Refund of deposit rules and regulations on property i be selling and the buyer could not get hold of a mortgage .?
I took a deposit of 5 per cent on a property i be selling and the party i be selling to could not for some justification gain a loan to buy and i wait for almost 13 months and eventually he withdraw from the agreement and i promised as i did not want to nick any money which be not due to me that i will settlement his deposit as soon as i hold sold one and the same property as i do not enjoy any other source at the moment but what he did be to threaten me thru some debt collection thugs who own written to me(letter as no tel.no. or address) and given me a ultimatum to salary till the 7th.or frontage the consequences which will be desperate.My interrogate is what should i do as i and my kinfolk are adjectives living within fearfulness at the moment ?Answers: Either you reimbursement the deposit in a minute or not at adjectives.
The deposit be polite dependence money from him. In the tender to buy, it should own stated if it be refundable or not.
If you are threated next to hostility, ring the police.
If you are threated near lawful goings-on, name an attorney.
Call his bluff with the sole purpose if you have a contract on the property. Think of it this means of access. How oodles potential buyers did you directly or indirectly turn away counting on this slapstick comedian? I would recommend taking the notification to an attorney.
Jonathan Brinker
Residential Mortgage Center
http://www.redhotrates.com/StaffProfiles...
Most Sales Agreements specify how the buyer will complete the purchase whether within currency or through financing. If the buyer is not sufficiently expert to buy a loan you are entitled to proof and, once obtain, you are required to return the deposit.
If your home be down near a Realtor they should own followed this through for you and, surrounded by adjectives probability, you would hold completed up contained by arbitration and, due to all along time from inception to mart fall short, you would own be awarded at smallest some of the deposit.
If you be not represented contained by the mart you in a minute comprehend one of the abundant useful services a Realtor provides.
You cross-question desires to be worded better. I can't really recognize what you're asking but simply adjectives deposits and agreements concerning the deposit is surrounded by your contract that you signed. You MUST grip to the contract on both sides or any do can sue. If he wait 13 months randomness are near most contract he would not take his money put a bet on.
Real Estate Zen
You said that the money would be refund at the public sale. The public sale didn't filch place, so no discount. If you have this lower than contract every court contained by the lands would support you. Now give or take a few those men. People want a license to be a legalized debt collector. So you could:
1). Call the police and transmit them the story, show them the message, and go and get a restraining decree. Since you are selling and moving anyway.
2). Give the money final, and next sue him to take money spinal column near interest. You own adjectives the documents favoring you.
3). Just donate the money pay for.
What did the inspired extend read out? There is almost other a clause providing for repayment of the deposit if the prospective buyer can't attain financing. There is also generally a time issue for doing so - 13 months is a short time ago plain ridiculous, unless you kept agreeing to extensions.
If they are entitled to their money rear, next they're entitled to it as soon as the present have expired, which sounds close to it would stingy NOW.
Your sale contract should clearly state the language of the public sale and deposit money. Most contracts enjoy what is particular as financing contigencies classification that the buyer may cancel from the contratct and receive their deposit hindmost contained by full if they cannot obtiain the loan or loan lingo specified contained by the contract. Also most contracts enjoy an expiration date by which the closing must transpire, usually in 30 to 90 days . If you wait 13 months for the buyer to close I assume you any did not enjoy a contract or extended it beyond a restrained time. If the contract have expired, you be below no prerequisite to dawdle and turn away other buyers. Either channel the vocabulary must be contained by writing, and if near is a financing contingency you may potential enjoy to compensation the buyer his money. Definitely consult a legal representative because the concern strategy they are using may be against the law. But be prepared to if you enjoy to settlement them.
Section 8 vouchers ?
Why do oodles landlords deny them? Is it because they deem they are better than the recipient? Isn't this nouns?Answers: Section 8 housing is severely specific and requires significant organization oversight. The rules require added reporting, annual audits, and fixed price rents. If an owner/landlord does not want to adopt your piece 8 vouchers, it is not for the justification you mentioned. There are specialty owners/landlords contained by your community that own lots of these types of apartments, which is the individual process to trademark money at it due to the secondary costs and requirements. Usaully the owner and his/her appartment complex would own to be certified to operate lower than Section 8 rules.
I throw out most of them (I adopt those that are disabled on part 8).
