When banks stop lending and the poor say no more
Well, as expected my bank wrote back in response to my email with a big fat fuck-off. I have to wait until the end of the court case to determine whether their charges are reasonable or not before I get a penny of my disability benefits back from them.
tags: banking charges, banking executives, banks, capitalism, credit crunch, estate agents, free market, free trade, globalisation, Great Depression, lending, mortgages, poor, recession, self-sufficiency, sub-primeDo they lend with intent to take it all back?
UK sub-prime mortgage lenders who specialise in these mortgages or offer them as part of their business disproportionately make up over 70% of all repossession cases, according to a BBC survey of more than 7,000 court hearings over the past three months carried out jointly by the TV programme Panorama and radio show Five Live Report.
In the US sub-prime loans account for less foreclosures overall–55%. Foreclosures are the equivalent of repossession hearings.
tags: BBC, business, credit, debt, environment, flats, homes, in the news, mortgages, repossession, sub-prime, townhouses
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