With all due respect, reasonable to whom ? I'm sick of listening to this word 'Vulture fund' as soon as any debts are being sold. Debts have been sold for years and will continue to be. That is the nature of business.In my own case I sent numerous resonable proposals and my loan was still sold on to a vulture, why wasn't I offered the chance to buy it at a discount ?
in your opinion.Elcato , Reasonable to both the borrower and the bank.
in certain cases yes. Not if the occupier has no chance of recovery.You don't think its better to keep people in their homes ?
Agreed but beside the point.The amount of money tax-payers have and will continue to put into banks over the last few years is sickening
They would have to go through each case one by one which would be way too costly. It's called bulk buying. As I said that's business.What does a bank do in return for the favour , sell your morgage to a vulture at a heavily discounted price and NOT give you the opportunity to buy it at the same price.
Nope. I never said it was but as I said it depends on the situation. Just because one person thinks they are been reasonable does not mean it is.Elcato do you think that inability to pay your full mortgage is the same as "not engaging" ?
Yawn.With all due respect too, wake up man!
In my own case I sent numerous resonable proposals and my loan was still sold on to a vulture, why wasn't I offered the chance to buy it at a discount ?
If you knew you were going to be kicked out of your house would you continue to pay rent ?
sorry should have been clearer ,
What i mean is, If your poor and were going to be kicked out of your house, would you continue to try and pay your mortgage ?
So strategic default?If you knew you were going to be kicked out of your house would you continue to pay rent ?
So strategic default?
Unless you get a deal you find agreeable and then you settle with the Bank.
Win Win for you
What if its impossible to negotiate a deal with a vulture and bank.
Say you pay what you can afford and its then sold to a vulture anyway?
I was advised that a vulture has no intention of doing deals, they want a quick profit and usually try to sell within 5 years.
Brendan
Lets say if i could afford to pay half the amount, wouldn't the bank keep threatening repossession ?
Are you saying i shouldn't take those threats seriously if i pay something meaningful ?
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