Unsustainable Mortgage

Pablo Sanchez

PureClaas wrote: »

You have and you haven't bill.

My issue is the fact that they dont own the loan and are claiming payment for something they dont own.

Honestly im only starting to understand it all and at first all seemed very bizzare.

I actually dont think you understand it at all.

How does raising money based upon the strength of a pool of mortgages (which you have no proof of) mean that the original bank no longer 'owns' the loan?

cookie1977

Pureclaas. I think it's awful that people are in such terrible situations and that there are plenty of places to point the finger of blame but I really think your opinion in this matter is more eyes wide shut then eyes wide open (no offence meant). You've found something that suits your thoughts and are blindly running with it.

I would certainly not recommend anyone follow your current course of action at all

chris85

PureClaas wrote: »

How dare you assume im a freeloader Chris. Im far from the fact. Iv worked my ass off for the last 16 years and got nothin really to show for it. I know one thing i certainly didn't bring down this economy and the neck on you to claim or assume iv bumbed off it is outrageous.

Chris you and other have the neck to defend banks and the financial system on here when there are men and women in this country taking there own lives because of debt and nasty letters from these great financial institutions. Well im glad to hear Chris your OK with this. But ME, no im not ok with this.

You are not paying for something you contracted too. I have to pay rent, my bills, if i dont, i have no where to live and no TV/elec. You are not paying your mortgage and expect the live there all happy days.

No free lunches pal.

I have not defended the bank if you reread by post. I have disagreed with your stance on this. I actually hold no liking to the banks but I have however always met my obligations, both financially and morally.

betterdays

betterdays wrote: »

.................. Anyway, while it is true we were paying the mortgage in full since 2005 - we were doing so at the cost of no holidays, no clothes, no eating out - all to pay for a house that if we had any cop on we should have known was unsustainable if anything changed in our circumstances.

betterdays wrote: »

Sorry forgot to say that we are in negative equity. We have paid €125k off the mortgage over the last 5 years. Total mortgage was €540 - it is currently €507k. We have trs of €333 and are on a fixed mortgage 4.9% - as we cannot pay the mortgage now, what will happen when our trs is gone and we move to a standard variable rate in 2013 - thats why we were thinking we should surrender now instead of pumping more money into a house we will never get to keep. thanks for your replies. I will look at the links.

Sorry to hear of your predicament.
Perhaps thinging of ways of cutting expenditure may be worth looking into, smaller/cheaper cars etc. Paying your mortgage instead of meals out and holidays is par for the course for many folk these days.

Your business may well pick up again.

Not considering childcare etc a while back when ye got the mortgage is fairly startling to be honest though.

PureClaas

cookie1977 wrote: »

Pureclaas. I think it's awful that people are in such terrible situations and that there are plenty of places to point the finger of blame but I really think your opinion in this matter is more eyes wide shut then eyes wide open (no offence meant). You've found something that suits your thoughts and are blindly running with it.

I would certainly not recommend anyone follow your current course of action at all

No offence taken at all cookie,

But honestly my eyes are far from shut. They use to be but not anymore and i wouldn't advise anybody to take anything i say as advise. Go look into it for yourself. When it was brought to me first i passed it off as total crap too but after some little tests and talking to alot of others that have gone down this route it looks more and more plausable. But to be fair no case has yet been won in Ireland to the best of my knowledge. Only in America.

But wow can you think of the implications if it is proven in open court.
My only worry here is, everything thats possible will be done to prevent this .

Either way i dont care. Its brought back a smile on my face rather than w world of worry at the end of every month and if i get nothing else from it, it was well worth the effort. Screw em

PureClaas

chris85 wrote: »

You are not paying for something you contracted too. I have to pay rent, my bills, if i dont, i have no where to live and no TV/elec. You are not paying your mortgage and expect the live there all happy days.

No free lunches pal.

I have not defended the bank if you reread by post. I have disagreed with your stance on this. I actually hold no liking to the banks but I have however always met my obligations, both financially and morally.

Chris when the letters start coming in your door and ya soil yourself reading all the threats under the sun being made against you because your prediciment changes out of no fault of your own we'll see how your opinion changes.

I pay my bills, electricty, heating oil and on proof of ownership of the loan ill pay my mortgage too. But i defo wont be going out topping myself over your so called morals to pay something that out of no fault of my own cant afford now.

I work dam hard and am disgusted with the way this country and the people in it has been raped.

PureClaas

Pablo Sanchez wrote: »

I actually dont think you understand it at all.

How does raising money based upon the strength of a pool of mortgages (which you have no proof of) mean that the original bank no longer 'owns' the loan?

Its common knowledge within the banking sector that mortgages were turned into promisary notes securtized and sold.

My proof Pablo is the fact that the bank cannot prove ownership over the loan. Thats my proof.

What do ya think was going on during the waiting period after you signed the deed in the solicitors.
Btw was anybody there from the bank to sign it too??? No, crap well its not a contract so is it.

chris85

PureClaas wrote: »

Chris when the letters start coming in your door and ya soil yourself reading all the threats under the sun being made against you because your prediciment changes out of no fault of your own we'll see how your opinion changes.

I pay my bills, electricty, heating oil and on proof of ownership of the loan ill pay my mortgage too. But i defo wont be going out topping myself over your so called morals to pay something that out of no fault of my own cant afford now.

I work dam hard and am disgusted with the way this country and the people in it has been raped.

Letters dont come in my door. My debts get paid.

This proof of ownership thing is a load of tripe. I would get some legal advice.

