About to lose my home

The_Morrigan

seanaway wrote: »

Terrible to hear of people losing their homes to those who caused teh problems.

I can't answer your question but I wish you the best of luck.

seanaway that's not quite right to be fair, although I'm sympathetic to those in financial difficulty they are also responsible for their own actions.
Please don't make this a 'them vs us' debate - it won't be tolerated.

MouseTail

May I suggest it may be useful to have a sticky in the forum with links to support agencies like MABS, newbeginnings, keepingyouhome etc? I do think this issue will become a source of more prevalent queries as house prices rise.

The_Morrigan

MouseTail wrote: »

May I suggest it may be useful to have a sticky in the forum with links to support agencies like MABS, newbeginnings, keepingyouhome etc? I do think this issue will become a source of more prevalent queries as house prices rise.

I've been working on such a thing for a few hours already- but it's quite the enormous task to compile.

MouseTail

The_Morrigan wrote: »

I've been working on such a thing for a few hours already- but it's quite the enormous task to compile.

Great minds... Im sure lots of posters, myself included are willing to help out once the initial draft is done.

The_Morrigan

MouseTail wrote: »

Great minds... Im sure lots of posters, myself included are willing to help out once the initial draft is done.

Yes I will throw up what I have either tonight or tomorrow and then people can send me any further information via pm to update the thread.

gaius c

Maybe mark which ones are "official" and which ones are ad hoc populist groupings.
Nobody here should be directed towards New Beginnings without some sort of warning that they are comprised of freeman loonies.

HelenV

The_Morrigan wrote: »

seanaway that's not quite right to be fair, although I'm sympathetic to those in financial difficulty they are also responsible for their own actions.
Please don't make this a 'them vs us' debate - it won't be tolerated.

Would you not agree though that many of those now in financial difficulties are only PARTLY responsible for their own actions, the financial institutions / state etc. bearing a large part of that responsibility also. Surely if we bailed out the banks they are duty bound to do their homework properly and suss out homeowners who find themselves in genuine difficulty.

The banks are going some way in writing down business debts; surely to God it makes economic sense to try to come sort of arrangement with homeowners too. People have been paying interest only at exorbitant rates for the past six years, trying their damndest, to keep their homes.

Where there's a will there's a way.

The_Morrigan

HelenV wrote: »

Would you not agree though that many of those now in financial difficulties are only PARTLY responsible for their own actions, the financial institutions / state etc. bearing a large part of that responsibility also. Surely if we bailed out the banks they are duty bound to do their homework properly and suss out homeowners who find themselves in genuine difficulty.

The banks are going some way in writing down business debts; surely to God it makes economic sense to try to come sort of arrangement with homeowners too. People have been paying interest only at exorbitant rates for the past six years, trying their damndest, to keep their homes.

Where there's a will there's a way.

That isn't what seanaway said though..

Look I worked in a retail bank when a lot of people were taking out credit they couldn't afford, there were loans being taken from credit unions as they weren't part of the ICB reports at the time. You had parents remortgaging houses for 'renovations' but handing over the money to their kids, over inflated income being given in applications. Applications accepting massive celtic tiger bonus as a given income etc/

I'm not saying this is the case with the OP, but I've seen first hand what banking customers can do if they want to buy or build their dream home to keep up with the neighbours.

You also have to keep in mind that at the time all the UK banks were starting to set up shop here and with their vast global pot of monies they were able to quote rates that were far lower than the national banks, this in turn meant that to keep up with the competition the national banks were trying to lower their rates as well...this was unsustainable and was a contributing factor in this whole mess.

I think the banks should be able to compromise with their customers on repayments and be able to negotiate some form of a deal, but I cannot wholeheartedly agree that 'the banks caused the mess' they did not hold a gun to anyones head when it came to applying for and drawing down on a mortgage/car loan/credit card.

HelenV

The_Morrigan wrote: »

That isn't what seanaway said though..

