Its much harder now. Far from impossible though.

Became much harder after the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

There is a whole new industry helping people walk away from mortgages that are underwater (house worth less than they owe)

Not as easy as handing in your keys.

This really only applies to markets with huge bubbles such as Las Vegas.

Posted By: usacanary on May 18th 2011 at 22:06:03

Message Thread

Non football financial question relating to housing in the UK. (General Chat) - usacanary, May 18, 20:38:51
- One needs a deposit to get a mortgage to be able to buy though. (General Chat) - Graham Br15tol, May 18, 22:08:59
- in USA (General Chat) - dr fanta, May 18, 21:22:09
  - Its much harder now. Far from impossible though. (General Chat) - usacanary, May 18, 22:06:03
    - Huge Bubbles (General Chat) - dr fanta, May 18, 23:20:51
- Renting is cheaper per month (General Chat) - Kangol Canary, May 18, 21:10:24
  - It really depends on the mortgage that you are able to get. (General Chat) - Vivid Data Shark, May 18, 21:34:53
    - based on the rent vs value figures below. (General Chat) - usacanary, May 18, 21:55:26
      - unless you live near a uni and cram it full (n/m) (General Chat) - Jumbo1, May 18, 21:57:25
        
        But then you are geting more than 0.5% per month....... (n/m) (General Chat) - usacanary, May 18, 22:06:53
  - wow, its much cheaper to buy here than rent. (General Chat) - usacanary, May 18, 21:34:31
    - Rough idea here (General Chat) - Kangol Canary, May 18, 21:41:07
      - Thats exactly what I was looking for. (General Chat) - usacanary, May 18, 21:51:19
- I've just bought a house, I move in in July (General Chat) - conker, May 18, 20:59:22
- The UK market is considered to be on the brink of a crash (General Chat) - LowestoftBoy, May 18, 20:45:49
  - Isn't the problem (General Chat) - Steve, May 18, 20:55:04
    - Thats strange? Is nobody building new houses for first time buyers? (General Chat) - usacanary, May 18, 21:12:30
      - It's planning (General Chat) - Kangol Canary, May 18, 21:18:46
      - UK Builders have "Landbanks" (General Chat) - LowestoftBoy, May 18, 21:17:36
        
        Rubbish (General Chat) - Kangol Canary, May 18, 21:22:00
        
        Did you title this "rubbish" because you knew what you were about to write? (n/m) (General Chat) - grumpy, May 19, 00:08:30
        
        maybe, but (General Chat) - LowestoftBoy, May 18, 21:27:12
        
        I didn't say they didn't have land (General Chat) - Kangol Canary, May 18, 21:30:02
        
        you're shitting me (General Chat) - Worzel Scrimmage, May 18, 21:19:32
      - The US is cheaper than many parts of the world (General Chat) - Worzel Scrimmage, May 18, 21:17:16
      - it`s the banks not lending money to first time buyers (General Chat) - emmaroyds, May 18, 21:14:56
        
        Yep , its getting much tougher in the US. No that tough though. (General Chat) - usacanary, May 18, 21:42:03
    - renting considered the better short term option (General Chat) - LowestoftBoy, May 18, 21:04:03
      - My "affordable" rent is ?600pcm (General Chat) - Steve, May 18, 21:15:10
        
        I'm in Royston - paying ?475pcm for a room in a house (General Chat) - Karnivore, May 18, 21:25:05
        
        60k! Ridiculous! (n/m) (General Chat) - Dr5ub1in, May 18, 21:17:29
        
        exactly - couldn't afford the pay cut (General Chat) - Jumbo1, May 18, 21:18:19

Reply to Message

In order to add a post to the WotB Message Board you must be a registered WotB user.

If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.