simple solution to high mortgage debts

[Pondlife]

Don't pay them

A man who did not pay his mortgage for 15 years has been told by a judge he can keep the house and will never have to repay the debt.

Djabar Babai took out a loan on the house in Heaton Mersey, Stockport, in 1989, but has not repaid anything since January 1993 - a £40 payment.

Simple if you think about it.

[AlfredJPruffock]

Don't pay them



Simple if you think about it.

On a more disturbing note - there is an alarming social trend in the US for would-be-owners to torch houses on which they cant make the repayment and claiming the insurance ...

[Bagpuss]

Don't pay them



Simple if you think about it.

This sounds like a freak k ockup, normally the banks can't wait to evict. I bet his details were lost, and only realised in a random audit of accounts. Can't really feel that sorry for the Natwest, good luck to him I say.

[DimPrawn]

As they say...

If you think noone would give a toss if you vanished off the face of the Earth tomorrow, try missing a mortgage payment.

[PAH]

This is why I routinely 'accidentally' delete direct debits and standing orders, now it's so easy with online banking.

On a similar theme do squatters still get owner rights after 10 years (or whatever the period was/is) if they're left alone for that long?

There are quite a few derelict buildings knocking around that look like they haven't been touched for many a year, some that may even be listed buildings. So how do I go about becoming a registered squatter to get the clock ticking?

[Ardesco]

This is why I routinely 'accidentally' delete direct debits and standing orders, now it's so easy with online banking.

On a similar theme do squatters still get owner rights after 10 years (or whatever the period was/is) if they're left alone for that long?

12 years I believe, and yes you do.

There are quite a few derelict buildings knocking around that look like they haven't been touched for many a year, some that may even be listed buildings. So how do I go about becoming a registered squatter to get the clock ticking?

Just move in and start sitting I assume that some way to prove when you moved in would be a good start.

[PAH]

12 years I believe, and yes you do.


Just move in and start sitting I assume that some way to prove when you moved in would be a good start.

Yes that's what's stumping me. Maybe keeping a room set aside for 12 years worth of refuse waste would do, especially if I used newspaper for loo roll with their handy dates in the top corner.

Or do they expect squatters to register for council tax!?

[ratewhore]

This sounds like a freak k ockup, normally the banks can't wait to evict. I bet his details were lost, and only realised in a random audit of accounts. Can't really feel that sorry for the Natwest, good luck to him I say.

For those with Northern Rock mortgages, rest assured that, under Govt control, your data WILL be lost...

[PAH]

For those with Northern Rock mortgages, rest assured that, under Govt control, your data WILL be lost...

Good point.

Also, try adding a letter to your house number (e.g. 123 becomes 123A), then you can tell any bailiffs they've got the wrong house and watch them scratch their heads in confusion as they look next door for it.

This also works when entering special offers that are strictly one per household. They don't know you don't live in a block of flats.

[Ruprect]

http://digg.com/business_finance/Why..._Home_Mortgage

Walking away - all the rage in the states at the moment, but they don't have the same legislation regarding bankrupcy that we do...though it still has the potential to f*k up the global economy even further.