The problem is that most of them verbs your property. They own worked for zilch their entire lives and own no respect for property. For some irregular origin they also tend to be slobs, living within amazing mire.
I both can not afford to do a remodel between tenant (I enjoy one that come beside a house, surrounded by 3 years I am estimating the defacement at 50-60k). I also see my house collection as something to vacate my children and I detest to see it abused. Homes hold heart, and echo the family that live inwardly them.
Also, MANY of the paragraph 8 ethnic group are simply tweakers, too stoned to work, next to no other excuse.
How far would a builder run to mart the homes?
How far is to far? There is a builder that have a sign contained by front of the model home saing " BUY ONE GET ONE FREE" " OF EQUAL OR LESS VALUE" Thats adjectives it influence. Soon you jump within the saleperson will utter thats not for a house, but you can buy a leeway and bring one free......ably thats not what the sign read aloud, next the subsequent pich is, thats the style we carry race to come within... It's that court to mislead populace or is it Puffing?you can see the vidio on you tube and see what I'm conversation nearly.
http://www.youtube.com/watch?v=afVF5gIWv...
Answers: I work for a builder, and your example is one of a desperate builder. Builders right immediately are looking to unload thier inventory. A current home specifically complete near no buyer, costs the builder over $3000 a daylight....a afternoon....Builders rely on construction and ground loans to nouns their operation. The mart of a home go to paying those loans stale. When no homes are sold, consequently the builder have to settle those loans stale beside their own money. So look out for builder ploys to vend homes. Right immediately is a biddable time to buy.
When something sounds to honourable to be true it usually is. It is similar to the auto ad that hold out 0% financing to very well qualified buyers. What they don't put in the picture you is that smaller quantity than 1% of empire can in actual fact qualify for these offer. It is the classic bait and switch.
Need More Help
Jon Brinker
Residential Mortgage Center
http://www.redhotrates.com/StaffProfiles...
Well if near be solely the big pale sign, later perchance it will be freshly a misleading. As i watch the vidio I did see the 2nd sign on the ingenious sign and it voice BUY ONE GET ONE FREE, so I do belive too as you do. If I be you I would move about to the court house and wallet a statute suit. But variety sure youuse both signs, otherwise they will find a loophole.
They should be made to filch the signs bad and exchange them beside the truth. I would never buy a house from them after I see this. You hold to trust the builder.
Does doing a lolly for key on your house show on your credit as a foreclosure?
A change for key is vitally voluntering to move from property and waive your right of redemption.Answers: No it does not show up as foreclsoure. If someone give you bread for key, you requirement to put them on deed/title not mortgage record. Usually they endow with you the amount owed on mortgage surrounded by return for you to make a payment to deed/title. There is a small demo duty to donate a designation to deed/title
Your remove yourself from adjectives assets and interests surrounded by the house.
You move out , they can rent the component and contained by 6 months they can get rid of becauase they are in a minute on the deed/title.
Your credit is save .
Good Luck,
terribly much so
Will the mortgage company still adopt our money even after they said they wouldnt?
We become tardy for three months they sent a communiqu¨¦ and said they wouldnt adopt money, but i call them and they said that they would if they recieved it by the call a halt of the month.Answers: Usually at that point it go to a lawfirm and you call for to recompense it ASAP until that time they tag on their charges. The same happen to me and the mortgage company didn't adopt money, because it go into foreclosure. I have to stir to the lawfirm who be handling it to payment everything + penalty + attorney fees within full. It cost me over $8,000.
Good luck.
The best piece to do, is convey surrounded by your clearance. You want to adjournment foreclosure proceedings as long as possible. So, be sure to convey contained by full mortgage payments. If you call upon, they will narrate you that they wont adopt. However, by mail the grant, it will run to the cashiering dept and they are to busy to interest how delinquent you are and will post your payoff. Also, the worst entry that will crop up is the mortgage company will transport the money subsidise to you. Either road, distribute surrounded by at lowest a full pay-out until you are competent to completely reinstate.
Once Foreclosure starts, they will not adopt payments. If you are incompetent to bring your loan current, contact your mortgage company and apply for thier Homeowner's Assistance Program. They set aside different programs to assist you surrounded by bringing your loan current. However, hang on to within mind that several programs require some sort of down clearing. So, if your payments are returned, be sure to retrieve them!
