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Originally Posted by Darchie
Linuxluver ...
I have been with HM since the latter part of September last year .... i have 9 write offs so far
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4 of those were in the fraud lot so i will exclude those for this example:
So 5 left to consider
NOW..... Of those 5 .... 2 had been rewrites ....... So i think your initial view on re writes may have to mature over time!
I ask you
When looking to invest ... How do you even know if a rewrite has been an early attempt to ease their dire position? ... or
They initially borrowed a low amount ... paid a few payments on time, then go back for a much higher rewrite with no intention of repaying ...
That's how I see it and why I don't generally invest in re-writes. To me re-writes are an indication that the borrower constantly needs to borrow more to fund future repayments. I sometimes make an exception if the original loan was very small or if the purpose was for house renovations which, lets face it, always blow out.
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