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Mortgage arrears

  • 20-11-2011 2:42pm
    #1
    coolshannagh28
    Registered Users, Registered Users 2 Posts: 1,488 ✭✭✭


    The latest statistics from the financial regulator showing 100000 mortgages in difficulty and another 50000 coming down the line represent a huge threat to the banking system .Is this the straw which will break the camels back ?


Comments

  • #2
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    No, the refinancing of the banks and rebuilding of reserves would have accounted for a far worse situation than this.


  • #3
    liammur
    Closed Accounts Posts: 3,461 ✭✭✭liammur


    nesf wrote: »
    No, the refinancing of the banks and rebuilding of reserves would have accounted for a far worse situation than this.

    Very true, the real losers were the shareholders, completely over capitalising the banks. I read B of Irl will return to a profit next year.


  • #4
    the culture of deference
    Banned (with Prison Access) Posts: 2,196 ✭✭✭the culture of deference


    coolshannagh28 wrote: »
    The latest statistics from the financial regulator showing 100000 mortgages in difficulty and another 50000 coming down the line represent a huge threat to the banking system .Is this the straw which will break the camels back ?

    wait until they figure out short term loans and credit card debt on top too.


  • #5
    Debtocracy
    Registered Users, Registered Users 2 Posts: 208 ✭✭Debtocracy


    the culture of deference wrote: »
    wait until they figure out short term loans and credit card debt on top too.

    Wait until they figure out the proportion of toxic CDOs on top of that.


  • #6
    coolshannagh28
    Registered Users, Registered Users 2 Posts: 1,488 ✭✭✭coolshannagh28


    I think the debt burden mortgage ,credit card ,personal loan etc will run out of control soon .Morgan Kelly predicted this a few months ago and it will cause mayhem politically and economically, we live in interesting times ,they will shortly become much more interesting!


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  • #7
    [Deleted User]
    Posts: 23,339 ✭✭✭✭ [Deleted User]


    I wouldn't think the cc and personal loan issue will be too serious, those who are out of work and who are unable to pay are a minority in comparson to those who can still make their payments and who can restructure. No offence to Morgan Kelly but there will be nothing to see here. Many people have been given a slap in the face by all the recent economical woes and have been saving or simply doing without rather than borrowing.


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