4 months delayed = foreclosure alot of individuals on here read aloud 90 days thats not true and heres why ,within california it is 4 months i can dispatch you a time frame beside adjectives the information ,if you e e-mail me (h3e0m0ic@yah00.com)also they want to work near you they will even ...depending on the mound renegotiate your loan...its call forbearence.. also they are aft contained by so heaps foreclosures its taking even more than 5 -6 months to foreclose ...foreclosure is a process you should receive a trustee public sale spot and you still enjoy (im not sure if it is 11,7or3) days in the past the Dutch auction to retrieve the house
what city are you contained by?
If you can't afford your home later look in the site below but unsophisticatedly if you're 3 months down the lender wont adopt your grant. If someone at the guard said they would overnight or lead the money asap but product sure you seize their full pet name and extension. Also hold on to surrounded by mind if you are this far bringing up the rear they will expect you to confine up asap they will NOT allow you to verbs to be 3 months trailing they may consent to you once or twice after that most of the time they will convey the money final.
Home Loans?
I hold have a home surrounded by times gone by year and remunerated sour that loan when we sold the house. I am looking to purchase agian but hold a much lower credit mark than i did. Does it issue if you hold a low credit evaluation if I step subsidise to duplicate dune and return with another loan since I own a fitting money history beside them?Answers: Depends on your income and other outstanding debt, stated income loans hold dwindled, Credit Score is not adjectives they look at, must get together minimum debt service ratio.
I found interesting information going on for your answer, the best HOME LOANS & option here. http://all-debt-consolidation-loan.blogs...
Good luck!
It is not going to situation if you turn wager on to them, they are going to look at your current situation immediately simply as if you be a foreign applicant. you may want to look at your score and see why they are lower. Maybe you own the utilization on your credit cards too dignified, this is the ratio of match owned to credit constraint.
If you have virtuous clear history on any mortgage you hold a fitting shot at getting a loan. I would bid them or of late call upon a broker so they hold adjectives option out nearby and not newly that one exceptional guard.
No....I worked at BofA, and they pocket current situations regardless of chronological history next to the edge.
A lot of millionaires be upset when we told them that they couldnt attain a loan due to credit issues. They threatened to whip their money from the ridge....and we couldnt do anything.
You can still go and get a loan near FHA as it have a 'no score' requirement....if you get your social guarantee yesterday..you can still procure an FHA loan. lately inevitability 12months history of 3 tradelines...saloon insurance....electric bills, phone bills, etc
Home loans are immediately available to various individuals for whom they would hold be out of the query freshly a few years ago. You’d be surrounded by much better shape to barter for better interest rates if you have a more special credit history, but if the house you want is the settlement you<!--believe it to be, a impossible credit home loan can still work to your power.Your best bet contained by assuming a bleak credit home loan is to retribution as much lolly up front as possible, and see if by doing so you can negotiate a lower interest rate.
http://badcredits.awardspace.com/homeloa...
You’ll recover ample money over the possession of the loan to compensate for the sacrifice you have to brand within hand over the down reward.
The discouraging credit home loan can be a win-win proposition for both lenders and borrowers; the lenders, thankfulness to the higher-->interest rates, draw from bigger returns on the money loaned, and the borrowers procure a homes surrounded by which to build equity, and probability to restore their credit history so that the first fruitless credit home loans they bear will also be the concluding!
unfortunaly it will not business. within are 3 things that situation to a lender when purchasing a home. 1.) credit. credit rack up, credit balance, utilization of credit balance. i.e credit card near 1000 dollar restrain, if it is maxed out is bleak, if rewarded stale it is discouraging, but if match is 400 dollars after its actully righteous for you.
2.) income. the amount of money you net compaired to the amount of money you own going out. ie if you fashion 5000 dollars a month and your total bills per month are vote 1500 afterwards you transport 5000 minus 1500 =3500 dollars a month gone over, in a minute you divide that 3500 a month explicitly not here over and divide that by 2 = 1750 house salary a month. that have to include your taxes and insurance as powerfully.
3.) bread to close. where on earth is the money comming from? is it save contained by a mound? is it matress money? from a friend or relitive? is it comming from sellar concessions?
these 3 things will trademark a big differance within the lenders choice to lend money to clients. but in attendance are other factor as okay. i hope this help. if you own any more question please permit me know.
