated then it is a valuable lesson for other people.

Re: repossed help
 

Yep, thats pedantic!!!!!

How do you make allowances for a serious illness. Save some money - check. Take out insurance - check (not covered).
You can't put every single penny away otherwise i'd have been in this situation a lot earlier.
How prepared are you Beppe? Do you have a years wages stashed in the bank?
I have a couple of years wages stashed in the sale of my house - so back to the original post. If i could sell my house I'd be ok. So haven't i planned for the future by the investment in my house?

Re: repossed help
 

How ignorant you are! It is actually the fault of the lenders as has been proved in the USA. They are eager to lend anyone money regardless of ability to pay if interest rates go up. I have heard of lenders offering 4 times joint income which is absolutely ridiculous - at 4-5% interest that is ok but what happens when it goes up to 10%. There is no surplus income to pay it.

Having owned houses over a number of years (too many to mention) we are well aware that today interest rates could 4-5% but next month/year they could be 10-15% as has happened in the past. With global businesses and economies what happens on the other side of the world will have a bearing on what happens in the country you are living in and lenders have to take responsibility when giving loans. Many young people and first time borrowers have no knowledge regarding what could happen as they have not experienced it and therefore need protection and guidance which is not given.

People become sick for extended periods of time or are made redundant and have not always taken out the appropriate insurance - but does everyone take out insurance to cover everything.

Re: repossed help
 

I think that the current housing market situation has shown that you can't count on investment in property to help you in tough times. Too many people have relied on the money they have in their house to see them through or as a buffer. Unless you can realise the equity in your house you have no savings at all and that is what is hitting a lot of people on this forum at the moment.

I have enormous sympathy for anyone in the OP's position, we were lucky enough to sell our house earlier this year after a long 15 months of trying. I agree with Beppe that financial education and preparing for the future is key to someone being able to get through tough times.

You don't know what is going to happen next year but I would suggest that relying on equity in your house is not the answer.

Re: repossed help
 

Oh if only more fathers cared as much about their children as you obviously do the world would be a better place!

Hang in there. You deserve for life to get better and I am sure it will.

Good luck with whatever decission YOU choose to make.:thumbup:

Re: repossed help
 

I was trying to avoid going down this route as it wasnt the intention of my post :)

I am not being critical of you or "blaming" you, but yes ultimately there are steps you could have taken to avoid the worst of it. I know there will be a million and one cases where this is difficult to achieve and you may be one of those cases. I cannot judge you as I do not know all your circumstances.

Why did you buy your house? Why did you borrow money? Why did you expect to sell your house for a certain price within a certain time frame etc etc? The list can go on. It's all choices that we make that rely on our circumstances not changing for the worse or even in some cases improving. The answer is social conditioning, which is why I'm not prepared to go down the "fool" route.

By the way, I wish you a speedy recovery from your illness.

Re: repossed help
 

Absolutely, do not put all your eggs in one basket. How old is that saying!?