Another interesting newspaper articlegreenspun.com : LUSENET : Repossession : One Thread
Did anyone else see this in todays papers? 'A couple won a court victory yesterday against a Building Society boss who bought their home after it was repossessed by his own company...' Basically, the assistant branch manager of (surprise, surprise) the Halifax bought the house, illegally, in the name of a relative, at (I quote)'approx £20,000 below its true worth'.After an eight year fight, the original owners have won undisclosed compensation from Halifax, and the property will go on the market again, with any excess monies being repaid to the original owners. One in the eye for the lenders - nice to see the type of senior management they like to employ!!!
-- (email@example.com), October 18, 2001
Which paper was this? I also have evidence where a prospective purchaser was asked to complete the deal before the month end so the BS manager's figures would "reach his quarterly target ".....read as sold quickly/cheaply (delete as appropriate)or what? .... I rest my case m'lud...(read as yes, it happens all the time)
-- (NOMORTGAGEDEEDSfirstname.lastname@example.org), October 18, 2001.
Yesterdays Daily Mail
-- (email@example.com), October 19, 2001.