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Scary sign of the times

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Brazen
Super Contributor
Just phoned Nedbank Home loans and first option on the voice mail is "press one for Properties in Possesion." Checked website and big link to PIPs. When I first checked PIPS about 2 years ago it took me 10 minutes to find the bloody link and there were 3 properties listed. Not 3 pages, 3 properties! Today, 20 pages.
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14 REPLIES 14
Not applicable
I believe they are now actually getting "jingle letters"....and they said I was a lunatic when I first mentioned the banking index head and shoulders....Brazen u wanting to list your home on that list or what...
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dookie
Regular Contributor
What are jingle letters?
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Brazen
Super Contributor
You are a lunatic, but it's nothing to do with the head and shoulders. And nah, not listing, just wanted to find out why my payments haven't gone down with the cut. Apparantly I told them to keep payments the same during cuts and pay off the capital. Have no recollection of this, must have been drunk.
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_nova
Super Contributor
'jingle letter' is what a lot of Yanks and Brits are doing, and now more and more Siffricans. You take them house keys, drop em in a letter, put the bank manager's name on it and drop it off with reception at your friendly local branch... and walk away. Hey Brazen? What you telling me that the 'green' bank is now actually publishing their PIP on the web? Now that's a noteworthy revelation of the state of homeloans! Let me tell you that I had s*****ped the Ned's off my regular checklist some three years back because it was so difficult to get any PIP info from them. And when they finally put it on their web site, yes you're right, you had to be a cryptanalyst just to find the link, and then the list was quite useless with almost no info. I gotta go see this!
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Amar
Contributor
A quick google search will also get you the pips of std, absa and fnb as well....this def wasn't the case a year or 2 ago...
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Brazen
Super Contributor
Yip, check out the home loans page on their website. PIPs large as life and 20 pages long.
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Brazen
Super Contributor
Even more telling is the voicemail - before they've even said good morning they're telling you to press 0ne for PIPs. Used to be press One for home loans. . .
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_nova
Super Contributor
As I live and breathe! Nedbank actually post the PIP right there on their Home Loans home page. Never thought I'd see the day! And it now actually has proper references and addresses nogal. I must say, that SBK have always been pretty dilligent with their PIPs and have always provided it without hassle.
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_nova
Super Contributor
PIP lists are amazingly useful barometers of the state of the different consumer segments. What you can see from the Nedbank list alone is that almost all of the properties are either in the lower to middle insome segment with a sprinkling of holiday properties. The upper middle class and private banking crowd are not yet feeling the pinch...
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Brazen
Super Contributor
True Nova. I looked in my area, one in Plett (low priced flat), and none in Knysna or Sedgefield.
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Not applicable
yeah Nona is quite right re the jingle letters...if your debt is more than your equity a jingle letter becomes attractive esp if you had a bad credit rating before u even bought the house ...now u care less...the bank can have the hassle of maintaining and paying the rates on a depreciating asset...
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dookie
Regular Contributor
LOL. That's so wicked.
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john_1
Super Contributor
A liitle flat in plet might be fun, how many bedrooms? Good Area?
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Brazen
Super Contributor
Unit 26 Keurbooms River Lodge. 2 bedrooms and 880K. No idea what it's like.
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