I haven’t got a lot of news really. I have been running around like a headless chicken trying to do all the relevant things to deal with the house repossession, but it has all been a monumental waste of time so far. All those people that say they can help – the Citizen’s Advice Bureau and so on, do absolutely nothing of the sort. They simply waste vast amounts of your time. There is a huge army of job creation experts out there who are paid to do absolutely nothing useful at all. I have met loads of them in recent times.
Specifically, I went to the CAB to try and get legal representation through them. No solicitor wants to take on any legal aid cases because the government only pays them £25 an hour (so I’ve been told) and expects them to spend no more than four hours on a repossession case. As plumbers earn three times that hourly rate, you can see why solicitors aren’t interested.
Anyway, the CAB sanctimoniously go on about how they are going to help you, and they told me they had a pet solicitor who actually did do legally aided work for them.
So I see this solicitor, who makes a swift £100 for a thirty minute interview during which he says he will not represent me in court at all but will only give me ‘legal advice’ which turns out to be a two page letter he obviously sends to everyone telling them just the basics of law a litigant in person might choose to use as they represent themselves in court. What a con !
So he effectively ends up getting his standard fee of £100 per hour by billing the State for four hours at £25, but only needs to see me for half an hour and then just sends a standardised letter and he expects me to be so thick as to believe has been written just to me and the identical letter not sent to several hundred other clients of his too !
Anyway, there was nothing in his ‘legal advice’ which I didn’t know already, so the whole exercise – including me having to travel down to Littlehampton to see him (£12 in petrol alone) was an utter waste of time.
So, I’m off to court tomorrow to ask for the case to be ‘put aside’ and be re-heard to give me more time and I will write a carefully constructed letter to the lender trying to persuade them to give me more time to find an income etc. Unfortunately, that is almost certain to be a waste of time as lenders are completely uninterested in being helpful.
They are rather bizarre because they instantly foreclose on gigantic numbers of mortgages which are only a a handful of months in arrears. This then has a very detrimental effect on their own balance sheets for highly complex reasons of economics, which is precisely the reason there is currently a Worldwide money crisis. It is a self generated, self fulfilling prophecy of financial meltdown wholly engineered by mortgage lenders around the globe.
This may sound incredible, but it is not my fevered imagination working. It is completely true ! I have taken the trouble to learn a bit about economics and how banks actually function and precisely what mechanisms are currently driving the present financial crisis. It is precisely what I have just outlined.
For instance, I only actually owe no more than a couple of thousand pounds at present. But the lender will force me out of the house in a few weeks because they do have that legal right, and that is their standard practice.
However, what will then happen is they will attempt to sell the house. But because of the unusual financial conditions prevailing in this country and all over the rest of the World a the moment, there is no longer any money available for anyone else to obtain a mortgage to buy any property. So they will be unable to sell my house. So the lender has not retrieved his loan to me, I still owe it, the asset covering the loan vanishes and the lender isn’t getting the monthly payment he would be currently getting from me. Everyone loses- particularly the lender.
House prices everywhere are plummeting and will continue to drop because no one can borrow money to buy houses any more. There are already whole streets of empty houses rapidly becoming derelict and therefore completely worthless in America because of just this mechanism.
On the other hand, if the mortgage lender was less spiteful, he wouldn’t be completely wrecking the entire mortgage market for everyone as well as the Global economy too.
In my case, as with many other re-possession cases, if the lender left me in the house he would be paid at least half the mortgage bill by me at present, and by avoiding forcing houses onto the market which cannot sell and will only become increasingly worthless as they stand empty, the lenders would not collectively be destroying the whole World economy as they are are presently doing.
Most householders, like me, would recover their incomes eventually and be able to repay their mortgages and make up the arrears. But no, the banks can’t see further than the ends of their quivering little rodent like noses.
They are greedy, selfish idiots. And now they have been found out, as you will see if you have been reading the newspapers recently.
