H
How to Cope
Guest
I am new to this site - a friend said should go on it. Therefore excuse me if my suggestion has come up here before.
Is it possible for those in mortage arrears and other difficulties with their banks to come together and form their own mutual or co operative bank?
Thinking of an approach similiar to the Land Leage movement of Davitt and Parnell where land was taken from landlords - tenants came together and were listened to.
In our case we would take control of own debts - get long term low interest finance ( which banks are getting) from ECB - 30 years at 1% and cut out the profitteering bankers who are looking for blood.
New entity would be owned by mortage holders and would give flexibility as it has no other purpose then to support those in difficulty and has a 30 year timespan. Would not have to raise new finance so no worries about 'going to market' etc.
Is it possible for those in mortage arrears and other difficulties with their banks to come together and form their own mutual or co operative bank?
Thinking of an approach similiar to the Land Leage movement of Davitt and Parnell where land was taken from landlords - tenants came together and were listened to.
In our case we would take control of own debts - get long term low interest finance ( which banks are getting) from ECB - 30 years at 1% and cut out the profitteering bankers who are looking for blood.
New entity would be owned by mortage holders and would give flexibility as it has no other purpose then to support those in difficulty and has a 30 year timespan. Would not have to raise new finance so no worries about 'going to market' etc.