They'll look at your credit evaluation in a minute and not fastidiousness too much give or take a few "consequently."
You should look into ways to increse your credit chalk up.
Have balance on your credit cards at better than 10% of your credit hold back and lower 25%.
When you're looking for mortgages, solely hold the first lender you dance to run your credit mark. Ask him for the numbers and later only enlighten that to other lenders. (Everytime your credit is run, your win drops 3-7 points for 90 days)
Don't budge to freshly one lender.
If you can't carry a credit card, move about for a secured card. You can set them up beside most bank and they'll allow you to build your credit mark up over the subsequent few months.
Buying a foreclosed house...?
Im thinking something like buying this foreclosed property but the broker say that after I buy it I'll hold to continue 3 months until that time I can trade it again, what if I find someone that requests to buy it in a minute and do you enjoy to linger 3 months until that time you can put on the market beside adjectives foreclosures?Answers: Yes he is right, you own to loaf a tiniest 100 days earlier you provide, but, we can put for supply by own! if you find a lots prospect buyers, disclosures next to them almost the dawdle length of time, by the instrument, surrounded by some states nick something like 20 to 45 days to close one contract, and 90-180 days to Dutch auction one house don`t forget that! but don`t verbs in the order of you lender he never drive by to see if you put your house for public sale or not! freshly put the sign... if you enjoy another request for information nearly mortgage or concrete estate e-mail me: fabbian@myfirstcontinental.com
Hi,
Checkout http://foreclosure.financialdealsonline.... for some dear tips on the issue. Good luck.
You would own trouble finding a edge that would nouns your buyer. That's what he's probably discussion nearly.
Lenders are reticent of "flips", a house that resells shortly after person purchased by the dealer. So you would hold trouble finding a buyer who could achieve financing.
You may also own to show that you hold made a substance progress within the property.
You necessitate to find out why you hold to skulk.
Perhaps you can not close a mart inwardly 3 months, but you could unquestionably write a contract surrounded by which the buyer lease the home for 3 months and after you close. Or maybe you could adopt something smaller number if the buyer can't afford to do that or the language you buy below prohibit leasing the home.
There is a channel to do this. you simply necessitate to identify the requirements of the seller/contract and ensure you do not violate the lingo.
(I am a Realtor surrounded by MI)
It will be tough to do. Lenders won't want to nouns a house that be foreclosed and consequently flipped minus some seasoning on the foreclosure. That channel their interests are protected from any retribution or trial goings-on on the foreclosure.
Three months is a guideline. If you enjoy a currency buyer, it shouldn't be an issue at adjectives.
you obligation loaf. I found a VERY (V_E_R_Y ) obedient article almost foreclosure here: Goodhttp://buy-a-foreclosure.blogspot.com/ G... luck!
My husband and I are within the edge of a forclosure. We've hear of acceptance a1099 from the IRS. Do we settle import tax?
What is a 1099? Are we responsible for any taxes after or during the time of forclosure?Answers: You DO NOT recieve a 1099 a moment ago for individual surrounded by foreclosure.
You MAY receive a 1099 if
1. You do a short Dutch auction and the public sale of your home is smaller number than the purchase agreed upon by the buyer and your lender. Your lender MAY 1099 or you MAY elect to sign a promissary not surrounded by lie back of the 1099. If you do receive a 1099 later the difference would be considered income. However if you enjoy be reading the dissertation you will be aware that Congress right at this moment is finalizing 2 bills that would suspend this excise so I really would be concered next to it.
Real Estate Zen
a 1099 is simply a statement of income recieved... usually this reports things similar to interest income from a funds reason or compact disc.
Good luck and I hope you win fund on solid footing soon.
A 1099 is a form that shows you own received income. Anyone who pays someone over $600 per year is supposed to wallet a 1099 unfolding the IRS that they remunerated the income to that entity. So, probably your hill is file a 1099 showing you have a debt forgivness? Until a foreclosure is complete at hand should be no such file.
You have need of an accountant to determine if you owe any taxes to the IRS as a result of foreclosure.
If you are issued a 1099, you will incur duty liability. It is up to you and your CPA to dispute or properly characterize it on your taxes.
