Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage debt forgiveness is here, Dublin nurse gets €152k debt write-down

Options
123457»

Comments

  • Options
    #182
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    I ,d say theres a lot of single people who would give back their
    apartments if they thought i could get 150k written off.IT s not a big hardship to move into a flat for 6 years.
    IF she,s working full time in 6 years she could come back to dublin
    buy a cheap apartment.
    Coolock is a working class area, theres much worse places than that.


  • Options
    #183
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    I wonder if Alison O'Riordan will be getting a write-down. Surely after this precedent, were I to have been paying towards a 150-250k black hole of NE, I would halt my mortgage payments immediately. Who wouldn't?


  • Options
    #184
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    Her income was reduced ,maybe she lost her job ,the article doesn,t go into detail on this.
    The banks deal with each person individually.This is not a blanket write off.
    Its not much help to someone who is working full time but who is in negative equity.
    There,s not a lot of single people giving their apartments back to the bank.


  • Options
    #185
    CiaranC
    Closed Accounts Posts: 6,300 ✭✭✭CiaranC


    Rojomcdojo wrote: »
    I wonder if Alison O'Riordan will be getting a write-down. Surely after this precedent, were I to have been paying towards a 150-250k black hole of NE, I would halt my mortgage payments immediately. Who wouldn't?

    Its pretty obvious that for people who dont have much to lose that this is the way forward. The smart, ballsy people have stopped paying their mortgage


  • Options
    #186
    daenerysstormborn3
    Closed Accounts Posts: 7,213 ✭✭✭daenerysstormborn3


    riclad wrote: »
    Her income was reduced ,maybe she lost her job ,the article doesn,t go into detail on this.
    The banks deal with each person individually.This is not a blanket write off.
    Its not much help to someone who is working full time but who is in negative equity.
    There,s not a lot of single people giving their apartments back to the bank.

    Going on the information available here it was her choice to reduce her income as she chose to switch to a significantly lower paid job.


  • Advertisement
  • Options
    #187
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    I think this case only apply,s to single people whose income has dropped ,or who lost their job.She still has to pay 20k.
    I think when her case went to court ,she was,nt working ,sounds like she may have got a new job after the case was over.


  • Options
    #188
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    CiaranC wrote: »
    Its pretty obvious that for people who dont have much to lose that this is the way forward. The smart, ballsy people have stopped paying their mortgage

    :D

    Well, the smart, ballsy, unethical people.


  • Options
    #189
    steve9859
    Closed Accounts Posts: 1,554 ✭✭✭steve9859


    I left the country for work a year or so ago, and won't be returning. But I thought it only right to do the right thing, honour my debts, and continue to pay my mortgage, even though rental income doesn't quite cover the mortgage. I am slightly in negative equity (though not massively), and I have to transfer money (from UK, but shortly to be the US) every month to make up a shortfall. But I fully intended to repay my mortgage in full.

    But if at any time it becomes clear that the differential between ECB and variable rates are widening even more due to banks increasing rates to compensate for mass forgiveness for irresponsible borrowers who want to walk away from their debts, I am posting back the keys. I am not going to pay more for other people's debt forgiveness through an increased variable rate. As far as I am concerned, the state cheating me in this way absolves me from my personal responsibility to do the right thing.

    And if that comes to pass, for those that end up paying the tab for me walking away from my debts....I apologise. But I not going to sit there like a sap, and subsidise other people's debt writeoffs


  • Options
    #190
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    steve9859 wrote: »
    And if that comes to pass, for those that end up paying the tab for me walking away from my debts....I apologise. But I not going to sit there like a sap, and subsidise other people's debt writeoffs
    I sympathise with your position, and I suggest that people who think that it will cost the taxpayer the same whether widespread debt-sharing is introduced on one hand, or whether it is made difficult for people to walk away from their debts on the other, listen to stories like this.


  • Options
    #191
    Kaner2004
    Closed Accounts Posts: 143 ✭✭Kaner2004


    If I hadnt got my mortgage paid off you can be sure I would stop paying now.


  • Advertisement
  • Options
    #192
    steve9859
    Closed Accounts Posts: 1,554 ✭✭✭steve9859


    Monty Burnz wrote: »
    steve9859 wrote: »
    And if that comes to pass, for those that end up paying the tab for me walking away from my debts....I apologise. But I not going to sit there like a sap, and subsidise other people's debt writeoffs
    I sympathise with your position, and I suggest that people who think that it will cost the taxpayer the same whether widespread debt-sharing is introduced on one hand, or whether it is made difficult for people to walk away from their debts on the other, listen to stories like this.

    I don't mind so much the cost being borne by taxpayers. But I can see at least some of it being borne by SVR borrowers....a much larger impact on a much smaller number of people. And that is not on....and will prompt me to walk away


Advertisement