12-09-2008, 06:59
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#17
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God Member
Join Date: Jul 2007
Location: Accrington
Posts: 2,539
Liked: 2 times
Rep Power: 900
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Re: Right Or Wrong.
The banks are to blame for repo's, especially in cases where there is what is called a further advance, and if you are ill or die, the insurance isnt upgraded to meet the payments of the advance, also, many lenders wont sell a repo in less than 12 months, this is so that, if the property sells for more than the mortgage, they can charge the whole interest because a payment hasnt been made within 12 months, THAT is morally wrong!
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