Pablo Sanchez

PureClaas wrote: »

Its common knowledge within the banking sector that mortgages were turned into promisary notes securtized and sold.

My proof Pablo is the fact that the bank cannot prove ownership over the loan. Thats my proof.

What do ya think was going on during the waiting period after you signed the deed in the solicitors.
Btw was anybody there from the bank to sign it too??? No, crap well its not a contract so is it.

I give up. I honestly am looking forward to hear how your crusade ends. But something tells me your ideas would be better suited to the conspiracy theories forum.

While i disagree with everything you say, believe it or not im basically in the same situation that you are, but il honour my responsabilities.

You have brought up the fact that people are committing suicide over large mortgage debts, has it occured to you that people with your attitudes are putting more pressure on the system and that means there is less help available for those who truly need it.

I wont be commenting again but i geniunly would appreciate if you could update us after this has gone to court, maybe you can find an internet cafe or something and let us know, according to todays Irish Times a lot of homeless people are bedding down there.

PureClaas

Pablo Sanchez wrote: »

I give up. I honestly am looking forward to hear how your crusade ends. But something tells me your ideas would be better suited to the conspiracy theories forum.

While i disagree with everything you say, believe it or not im basically in the same situation that you are, but il honour my responsabilities.

You have brought up the fact that people are committing suicide over large mortgage debts, has it occured to you that people with your attitudes are putting more pressure on the system and that means there is less help available for those who truly need it.

I wont be commenting again but i geniunly would appreciate if you could update us after this has gone to court, maybe you can find an internet cafe or something and let us know, according to todays Irish Times a lot of homeless people are bedding down there.

You now admitt your basically in the same situation as myself but yet still wanna defend the system tooth and nail?? If you are in the situation Pablo, go read the book do your own research maybe even attend a group meeting and listen to whats said. Like i said before i meet all my responsabilities and i think the few pound im left with is better left in my pocket to survive rather than throw it into a black hole my friend.

Help available for who?? Dam i got no help off anybody, the bank only want money, not help you out. All this pluggin for MABS as well, are they gona pay my mortgage till i get back on my feet. Some chance.

So I choose to go down this route. Iv got nothing to loose but a home i cant afford now because our great men running this country led us all down the garden path.

But i accept responsibility for my actions and also on how i choose to tackle it to grant me a better life. I dont know why thats viewed as such a bad thing on here??

This is not a conspiracy, its something i actually have in motion for myself

PureClaas

chris85 wrote: »

Letters dont come in my door. My debts get paid.

This proof of ownership thing is a load of tripe. I would get some legal advice.

Now Chris i hardly took all this on a whim and a prayer. lol.
Im far from an idiot let me tell ya.

At the end of the day my life has improved, im still in my home and have paid them nothing since last march.

No solicitor will fight this angle either.

unclebill98

Have you actually had any solicitor agree with you?

Cause it's unclear to me that your reading into to things to rationalise your thinking to make yourself feel better about your current situation.

chris85

PureClaas wrote: »

Now Chris i hardly took all this on a whim and a prayer. lol.
Im far from an idiot let me tell ya.

At the end of the day my life has improved, im still in my home and have paid them nothing since last march.

No solicitor will fight this angle either.

I never said you were an idiot so you must already have that in your head and you are defending yourself.

PureClaas

unclebill98 wrote: »

Have you actually had any solicitor agree with you?

Cause it's unclear to me that your reading into to things to rationalise your thinking to make yourself feel better about your current situation.

Not on record anyway Bill thats for sure. I doubt any solicitor will fight this angle mine wouldn't get involved but told me go for it if i got the balls which i do iv nothing to loose. Cant make things any worse anyway. Why dont you guys do the reading yourselves. I dont expect anybody to take my word on anything and my only proof so far is my own situation and others i know of.

All im doing is going through the motions that have been try'd by better than me. Look up Mary Elizebeth Croft. Her book is hard reading but interesting.

PureClaas

Bill by the way this is nothing iv come up with, this is all information passed on to others that have gone before me and i dont care who agrees with me or who doesn't. Im just saying its an option for people who have hit the wall and see no way out.

unclebill98

Well in that case until you do your leading yourself/others into a false sense of security. Read all the books you want, I'm sure you can find another book completly behind the banks.

However the law is the law. If you can get someone one board then fine I'd look more into it but until then it's hear say.

Im not against what your saying but there is not a tread of realistic proof to make me believe it's even possible to do it. Imagine if it was..... But that's all it is.... Imagination.

PureClaas

unclebill98 wrote: »

Well in that case until you do your leading yourself/others into a false sense of security. Read all the books you want, I'm sure you can find another book completly behind the banks.

However the law is the law. If you can get someone one board then fine I'd look more into it but until then it's hear say.

Im not against what your saying but there is not a tread of realistic proof to make me believe it's even possible to do it. Imagine if it was..... But that's all it is.... Imagination.

Well im going by what i see Bill, and what law are you talking about?
Sure its the lawfull angle thats being fought here.

The only Law it falls under is contract law and there is no contract so honestly it is gona be a case of who can prove what.

But i would suggest you look into it and id welcome anybody to rebutt the claims that the banks dont own the loan.

The bottom line is when its proven that they no longer own the loan the soil is really gona hit the fan as im sure you would agree.

Like yourself i thought it was all a load of bull at first but i dont think that anymore but it is dangerous grounds. But i would put an honest post on here if it blew up in my face. As i said i couldn't careless anymore what happens. But the reading is extremly interesting to say the least.

BuffyBot

Seem as folks can't follow a simple instruction, the thread is now closed.