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Bank representative calling to house?

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    #32
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    Warrior1916 wrote: »
    David Hall I would contact from New Beginnings or Irish Mortgage Holders association....he is a champion of those in mortgage distress

    From memory- David Hall is no longer involved in New Beginnings- I believe they parted ways back in 2013- after which he set up The Irish Mortgage Holders Organisation.

    It would certainly be beneficial to talk to them (the Irish Mortgage Holders Organisation). They are actively engaging with KBC- and receive fees from KBC when dealing with KBC customers- so the end user doesn't have to pay. KBC actually state that it is one of the engagement options they recommend. According to press releases, the Irish Mortgage Holders Organisation has already advocated on behalf of over 500 KBC customers nationwide, who have found themselves in difficulty.

    Absolutely no harm to talk to them.

    One thing- keep an eye on the paper work you have gotten thus far from the bank- it is not in your interest to have any deadlines associated with it expire, without you having taken action on them.........

    Personally- I think warehousing half the loan interest fee- and extending the other half over 27 years (providing this meets your income/outgoings) is fair on both sides.

    Now- I'd be chasing the ex and getting him the hell off the title deeds.


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    #33
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    In a way the deal is the equivalent of kicking the can down the road. Sometimes kicking the can down the road is a good thing to do.

    The OP needs to have somewhere to live with her children. This way she stays in her home, pays what she can manage & doesn't end up on the street. The bank keeps the mortgage-holder who has a vested interest in the house, doesn't have court proceedings to pay for & I assume hope that they will be paid eventually.

    Plenty of people downsize to realise some capital in later years. Warehousing 50% of the loan interest free seems like a decent suggestion from the bank. 27 years is a long time off - the OP could be in entirely different (and possibly better) circumstances in 5 years never mind 27. Sometimes you just have to deal with the now.

    I agree though that the ex will have to be dealt with, as he is currently not paying anything but remains a possible beneficiary in the future. One step at a time though!


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