PMPV: Peoples mortgage protection vehicle

One good idea that's what will provide us with a peoples champion.the reality is that the banks will repossess ,the reality is that we will rehouse most evitees at a cost to the state.This will not show on banks books.AS sure as I know everything I say is not right Im Sure that every idea they come up with is not bad. Is it even remotely possible that there might be someone willing to take on theses homes as a collective or individual bonds?If so is it a feasible option? The one thing I am fairly certain of is that history will not be kind to most of the last and current dail and civil servants running the show behind the scene with exceptions of course .we have heard all about the doubts but it really is time for yes or no .We have left the foxes in charge of the chickens for long enough
 
Hi James

The lack of solutions is frustrating. But people should not be diverted by nonsense from people who won't put their names to their proposals.

It is better to try to come up with real solutions which might work, rather than hopeless solutions which won't work.
 
In business section of Independent today there is an article about these (freemen) and the way they are irking (normal) collection activity.

From reading it , maybe no harm having these (freemen) rattling a few cages?
In NO way am I saying (freeman) is correct but it may make (collectors) less strident and more amenable to solutions for genuine people.
 
I also don't think the freemen are right but obviously they are able to get their media coverage and seem to be able to slow the legal system up. Again this doesn't mean they are always wrong and are putting up some legitimate legal argument aswell as the bull according to the barrister.We all need independent views and different views to make our own minds up .One thing they do have is balls either as desperate men given hope or just as people fighting for their homes . The banks will evict and we will pay , the only decision left in my opinion is how can this be done quietly and effiently and left as a hard luck story but at the end of the day you brought it on yourself. I don't believe it will cost me more if we try get debt relief for homeowners in distress, I believe it will cost me more anyway.
 
bijou,
Thank you for posting this link. I am amazed that I knew so little about the corruption of the banks which suck us dry on a daily basis. Invaluable links spread from this one, so well worth a read.
 
I don't think the banks forced anybody to sign a mortgage document....people have to face up to their share of the responsibility for the mess they may be in.
These 'trusts' would'nt be around if house prices had continued to go up and some people were able to continue to borrow to fund a lifestyle that was never sustainable....not too many giving out about the banks back in 2005 or so, except perhaps when they couldn't get to borrow as much as they wanted!
 
"I don't have your money... It's in Fred's house... and Tom's house"

I think some of these myths were uncovered in 1946
 
bijou said:
I'm definately no financial whizz but I came across this article last week::

http://awakenlongford.wordpress.com...mportant-questions-you-need-to-ask-your-bank/

and wondered what peoples thoughts are on it?
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There is so much crap there that I don't know where to start. The only real point is about securitisation and they completely miss that. The majority of properly written loan agreements include the required sections to allow the loan to be securitised, and even if they didn't, the new "owner" of the loan usually gives the bank the legal right to enforce and collect the loan while paying them a fee for the duration of the loan.
 
44brendan said:
I'm not sure that this kind of rhetoric provides any comfort to anybody. There are large numbers of people in financial difficulties with their banks who are vulnerable to such schemes that advertise themselves as "peoples champions" etc. They continually promote solutions where there is ostensibly a "legal loophole" that can be surmounted by paying them money and joining their scheme. False hope is of no benefit if it leads to borrowers putting their trust and meagre resources into schemes that are ineffective and end up costing them money.
+1
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