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Subject: Re: Times: Homes at risk as banks seek more security for credit card debt Posted on: Mon, 24 Mar 2008 09:46:11 GMT

In message , John Anderton
writes
>On Sat, 22 Mar 2008 15:10:38 +0000, Graham Murray
> wrote:
>
>>
>>Maybe someone needs to remind the banks of the old adage "you cannot
>>have your cake and eat it".
>
>Possibly the customers should be told : "You can't pretend you're
>unable to pay back a loan of £10,000 if you live in a house which
>would put more than £10,000 in your pocket if you sold it"
>
>I wouldn't stand for that if I was owed money, would you ?
>

Then why would you offer unsecured loans if your expectation of
repayment would be from the sale of the property?


--
Mike_B