Originally Posted by
Fired600
White Knight
I agree people should try and sort out their debts in an amicable way with the banks.
People ‘shouldn’t’ over extend themselves of course, but who takes a mortgage of however much if the have the money to pay for the property? If that were the case then no one under the age of 50 would buy a house and then what a fix the banking industry would be in.
The problem comes when people through little fault of their own have a large negative equity debt in their property and find themselves in UAE and stuck....then what do they do ?
Given the fact that you are (were) provided with nice or sometimes very nice accommodation all payed for including utilities, could you please explain to me what would make anyone opt out of this and take on a mortgage in one of the most unstable regions of the world?