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

On Thu, 24 Apr 2008 00:57:54 GMT, "Atheist Chaplain" <abused@[EMAIL PROTECTED]
>
wrote:

>"atec77" <atec77NOSPAM@[EMAIL PROTECTED]
> wrote in message 
>news:fuol98$5vr$1@[EMAIL PROTECTED]
>>
http://www.smh.com.au/news/national/repo-men-called-to-stress-belt/2008/04/22/1208742940230.html
>>
>>
>> http://tinyurl.com/66ujg3
>
>This little bit from the article is interesting
>"Repossessions take place over a couple of months, they don't happen 
>overnight," Mr Mouwad said. "What you've got coming through in the past 
>month or two effectively began six to eight months ago."
>and as he was talking about houses, I wonder if that means that there
will 
>be a drop in housing prices in that area ??
>though from this bit "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." it
would 
>seem unlikely.

It'd be interesting to see how many of these repossessions are because
the owner abused the equity in his home and borrowed it to buy the new
car, new TV, overseas holiday, a share ****tfolio or all of the above
and now has no equity to refinance and get over this hump.




OzOne of the three twins

I welcome you to Crackerbox Palace.
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