Defaulting on mortgage options

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Ecstatic,

Listen - you've been told and told and told what will happen. You are not going to get the answer you want here. The bank gave you a loan, it did not make a property investment - YOU did that all by yourself. Grow up for god's sake.
 
ecstatic said:
the government have pumped minimum of 7 billion + into the banks so far thats circa 8% of gdp and backstopping anglo will probably cost the same again!!!

if we all default we would send a serious signal.
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Ok, are you being serious or just winding people up with this thread? Seriously come on now?!
 
ecstatic said:
the government have pumped minimum of 7 billion + into the banks so far thats circa 8% of gdp and backstopping anglo will probably cost the same again!!!

if we all default we would send a serious signal.
Click to expand...

you're correct it would send a serious signal and you will still be responsible for your debt
 
the OP is obviously just having a laugh. he rode the gravy train for years and now dosent want to face up to HIS mistakes. look man, you made a massive mistake buying this property, try and be a man and admit that
 
ecstatic said:
if we all default we would send a serious signal.
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yes - the first sensible thing you said! Just a shame you don't mean it the way I would

ecstatic - face up to it. You've asked the question can you default painlessly and walk away scot free, the answer is no defaulting isn't an easy or an quick fix option. By all means, talk to your bank, offer them your proposal and see what they say.
 
Kate10 said:
Ecstatic,

Listen - you've been told and told and told what will happen. You are not going to get the answer you want here. The bank gave you a loan, it did not make a property investment - YOU did that all by yourself. Grow up for god's sake.
Click to expand...

Totally agree, and on this note, can I request the Mods close this thread.

OP has been told what will happen and the thread is destined to end up OP giving out about Banks and Goverment.
 
I believe the OP posted this back in 2008 in response to an investor who had lost money on commercial venture in NY....!!!???? Perhaps he should take his own advice!!!

Re: KMS New York Apt Fall out
You are joking no>?

U took the risk so should have positioned your hedge correctly.
 

lol , post of the year.
 
curiously, that is just plain rude, your comment adds nothing to the discussion.

Love that lou34 - I was just looking for the same post
 
so-crates....it does get better!

Posted in 2007

"Recently i was in a not so insimiliar situation as yourself probably worse i was negative on my property but had good LTV. I remortgaged etc bit the bullet and wouldnt look back. A good book i recommend is "the coming economic collapse" fantastic."

Nuff said..............I think all that can be said on this thread has been said!
 
In April 2007 the OP (ecstatic) said...

"I bought a property for 555K with a mortgage on it of 510k which has an approximate value of 700K. Tracker mortgage ECB +1% .

My personal finances are 100K a year with a steady position / working life. 40K-50K in my bank account aged 27.

Also own an property valued at 210k with mortgage of 100k on it in foreign country, this cannot be remortgaged as easily as in Ireland as it takes so long to process.

I am looking to purchase investment properties potentially in London / Continential Europe with high leverage and interest only combined with high yield to pay for it.

Whats the best approach and which bank is the best to sort out a remortgage and to what value can i remortgage? It is my PPR.

Any advice appreciated on moving my financial matters forward. "

Also..

"Ldferguson, only interested in repayment on my home as its my PPR. Interest only on investment stuff as it seems to be way to go from advice on AAM and other sources. Who offers 95% on PPR and at what rate ?"
 
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