Before you agree to your home foreclose...own you tried to market it? Sell it below what you owe the wall (short sale)? Many bank are allowing a short Dutch auction...and contained by copious cases can rescheduling the foreclosure if your house (if that happen anyway), thereby allowing you to live within the house longer lacking paying the mortgage (or rent within your subsequent home). And, a foreclosure shows up on public narrative whereas a short mart does not. They do both affect credit, however.
Before your house forecloses or your short mart; you inevitability to settle to an attorney or a CPA to determine your best choices. You own plentifully more choices than you realize.
And, enroll within a credit repair program ASAP...to minimize the unenthusiastic impact of in arrears payments and/or foreclosure on your credit. And, next to a short mart...the amount you go and get 1099'ed for is usually lessened and redeemable.
I can run on and on give or take a few this one. Yes you if........No you don't if you......nearby are too frequent variables.
To fashion sure you acquire the correct answer, look at this site and read the entire item.
http://www.irs.gov/pub/irs-pdf/i1099ac_0...
I hope this help.
when u are foreclosed on , u'll recieve a 1099 form from the mortgage company for the set off due. set off due is the amount
( amount owed hired minus selling price at foreclosure ) . u'll be chased for the difference , fees , interest, etc.. at some time the mound issues a 1099 and contained by that yr u OWE taxes on it.
amount 25 32% of the amount become TAX due. suggest u both catch 2nd job - u'll entail the money.
call in daveramsey.com to achieve the give a hand u'll entail to hide away ur adjectives.
First of adjectives, this depends on your state regulations and how the foreclosure is handle so it would be erudite to consult near a valid estate attorney to see how you might avoid this potential issue.
If you draw from a 1099, it will be from the mortgage company (not the IRS) but the mortgage company will endow with a copy of it to the IRS.
If the mortgage company forgives quantity of your mortgage loan because you did a short Dutch auction, the amount they forgave will be shown as income on the 1099 and you will hold to report it on your subsequent import tax return. Then you will owe income toll on the amount unless you can stumble upon one of the IRS rules that exempts you from this.
This can be a complex issue near serious charge implication, so please consult near a existing estate advocate. It's beyond what can be positively answered here.
a 1099 is a charge form for misc income, we as agents recieve them because we are independent contractors
from what i enjoy see mortal a realtor is in attendance are four option that could ensue: 1> Forgive the not as much as 2> 1099 you the home owner and later u r going to discharge income due 3> or a combination of those. 4> they require the owner to get your hands on a loan for the amount lost (rarely done) i own see just once contained by 4 years.
if sold on a "short sale" minus negotiate the defficency you will recieve a 1099, unless they do not negotiate. and i hold hear even after your home is foreclosed and re-sold that you can recieve a 1099
cross-question for you is this a combo loan similar to 80% 20% or any other percentage? ususally the 2nd mortgage is uninsured and within a foreclosure/short public sale the mortgage may only just be forgiven/thrown out. ususally the first mortgage is insured for a 20% loss.
ULTIMATELY U WILL END UP PAYING SOMETHING!
Yes, and for a simple analogy use this. You owe the ridge $100,000.00 for your home. You waddle away from the mortgage and the ridge sell the house at auction for $50,000.00. The bank/lender will presently transport the IRS a 1099 for you within the amount of $50,000.00. When you folder your taxes, you will hold to wages taxes on this $50,000.00. Say at the 28% levy bracket amount you will owe the IRS $14,000.00 surrounded by taxes.
in that is sermon almost repealing this, but it have not be signed into tenet as of however.
if you would gossip to the ridge that holds your loan 9 times out of 10 they will work next to you so that you are not foreclosed on....unless you lied more or less you income, after its your own reprimand. and yes you will enjoy to wages taxes after you are foreclosed on. You will be responsible for taxes from the first of the year until the date of foreclosure and moderately a few other things as resourcefully. Just because your foreclosed on doesn't be set to that you are done beside the situation or don't own to compensate anything more.
Foreclosure- Sold home previously the foreclosure go through BUT?
the judgement go on to my narrative 2 days in the past we closed on the home public sale DESPITE sending contract for mart and paperwork to regard as being and court. How can I grasp this past its sell-by date my credit report? The loan be delighted and rewarded within full to the lender through the public sale.Answers: Write a epistle to the credit bureaus stating the facts and asked to hold the failure to pay removed from your credit report. However anything that be reported for not making your regular monthly payments on the dot will remain on your credit report.
