Sunday 4 December 2016

No sympathy for mortgage defaulters

Published 29/06/2011 | 05:00

What a nerve mortgage defaulters have looking for more help! Their greed and stupid complicity in keeping house prices high barred many others from ever owning a house.

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These same defaulters now march into council houses while many needy people, who have never owned a home, languish on housing lists for years. Being close to homelessness is apparently not good enough for defaulters!

As the banks and house buyers entered into private contracts, resolving defaults should therefore be privately confined to these parties. Why not force the banks to use some of their bailout money to help their poor defaulting victims? I go even further in demanding that banks should repay the taxpayer every cent of these bailouts.

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