Banks using private eyes to hunt vanishing homeowners

Rabidlamb

http://www.independent.ie/national-news/banks-using-private-eyes-to-hunt-vanishing-homeowners-2518903.html

BANKS and sub prime lenders are using private investigators to find borrowers who have abandoned their homes, a court heard yesterday.

Homeowners battling against repossession are also facing legal fees of up to €35,000 if lenders pursue them in the courts.

Yesterday, seven homes and premises were repossessed at the High Court in Dublin where it was revealed that private investigators are being hired to locate the owners of abandoned properties.

Correspondence issued by some sub prime as well as mainstream lenders, seen by the Irish Independent, reveals the additional financial strains on families fighting repossesion cases.

Borrowers are being warned that they face legal fees of up to €35,000 if they do not tackle their arrears and their case is fully defended in the High Court.

How dare they come after the defaulter for their legally entitled money.;)
This wont prove popular in political circles.

Rabidlamb

I'm bumping my own dying thread from yesterday as it's even more relevant in light of PTSB's threatened hike.
How bloodthirsty do we expect the banks to be in light of growing repossessions & the recovery of the shortfall ?.