Permanent TSB Mortgage write off

harry999

Hi

Joe Bloggs example.

mortgage 300k

house sale revenue = 150k

Joe wrote to PTSB saying he wanted to sell his house and clear mortgage. He does not have finance to pay off the 150k that would be due if he sold house. SFS was submitted to PTSB and they came back to say they will reduce monthly repayments from 1400 pm to 980 pm - but Joe did not ask for this, he wants to sell the house. PTSB will not give an answer how much of the 150k PTSB will write off if Joe sells the house. When house sold Joe will have to put in another SFS application to PTSB and then they will advise. The mortgage is a tracker - would you sell the house & hope for the write off ? Anybody heard of PTSB writting off debt. Thanks

harry999

PTSB said I should Joe should get independant financial advise - would you know of any financial advisers in Dublin happy to speak to Joe & and these financial have deno deals for clients with PTSB RECENTLY.

wexie

harry999 wrote: »

Hi

Joe Bloggs example.

mortgage 300k

house sale revenue = 150k

Joe wrote to PTSB saying he wanted to sell his house and clear mortgage. He does not have finance to pay off the 150k that would be due if he sold house. SFS was submitted to PTSB and they came back to say they will reduce monthly repayments from 1400 pm to 980 pm - but Joe did not ask for this, he wants to sell the house. PTSB will not give an answer how much of the 150k PTSB will write off if Joe sells the house. When house sold Joe will have to put in another SFS application to PTSB and then they will advise. The mortgage is a tracker - would you sell the house & hope for the write off ? Anybody heard of PTSB writting off debt. Thanks

Can Joe (:rolleyes:) afford to pay the mortgage?

So essentially what you're saying is that Joe...has 150k negative equity but would like the bank to go : ah sure Joe, know what, you forget about that 150k and we'll call it quits?

Magic 8ball says your chances are ....not good

IF.....there have been any deals recently I'd imagine they would have been done on properties already in distress, I'd also imagine they would have been done very quietly and I would also imagine they would have been researchd very very carefully. IE, the bank would have exhausted any means of recovering the money and just want to cut their losses, certainly not because it would be convenient for the customer.

wexie

if Joe (:rolleyes:) wants good independent advice I could recommend a guy in Dublin called Frank (is it okay to make recommendations here mods?) (you'll find him if you google :ask frank dublin) who has very good contacts within PTSB.

I'm pretty sure I know what he'll be telling you though.

The_Pretender

harry999 wrote: »

PTSB said I should Joe should