Look I worked in a retail bank when a lot of people were taking out credit they couldn't afford, there were loans being taken from credit unions as they weren't part of the ICB reports at the time. You had parents remortgaging houses for 'renovations' but handing over the money to their kids, over inflated income being given in applications. Applications accepting massive celtic tiger bonus as a given income etc/

I'm not saying this is the case with the OP, but I've seen first hand what banking customers can do if they want to buy or build their dream home to keep up with the neighbours.

You also have to keep in mind that at the time all the UK banks were starting to set up shop here and with their vast global pot of monies they were able to quote rates that were far lower than the national banks, this in turn meant that to keep up with the competition the national banks were trying to lower their rates as well...this was unsustainable and was a contributing factor in this whole mess.

I think the banks should be able to compromise with their customers on repayments and be able to negotiate some form of a deal, but I cannot wholeheartedly agree that 'the banks caused the mess' they did not hold a gun to anyones head when it came to applying for and drawing down on a mortgage/car loan/credit card.

I completely agree with a lot of what you say - customers were indeed over borrowing and many were trying to "keep up with the Jones'". That aside though, every time I switched on the TV there were adds encouraging young people to borrow for the purposes of buying their own homes (being independent!!) flying to the four corners of the earth etc. etc.

The government was also constantly banging the drum of "no money to pay pensions" in a few years time so many got scared, bought an apartment they could rent for the sole purpose of providing them with a pension in the future. I would have thought this was being somewhat responsible but yes indeed it backfired.

The country has landed itself in an unholy mess - I just don't think it's fair that those who tried to better their lot slightly, so as not to be a burden on society in later years, but now finding that due to circumstances beyond their control they are being so severely punished.

The_Morrigan

Life is unfortunately not fair - I was in a very stable job until a UK company took over a few years ago and absolutely annihilated the Irish workforce. I've been out of work nearly a year now and if it wasn't for the advertisments about mortgage protection I would be losing my home. I can completely understand both sides of the coin here having worked in the industry, being a home owner and of course being an unemployed homeowner trying to pay my financial obligations on the pittance that is the JSB. I'm lucky I had insurance, I'm luckier than most that I was allowed take a 3 month break on my mortgage until I sorted out my insurance and my social welfare payments and a lodger.

vaperous diabolous

I'll tell you how I got my mortgage. My broker faked a document which stated that I, a father of 4 children with a partner at the time, would let out 2 rooms in my 3 bedroom house for€550 a month between them. I know this because I asked for copies all my documents some time ago and instead of just copies I was given the originals also. In going through them, I found this document.

How a bank actually believed that a father of 4 would take out a mortgage only to let out the rooms which were earmarked for his children beggars belief.

The_Morrigan

vaperous diabolous wrote: »

I'll tell you how I got my mortgage. My broker faked a document which stated that I, a father of 4 children with a partner at the time, would let out 2 rooms in my 3 bedroom house for€550 a month between them. I know this because I asked for copies all my documents some time ago and instead of just copies I was given the originals also. In going through them, I found this document.

How a bank actually believed that a father of 4 would take out a mortgage only to let out the rooms which were earmarked for his children beggars belief.

Ah brokers, yes some of those commission based guys were ruthless at times.
But, typical Irish banks don't work on commission so the staff didn't have any incentive to do stuff like this.

Did you take action against the broker for providing false documents to the bank without your knowledge?

El_Dangeroso

vaperous diabolous wrote: »

I'll tell you how I got my mortgage. My broker faked a document which stated that I, a father of 4 children with a partner at the time, would let out 2 rooms in my 3 bedroom house for€550 a month between them. I know this because I asked for copies all my documents some time ago and instead of just copies I was given the originals also. In going through them, I found this document.

How a bank actually believed that a father of 4 would take out a mortgage only to let out the rooms which were earmarked for his children beggars belief.

