Stranger than fictionBy
In case you missed it there was a case this week in New Zealand where a house was “foreclosed” on or repossessed, by chainsawing through the foundations and putting it on the back of a truck!!
In trying to find out more detail I came across a forum that was punding away at the bank for its heartlessness. One apt post said”
“Come on guys, they would have had months of warning. Westpac didn’t wake up yesterday and think; “Who can we **** off today? I know let’s go take that guys house, oh and let’s actually “take” it!”
The whole thing smacks of “more going on than we know”, but it is a timely reminder of the folly of not talking to your bank.
I have had incredible pressure from banks over the last 2 and a bit years and in some cases stopped paying mortgages for some time but always kept the banks fully informed. As a result I am still able to find my houses on their own sections.
Many people think the worst is behind us and that may be true, however there are still lots of people under the gun financially and the temptation is to hide and do nothing. This is almost certainly what happened to the family above and whilst the outcome is more dramatic than normal it was hardly unfair or the banks “fault”.
My personal experience of asking for my private parts back form every bank in the country has been that even the ones who are unreasonable respect the fact you came and saw them and definitely don;t rush you into trouble as long as you keep the channels open. And in fact most institutions will work very hard to assist you.
Often there is no good solution and we have to come to terms with that. I am going to lose my home, my rentals or go bankrupt or whatever. We will want to blame the bank, the cat, our boss, the tv evangelist and the government but generally it is going to be better for us to accept responsibility for getting through it if not causing it.
And whatever you do, talk to your lenders BEFORE you miss a payment if possible. If too late for that get off the computer and ring them now.
What s that I hear?? Sounds like a chainsaw………
Get Going and Stay Safe ~ Dean Letfus