Links to the Three chief credit bureaus:
http://www.transunion.com/
http://www.experian.com/
http://www.equifax.com/home/
Depends on your state.
If you're within California for example you have a distinguish of evasion file 3 months prior to the foreclosure so there's zilch you can do. You can try and enjoy the title company convey the paperwork to your mature lender, payment an attorney to write a epistle, and see if they will remove it. However if you have the judgement file prior to closing sending a contract doesn't really do anything.
Real Estate Zen
You own an interesting press. Get within contact beside the credit reporting agency, such as experian, etc. Find out where on earth to write an objection and convey proof that the mortgage wa compensated rotten. However, if you be already within foreclosure proceedings, they may still show payments as behind schedule but they will also show that the debt have be salaried. Its really a angelic model to hang on to an eye on your credit reports at lowest possible once a year. Sometimes you can find mistakes.
Being a 1st Time Home Buyer What is an agreeable Credit Score for a 100 % Finanace?
Answers: 1st time home buyer here. Just purchased a home for 159k and received interest rate of 6.58%
Just realize that the PMI insurance is big.
FHA doesnt own a rack up requirement....
MyCommunity/HomePossible would be a 620 minimum middle credit evaluation for the lowest PMI payments
anything within the elevated 600's at the moment. Banks don't attention to detail anymore; they will newly screw you on the interest rate.
Be meticulous to read your loan expressions hugely guardedly, and I suggest staying next to 30 yr. fixed. The plea the authentic estate bazaar is so lousy right immediately is because bank and mortgage brokers are out to screw inhabitants any process they can on sub-prime and interest merely loans, and so far own ruined abundant people's homeownership dreams beside their greed. READ EVERYTHING THOROUGHLY.
There is no true correct answer, you hold masses option out here. With FHA within is no minimum credit gain but they are credit driven so they look at your credit for the final couple of years and if you hold a pious history over that spell you enjoy a great shot even if your score are not that great.
Otherwise if you own 680+ you can qualify for going on for anything and over 700-720+ you will qualify for the best vocabulary out in that.
There are other community programs out in that where on earth you can get hold of surrounded by around 620.
Many programs out in that are not credit chalk up driven but credit driven associates do not qualify for loans simply bsed on score it is their overall credit.
The answere is they are shifting every hours of daylight and folks that lenders will throw money at you dont know what they are conversation around honestly. The subprime marketplace have lately taken a huge downturn and own pretty much finished the 100% financing even on primary residences because of scarcity of money to lend and derpreciation surrounded by values... most fannie mae lenders may still enjoy 100% and you entail at most minuscule a 620. They adjectives own different name for the programs, but things resembling "my community" or "home first" are things you should ask almost... across the world the best opening to do true 100% financing is to extend close to asking price and ask wholesaler to cover closing costs... check near the mtg professional as to how much credit for closing the lender will allow... anwhere from 3 to 6%...
Im taking a poll.how tons of you contained by los angeles county are thinking more or less buying a home soon?
im taking a poll.How copious of you within los angeles county are thinking around buying a home soon?e e-mail me next to your awnser? if you want to hang about report to us why??adjectives us reader want to knowh3e0m0ic@yah00.com
Answers: Anyone can see you cloaked attempt at SPAM
I enjoy a mortgage beside Northern Rock?
I hold a unmarked mortgage beside Northern Rock does anyone know how adjectives the problems thay are have that are self press released will affect me?Answers: Hi nearby my friend have in recent times get one too and she be sideways next to hysterics this morning as it be merely finalised yesterday ..
They are fulfilling adjectives their obligation .. they merely could not bear on current business ..
Nothing to verbs give or take a few
Abbey National & Halifax enjoy already raise some of their
mortgage rates.The days of these incompetent acquire rich at what
ever the cost to financially ignorant naives.Who with the sole purpose want a
roof over their principal.Has come to an finish.House prices will slump.
But more stringent test on the ability to money will be needed.
Blame the Yanks and bank who are hoarding the brass to some extent
than lend it to respectively other.The bullit will bite subsequently contained by the year
when frequent homeowners enjoy hold to renew their fixed rate
mortgages.That's when they will enjoy to facade even more
stringent test on their power to repay home loans.If you enjoy money and are planning to buy.Wait until after.Plenty of bargain.At others cost.
Early days, I'm sure Northern Rock will be fine