Trying to sell my house

Tonsass wrote: »

Hi we are thinking of selling our home and wanted to know if housees are selling at the moment? also would the bank take an offer of the outstanding mortgage as in we owe 200k and say we get offered 150k would they settle

Thanks

I don't think so, we are in a similar position and put a number of different proposals to our mortgage provider. They were in no way interested. They simply wanted what was outstanding or no deal.

Tonsass wrote: »

and are u any other arragnment with the bank? just that we haven't paid a penny in over a year towards the mortgage and not even letter from them or anything...just doesnt seem right

Then you really should contact the bank as when the letter/phone call does come through about them looking for the missed payments you'll regret leaving it for so long.

Tonsass wrote: »

and are u any other arragnment with the bank? just that we haven't paid a penny in over a year towards the mortgage and not even letter from them or anything...just doesnt seem right

Any reason why you have decided not to pay anything towards your debt? Seems incredible that you haven't even paid a penny. Sounds like you are aiming for a strategic default. Shame on you.

Tonsass wrote: »

that is not what we are aiming for that but this is not the case i have rang up lots of times gone to meetings and came out of one early last year and your man near enough told me and husband nothing they would do but would send details to Dublin for the highers to look over but not to hold our breath.......came out of there hopeless....at the moment he is on JS soon to change to the dole and i am working FT(temp) but its nearly costs me to go to work over travelling 18 miles andonly 1 car husband does the round trip and with having 2 young kids in school at the end of the week we may be left with 50 after paying loans that we have cut to 10 euro a week and the normal living expenses.....thats the reason its not been paid i would love to be able to make some payment as the stress is just horrible

Let me guess, it was the banks fault for lending you all that money? :rolleyes:

I fully agree that you are obligated, legally and morally, to pay back money you borrow, however the banks need to play ball too.

Tonsass wrote: »

and are u any other arragnment with the bank? just that we haven't paid a penny in over a year towards the mortgage and not even letter from them or anything...just doesnt seem right

Jesussss the banks in this country would do what it takes not to repossess a house!!! It is madness in their part. Your house should have long been taken off you by your bank.

Chiorino wrote: »

I fully agree that you are obligated, legally and morally, to pay back money you borrow, however the banks need to play ball too.

Just out of curiosity, in your position where you say you are able to meet your repayments, why should the banks be expected to "play ball" and accept a lower repayment amount to clear the mortgage?

Ah fair enough.

Dades wrote: »

Tonsass, why are you selling the house for a loss if the bank aren't on your case and you can barely scraping by without paying your mortgage?

Even if they forgave you the difference you'd still be homeless.

I think he said he'd only be able to barely scrape by if he paid his mortgage, so he's not prepared to live like that. And would presumably be able to afford to rent, or emigrate.

I could have picked it up wrong though.

Is it an option to rent out a room or two? Might bring in some funds. Just a thought

Chiorino wrote: »

I fully agree that you are obligated, legally and morally, to pay back money you borrow, however the banks need to play ball too.

The op may well be legally obligated to pay but the op should in no way feel morally obligated to pay.
The banks who are the mortgagor entered into a contract with the mortgagee with the benefit of knowledge that the mortgagee did not have ie. access to housing data and previous sales information. Furthermore the banks failed to do their due diligence when getting appraisals of these assets which were being used to secure the said mortgages.
This willful negligence and sometimes outright fraud on the banks behalf led directly to this housing bubble and as such the banks should suffer the majority of the losses.
With every investment there are inherent risks and the bank should not be shielded from loss anymore than the mortgagee.
The op should do everything in their power to mitigate their losses just as the bank are doing.


Good luck op and try not to lose sleep over this.

mrmitty wrote: »

The op may well be legally obligated to pay but the op should in no way feel morally obligated to pay.

With every investment there are inherent risks

Replying twice as I'm so angry at this..
ahh de banks de banks de banks..

PAY BACK YOUR DUES

you risked, but risked wrong

lima wrote: »

Get the f**k out of it and stop trying to justify breaking the law. This person took out a mortgage on a property and obvisously screwed up and didn't take into account the fact they they may lost their jobs. Thats THEIR FAULT. They made the mistake, not the banks, they went in and got a mortage, the banks didn't force it upon them.

OP you NEED to pay back what you owe the banks, you need to be pursued for the rest of your life because you owe what you owe.

How DARE you not pay your mortgage and expect to live in the same house, you are ripping me as a tax payer off and you deserve the house to be taken from you and you should be shoved into a rental property asap.

If you read my post clearly you'll see that I'm not trying to justify breaking the law and I'm not suggesting that the op get off Scott free.
I'm meerly saying that the banks are more culpable than the op therefore they should bear the majority of the loss.
That is how capitalism works.

Risk versus reward.

The bank took a risk with the hope of making a profit, they did not manage their risk properly and as such should suffer the loss too.

GHOST MGG wrote: »

lima how is it their fault they lost their jobs? explain that bit to me.
and as for your "anger" issues over an internet post....
i think you need more help than the OP...

ohh the interweb nooo

I'm obviously not angry about this specific post, as I have a life and joy and all that, but for someone to not pay back what they committed to pay back is inconceivable to me.. I know tonnes of people who have come over to Ireland and got jobs, I also know tonnes of people who have emigrated to find work and have thus not had to rely on the state for income. This OP sounds lazy, like they should get their sh*t together and train themselves up to work either here or abroad.... there are plenty of foreigners coming over here and working for our high minimum wage, yet so many Irish refuse to work for such wages and preferto crib and moan about not being able to pay their dues when in fact they over borrowed.