Danske bank write off mortgages

harry999

Hi

I have a mortgage with Danske bank & cannot afford it. I have filled out the standard financial statement & going to approach them with view to selling this investment property, paying what get to the bank, and asking them to write off the remainder.

Did another do similar? Any know any experts in debt write off? Thanks

harry999

Danske bank say they want to move from Ireland, so surely they will be happy to see mortgage closed, even if a write off involved.

marathonic

harry999 wrote: »

Danske bank say they want to move from Ireland, so surely they will be happy to see mortgage closed, even if a write off involved.

I've heard of many people approaching, but none being successful.

Danske can continue to take payments from you. If you continue repayments, they are better off than if they wrote off some of your mortgage.

If you no longer make repayments, they can repossess, sell and still hold you liable for the shortfall.

There is an expectation from some that they may get a write off of 10-20% IF they are on a tracker mortgage. Apart from this slight possibility, there isn't a hope of a write off.

At the moment, small writedowns for early repayments of trackers aren't even on the table - but Danske might decide to do this if they want to reduce their loan book. However, any offer of writedowns is likely to be much lower than what you are expecting.

My personal opinion is that Danske will sell their loan book to some big US investment firm who will be more quick to pull the trigger with regards to repossessing properties with mortgages in arrears.

harry999

Any other person being successful with mortgage write off's with Danske bank or mortgage write off's with PTSB? Thanks