Strokestown **Mod Note in Post #4461**

simongurnick

Wheeliebin30 wrote: »

“The bank intends to put the shareholder in a position whereby the full €20.8 billion invested in the bank by the State can be recovered and is confident of doing so over time,”

intends? I've heard that one before. Tell that to shareholders of AIB.

Wheeliebin30

simongurnick wrote: »

intends? I've heard that one before. Tell that to shareholders of AIB.

Already paid back 6 billion.

What has this farmer paid back?

cameramonkey

Wheeliebin30 wrote: »

“The bank intends to put the shareholder in a position whereby the full €20.8 billion invested in the bank by the State can be recovered and is confident of doing so over time,”

You should read up a bit because you dont understand what was taken on by the state. The state is up to it's eyeballs in bank and developer debt.

SEPT 23 1989

simongurnick wrote: »

Sad to see after everything Ireland has gone through after the last few years, that so many people automatically lean to the side of the banks/government/establishment. Will we ever learn?

2008 was the year the curtain was opened into the world of these money lenders

How anyone could side with these sociopaths after what they have done to you ,your children and grandchildren is beyond me

simongurnick

Wheeliebin30 wrote: »

Already paid back 6 billion.

What has this farmer paid back?

not sure, i don't know him. But I saw someone post earlier they were looking to do a grand a month.

h2005

cameramonkey wrote: »

You should read up a bit because you dont understand what was taken on by the state. The state is up to it's eyeballs in bank and developer debt.

The VAT this guy should have paid the state would have come in handy then. Not to mention the applicable taxes on all the other debts he’s welched on

Naos

SEPT 23 1989 wrote: »

2008 was the year the curtain was opened into the world of these money lenders

How anyone could side with these sociopaths after what they have done to you ,your children and grandchildren is beyond me

So should everyone who has a mortgage stop paying then, because of what the banks did?

bb12

h2005 wrote: »

The VAT this guy should have paid the state would have come in handy then. Not to much the applicable taxes on all the other debts he’s welched on

Nobody knows what he has or hasn't paid. That's the only true fact in all this.

Everything else written here is pure conjecture. All the previous judgements could be paid off by now for all we know.

Even the presence of a valid court order is in doubt. They appear to have proper legal representation now, so maybe the actual facts will emerge in time but for now nobody really knows anything.

My own thoughts are that if such a man was so much of a chancer, which is what is being proposed by so many here, there is no way on earth that neighbours would provide such unwavering support and stand outside the property in solidarity in the wind and the rain all through the night.

Naos

bb12 wrote: »

Nobody knows what he has or hasn't paid. That's the only true fact in all this.

Everything else written here is pure conjecture. All the previous judgements could be paid off by now for all we know.

Even the presence of a valid court order is in doubt. They appear to have proper legal representation now, so maybe the actual facts will emerge in time but for now nobody really knows anything.

My own thoughts are that if such a man was so much of a chancer, which is what is being proposed by so many here, there is no way on earth that neighbours would provide such unwavering support and stand outside the property in solidarity in the wind and the rain all through the night.

Is this a joke? Have you read any of this thread or any piece of news around this story?

bb12

bb12 wrote: »

Nobody knows what he has or hasn't paid. That's the only true fact in all this.

Everything else written here is pure conjecture. All the previous judgements could be paid off by now for all we know.

Even the presence of a valid court order is in doubt. They appear to have proper legal representation now, so maybe the actual facts will emerge in time but for now nobody really knows anything.

My own thoughts are that if such a man was so much of a chancer, which is what is being proposed by so many here, there is no way on earth that neighbours would provide such unwavering support and stand outside the property in solidarity in the wind and the rain all through the night.

plenty of facts posted, you just dont like them

your point however is desperate conjecture

relax carry on

simongurnick wrote: »

not sure, i don't know him. But I saw someone post earlier they were looking to do a grand a month.

A grand a month on ever increasing debt? That's around 41 years for his tax debt alone if interest wasn't accruing on it.

Considering it looks like nothing was paid on his mortgage for years and he has a history of being a bad debtor why would anyone he owes money too settle for such a paltry amount. This isn't someone down on their luck who has tried their best. This is a chancer who has issues with his financial responsibilities.

Danzy

Bringing the Loyalists in has really put the kibosh on the sale of this.

People are reluctant to buy seized assets but add that into the story and people will run miles.

