S
silverfield
Guest
Folks just wondering about your thoughts on this idea.
I want to default on my mortgage but am still currently employed - the reason being is the fact that my house is about 100,000 in neg equity and I don't want to live where I am and the banks will not work with me ( no personal debt and consistent savings ).
I have approached the bank stating that I would pay off the remainder of the loss on the house over time but they simply said that they would not release the deeds to the new owner unless the balance of the loan is settled and so therefore I cannot sell the house.
I feel that if enough people coordinated a mortgage default and a peaceful protest perhaps then the banks and the government would listen and actually come up with a viable plan. FG we don't want mortgage interest relief as this way the banks still win - we want an accelerated principal repayment scheme of some sorts!
Look what happened in Egypt which all started out as an idea on FB.
I'm simply putting out the feelers now to see what the public response would be to such an idea of coordinated mass default.
Thoughts....
I want to default on my mortgage but am still currently employed - the reason being is the fact that my house is about 100,000 in neg equity and I don't want to live where I am and the banks will not work with me ( no personal debt and consistent savings ).
I have approached the bank stating that I would pay off the remainder of the loss on the house over time but they simply said that they would not release the deeds to the new owner unless the balance of the loan is settled and so therefore I cannot sell the house.
I feel that if enough people coordinated a mortgage default and a peaceful protest perhaps then the banks and the government would listen and actually come up with a viable plan. FG we don't want mortgage interest relief as this way the banks still win - we want an accelerated principal repayment scheme of some sorts!
Look what happened in Egypt which all started out as an idea on FB.
I'm simply putting out the feelers now to see what the public response would be to such an idea of coordinated mass default.
Thoughts....