Why will restructuring a loan over 4 years …
Comment posted in Cyprus Today – 28/11/2009 by Pauline Read.
Why will restructuring a loan over 4 years be any
different to the original mortgage, it is still secured
on property the Bank knew to be Contracted to and paid for
by someone other than the Builder/Landowner. What guarantees
have they that the the Builder will act more honourably this
time than previously, which is how the debt became so large
in the first place. Where are they miraculously going to
find the cash to pay the monthly capital and interest payments
whilst continuing to fund the build of the residue of the sites.
I suppose they could borrow it!!!!!!!!!!!!! Putting off the evil
day or what?
Recent comments by Pauline Read
- Kulaksiz 5 in North Cyprus – structural integrity of property in question
These go straight through Robin, gives a new meaning
to air conditioning. Still you dont have to look through
the window to see what the weather is like, just look
through the cracks. The logs on the roof holding the
polythene in place is a nice feature too, necessary when
it rains, couldnt find a big enough umbrella. I wonder
if Effes do a really, really big one.
- Homebuyers throughout Cyprus hit by mortgage scandal
Surely. in this case Ken and Mary will have a case against their Advocate for negligence in allowing them
to complete on a property with a mortgage. A search should have revealed this and from reading the article
it was definitely there when they bought, unlike
Kulaksiz 5 and all the other TRNC victims. - Akfinans Bank is an embarassment to the TRNC government
Problem is Thomas, when the gov. collects any tax revenue, it goes to the civil servants pensions which are
way too high, way too early and should have been
taxed from the start.. Can you imagine how good
it could be if we had joined up gov. - Akfinans Bank is an embarassment to the TRNC government
Totally understand David, you have a lot on your plate, but soon Pauline will be calling on you and I know you will respond because you and she are alike in that when asked, you help.
Dont be too hard on other people David, most are scared stiff, I can relate to that.
They are in a situation not of their making and are floundering. Anything I can do to help
you, please let me know. - Akfinans Bank is an embarassment to the TRNC government
Cheeky David,Seriously, they need you on Cyprus 44 things to
organise, things you are good at.
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Pauline Read on
Why will restructuring a loan over 4 years be any
different to the original mortgage, it is still secured
on property the Bank knew to be Contracted to and paid for
by someone other than the Builder/Landowner. What guarantees
have they that the the Builder will act more honourably this
time than previously, which is how the debt became so large
in the first place. Where are they miraculously going to
find the cash to pay the monthly capital and interest payments
whilst continuing to fund the build of the residue of the sites.
I suppose they could borrow it!!!!!!!!!!!!! Putting off the evil
day or what?