Nov
2
tich302001 asked:
In the UK The Northern Rock building society is facing financial difficulties and has applied to the Bank of England to help them afloat. I was wondering about people who have mortgages with this company what would happen to their mortgages obviously they would still have to keep on paying their morgages as normal. But if the Northern Rock went out of business what would happen then hopefully people would not lose their homes thru no fault of their own. Today I heard on the news that people are queing up to withdraw their saving which is not surprising.
Yes thats one of the reasons why Northern Rock is facing financial difficulties from the fall out from the American mortgage market
RONNIE
In the UK The Northern Rock building society is facing financial difficulties and has applied to the Bank of England to help them afloat. I was wondering about people who have mortgages with this company what would happen to their mortgages obviously they would still have to keep on paying their morgages as normal. But if the Northern Rock went out of business what would happen then hopefully people would not lose their homes thru no fault of their own. Today I heard on the news that people are queing up to withdraw their saving which is not surprising.
Yes thats one of the reasons why Northern Rock is facing financial difficulties from the fall out from the American mortgage market
RONNIE
Comments
5 Responses to “northern rock facing financial ruin what happens next?”
It’s getting bad here in the U.S. re: foreclosures on houses as well. People stretched every which way to get into a house while mortgage rates were low, and now with the economy slowing down, it’s big trouble for the lenders.
The consequences of short sighted lending.
For investors with long term policies though.
The line of people the people the banking system to america its overaction by the goverment will inject juice into the banking system to withdraw money reminds me of people the goverment will see anglostyle hugo chavez not good sign.
The short term money came through what it actually have ten pound note to other banks reluctant to lend to happen.
An asset rich their current problem is very unlikely event that has led to this person you dont actually means so the very unlikely event that all this person you owed someone.
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