Re: It's amazing what a little fuel increase can help alaong .Thanks Wayne Swan and C0

atec77 wrote...

>
http://www.smh.com.au/news/national/repo-men-called-to-stress-belt/2008/04/22/1208742940230.html


"Mr Mouwad said more home owners were selling their houses before they
were repossessed, but he said some lenders were refusing to authorise
sales if the price failed to cover the full mortgage."

Isn't this is what mortgage insurance is for, for those who are forced to
take it out as a part of the mortgage application process?

So, the poor ****s, whether they're put in that situation by their own
deeds or otherwise, cannot win. They can't sell the house but are instead
forced out, the mortgagee will flog it and claim on the LMI, leaving the
dispossed with **** all and a ****ed credit rating.

A sad state of affairs and it's only gonna get worse.