OMG that's shocking, he did that without your knowledge? How is that even legal?

vaperous diabolous

No. I have considered it for quite a while but thought that it would be of no use as this man is of a very high standing in Irish society. I have been told not to because no solicitor will touch it. What makes it worse, he is, or at least used to be, touting financial advice on RTE television for years. Don't know if he still is.

h2005

vaperous diabolous wrote: »

I'll tell you how I got my mortgage. My broker faked a document which stated that I, a father of 4 children with a partner at the time, would let out 2 rooms in my 3 bedroom house for€550 a month between them. I know this because I asked for copies all my documents some time ago and instead of just copies I was given the originals also. In going through them, I found this document.

How a bank actually believed that a father of 4 would take out a mortgage only to let out the rooms which were earmarked for his children beggars belief.

I presume you've taken action against the broker?

The_Morrigan

vaperous diabolous wrote: »

No. I have considered it for quite a while but thought that it would be of no use as this man is of a very high standing in Irish society. I have been told not to because no solicitor will touch it. What makes it worse, he is, or at least used to be, touting financial advice on RTE television for years. Don't know if he still is.

This irks me, I hate the attitude that some people are above the law.
The Gardai maybe interested in this especially if the guy did it to more than one customer.

vaperous diabolous

The_Morrigan wrote: »

This irks me, I hate the attitude that some people are above the law.
The Gardai maybe interested in this especially if the guy did it to more than one customer.

Very good point. I may take it to a solicitor tomorrow.

The_Morrigan

vaperous diabolous wrote: »

Very good point. I may take it to a solicitor tomorrow.

Make sure you keep the originals of everything you have to date;
Pain in the backside, but copy every single piece of paper you have from the transaction and all dealings you've had with the bank since. Things do have a habit of getting lost when you are dealing with people who aren't so concerned about the issue.

Good luck with it.

dricko_lim

vaperous diabolous wrote: »

Very good point. I may take it to a solicitor tomorrow.

If you were to complain to the Financial Services Ombudsman about the broker. the statute of limitations is 6 years from the date of the 'offence' i.e. the forged document. Keep that in mind...

vaperous diabolous

I think that may have passed this month

The_Morrigan

vaperous diabolous wrote: »

I think that may have passed this month

Knowledge of the offence is fairly recent though, that could work in your favour.

HelenV

vaperous diabolous wrote: »

Very good point. I may take it to a solicitor tomorrow.

Have his lies on your application had a negative impact on you? What would be the purpose of seeking legal advice?

vaperous diabolous

HelenV wrote: »

Have his lies on your application had a negative impact on you? What would be the purpose of seeking legal advice?

The whole way through the application he told me I'd be well able to afford the mortgage and that my income shouldn't prevent from getting the mortgage. Had he not forged this document, I wouldn't have gotten this mortgage and would happily be living my life without the cloud of bankruptcy following me everywhere I go. I did speak to new beginnings this morning and they told me that bankruptcy was basically my only option as I can't even afford a personal insolvency plan.

HelenV

vaperous diabolous wrote: »

The whole way through the application he told me I'd be well able to afford the mortgage and that my income shouldn't prevent from getting the mortgage. Had he not forged this document, I wouldn't have gotten this mortgage and would happily be living my life without the cloud of bankruptcy following me everywhere I go. I did speak to new beginnings this morning and they told me that bankruptcy was basically my only option as I can't even afford a personal insolvency plan.

Ah sorry, I had overlooked your earlier posts.

I'm all in favour of justice and fighting tooth and nail for it. If you can prove you weren't complicit I'd go for it hell for leather. You'd need a GOOD legal representative so be sure to ask around before jumping in. You could get Counsel's Opinion just to test the waters.

I've had to take on the "system" against all the odds a few years ago. We went as far as the court hearing before they finally conceded defeat.

Shedite27

vaperous diabolous wrote: »

I'll tell you how I got my mortgage. My broker faked a document which stated that I, a father of 4 children with a partner at the time, would let out 2 rooms in my 3 bedroom house for€550 a month between them. I know this because I asked for copies all my documents some time ago and instead of just copies I was given the originals also. In going through them, I found this document.

