[jambutty]

It is unfortunate when someone has their home repossessed but it is unfair to put all the blame on the home owner.

The banks, in particular, and the building societies must shoulder some of the blame in offering mortgages to those who couldn’t really afford them. Anyone who has ever said, “you must get on the property ladder” is also to blame for pressuring young couples into doing so.

What is immoral in this whole debacle is the banks selling off the property for what they can get just as long as it covers the debt on it. Many repossessed homes are sold off by auction and many are sold off for well under market value, but the banks have got their money back so they don’t care.