Mortgage Defaults

[threegee]

In an earlier thread we were discussing people getting kicked out of their homes, and I pointed out that some point the system can't cope and will break down. People will see other homeowners in the street defaulting and getting away with it, and be tempted to do likewise. The reality is that the system can only deal with a tiny percentge of defaults.

It's a long slippery slope, but the signs are here already:

Earlier this week the government issued guidance to judges in an attempt to ease repossession rates.

Source: http://news.bbc.co.uk/1/hi/programmes/moneybox/7690098.stm

Is that government interference with the judiciary? Well, of course not! Like Mr Brown's "advice" to the wholly independent BoE M.P.C. to lower interest rates, it's simply an indication that your job/peerage might be at risk! Isn't the UK a wonderfully democratic country?