How a bank actually believed that a father of 4 would take out a mortgage only to let out the rooms which were earmarked for his children beggars belief.

Did you (the applicant) not have to sign the documents before they were sent to the bank?

vaperous diabolous

Shedite27 wrote: »

Did you (the applicant) not have to sign the documents before they were sent to the bank?

Yes I did, but this document was never signed by me. It wasn't even a document within the application pack. It was a typed letter. As I say, I only have one copy of this document, every other document is there in original with duplicate copies as well as triplicate in some instances. This particular document is only in copy form, not an original.

iguana

eviltwin wrote: »

You're a real piece of work kicking someone who is down. Not everyone facing repossession is not paying. I'm going to court tomorrow as the bank want my home, we cover the mortgage plus a proportion of the arrears each month without fail, our arrears will be cleared by Christmas but its not enough for the bank so we face the cost and stress of a court appearance. Its not our fault that houses prices have gone sky high again.

I know this isn't your thread but I couldn't ignore this. That's an unbelievable situation and completely f'n ridiculous. I do understand why banks will move to repossess a house in as situation where it appears that the mortgage will not ever be paid off. But in a case where there is a pattern showing that the arrears are only a few months away from being eliminated I really can't see any logic in bringing you to court. I can only hope that the judge not only finds in your favour but awards costs against the bank.

youtube!

iguana wrote: »

I know this isn't your thread but I couldn't ignore this. That's an unbelievable situation and completely f'n ridiculous. I do understand why banks will move to repossess a house in as situation where it appears that the mortgage will not ever be paid off. But in a case where there is a pattern showing that the arrears are only a few months away from being eliminated I really can't see any logic in bringing you to court. I can only hope that the judge not only finds in your favour but awards costs against the bank.

I also find that situation absolutely crazy! Can I ask you eviltwin to name and shame your bank? My own situation is that I am with KBC and they have been more than helpful to be fair. When it became apparent that I could not afford the full mortgage they met with me and offered me several options which I will list below.


1) If we were to decide to give the house back that they would cover all of our moving expenses AND pay rent for a period of 6-12 months until we were back on our feet.

2) Split mortgage. Basically park half of our debt for 20 years and continue to pay 50% of of our liability, this would be reviewed every 2 years thereafter .

3) Arrears to be recapitalised and a new longer term which would bring our repayments down.

4) Finally they told us that the last thing they wanted to do was to actually end up in court and go through the repossession process because in the words of the man who met with us "we are in the business of providing finance for people to buy houses...we are not auctioneers" So Basically this last option was for us to surrender the house before it got any worse.

We chose option 2 (split mortgage) and we can now move on with our lives .

The_Morrigan

youtube! wrote: »

I also find that situation absolutely crazy! Can I ask you eviltwin to name and shame your bank? My own situation is that I am with KBC and they have been more than helpful to be fair. When it became apparent that I could not afford the full mortgage they met with me and offered me several options which I will list below.


1) If we were to decide to give the house back that they would cover all of our moving expenses AND pay rent for a period of 6-12 months until we were back on our feet.

2) Split mortgage. Basically park half of our debt for 20 years and continue to pay 50% of of our liability, this would be reviewed every 2 years thereafter .

3) Arrears to be recapitalised and a new longer term which would bring our repayments down.

4) Finally they told us that the last thing they wanted to do was to actually end up in court and go through the repossession process because in the words of the man who met with us "we are in the business of providing finance for people to buy houses...we are not auctioneers" So Basically this last option was for us to surrender the house before it got any worse.

We chose option 2 (split mortgage) and we can now move on with our lives .

No you can't!

youtube!

The_Morrigan wrote: »

No you can't!

Well why the hell not?? Its reprehensible the way his bank have acted , obviously you have vested interests why else would you care??