"Paul Burridge" wrote
OK, good - a sign of someone who has realised that they are wrong, especially when they say something that they cannot backup with any evidence or even anecdote, and don't defend when queried.
Glad to see you've (indirectly) admitted you were wrong!
Whatever. You people keep kidding yourselves if you like; it won't get you anywhere.
No, you were wrong. Now answer either my 'flippant' example of paraphrasing/translation, or my 'flippant' example of different roles.
Better to remain silent and be thought stupid, than to speak out and prove it. Bit late for you, though.
You are both.
Your words: "It is *they* who will ultimately decide when that boundary has been crossed." Tacit approval of Equifax setting themselves up as judge jury & executioner.
Translation: I've got my fingers in my ears! Lalalalalalalala, I can't hear you.
That's debatable.
Good riddance to bad rubbish.
If I were the cops I'd go for comparing the sined form to the bank with their tax declaration. If there's a mismatch then either they're obtained cash by deception or they've defrauded the taxman.
Got 'em bang to rights either way.
FoFP
Not at all: they've gained a property by outbidding those who are eing honest about their incomes by means of obtaining money by deception in order to outbid them. There is clearly a harm done to such people. Also, inasmuch as they're going eyond wha the bank has declared as a reasonable ris, they're putting at risk other savers' money. It's not a victimless crime even should they succeed in making every mortgage payment any more than is a drunk driver safely making it home.
Arrest 'em all.
FoFP
"M Holmes" wrote
... *or* they have a chunk of **tax-free** income!! No law against that...
"M Holmes" wrote
Oh dear - are you implying that getting (legally) tax-free income should be banned??
Well maybe the others can snap it up cheap when it is reposessed?
There is no real risk, the banks makes a killing whatever happens. After all who knows their future prospects best the bank or the individual. Many people may have a high income but know they face redundancy. The are a risk but the banks will lend to them.
Nope. It's precisely this sort of thing that led to the collapse of the Japanese banking sector some years ago. "There's no such thing as a free lunch in the City"
I don't agree, Jap mortages were sometimes longer than a lifetime. Its was a different situation to do with overvalued stocks etc....
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