Would you touch it if the Kinahan gang were involved in anyway, no, then who'll touch it when people who make them look like a school gang are in the frame.

Should he pay up, certainly, has he been to date, who knows , if he had it would not necessarily stop a hedge fund, we have seen that already.

It is a bit much to be going on about the rule of law when your getting involved with people who'd happily shoot Guards Judges and a few neighbours up there for being rowdy taigs.

Skylinehead

simongurnick wrote: »

you sure that last part is true? We're talking about interest rates, not insurance premiums.

It's no coincidence that our interest rates are so high compared to the rest of Europe.

simongurnick

relax carry on wrote: »

A grand a month on ever increasing debt? That's around 41 years for his tax debt alone if interest wasn't accruing on it.

Considering it looks like nothing was paid on his mortgage for years and he has a history of being a bad debtor why would anyone he owes money too settle for such a paltry amount. This isn't someone down on their luck who has tried their best. This is a chancer who has issues with his financial responsibilities.

so how did they lend to him in the first place?

JCJCJC

bb12 wrote: »

Even the presence of a valid court order is in doubt. They appear to have proper legal representation now, so maybe the actual facts will emerge in time but for now nobody really knows anything.
.

Consulting a solicitor after a High Court repossession order has been executed is like buying a box of condoms after your girlfriend announces she’s expecting twins.

Allinall

Danzy wrote: »

Bringing the Loyalists in has really put the kibosh on the sale of this.

People are reluctant to buy seized assets but add that into the story and people will run miles.

Would you touch it if the Kinahan gang were involved in anyway, no, then who'll touch it when people who make them look like a school gang are in the frame.

Should he pay up, certainly, has he been to date, who knows , if he had it would not necessarily stop a hedge fund, we have seen that already.

It is a bit much to be going on about the rule of law when your getting involved with people who'd happily shoot Guards Judges and a few neighbours up there for being rowdy taigs.

Which of these guys shot guards or judges?

simongurnick

Nixonbot wrote: »

It's no coincidence that our interest rates are so high compared to the rest of Europe.

any facts to back that up?

h2005

simongurnick wrote: »

any facts to back that up?

https://www.irishtimes.com/business/economy/mortgage-rates-in-ireland-are-highest-in-europe-1.3564370

http://www.moneyguideireland.com/mortgage-rates-higher-ireland-compared-eu.html

A particularly relevant quote:

"One of the reasons for higher rates cited by the Central Bank – is that there is more risk of default on mortgages in Ireland. For example – in France, they have 3% of loans classed as “Non Performing” . In Germany it is 1.87% , Spain 4.53%. Here in Ireland the rate is much higher at 11.23% ( Figures from ECB). So the banks try to get more revenue from mortgage payers to cover the higher general risk of non payment."

Wheeliebin30

h2005 wrote: »

https://www.irishtimes.com/business/economy/mortgage-rates-in-ireland-are-highest-in-europe-1.3564370

http://www.moneyguideireland.com/mortgage-rates-higher-ireland-compared-eu.html

A particularly relevant quote:

"One of the reasons for higher rates cited by the Central Bank – is that there is more risk of default on mortgages in Ireland. For example – in France, they have 3% of loans classed as “Non Performing” . In Germany it is 1.87% , Spain 4.53%. Here in Ireland the rate is much higher at 11.23% ( Figures from ECB). So the banks try to get more revenue from mortgage payers to cover the higher general risk of non payment."

Facts aren’t legit around here it seems.

bb12

h2005 wrote: »

https://www.irishtimes.com/business/economy/mortgage-rates-in-ireland-are-highest-in-europe-1.3564370

http://www.moneyguideireland.com/mortgage-rates-higher-ireland-compared-eu.html

A particularly relevant quote:

"One of the reasons for higher rates cited by the Central Bank – is that there is more risk of default on mortgages in Ireland. For example – in France, they have 3% of loans classed as “Non Performing” . In Germany it is 1.87% , Spain 4.53%. Here in Ireland the rate is much higher at 11.23% ( Figures from ECB). So the banks try to get more revenue from mortgage payers to cover the higher general risk of non payment."

from the same article quoted above:

The banks have long maintained that the higher rates reflected the elevated risk of lending into the Irish market, but in reality the premium was there to compensate for loss-making tracker portfolios.

Skylinehead

simongurnick wrote: »

any facts to back that up?

Not very difficult, as h2005 as shown, plus a simple google:

https://www.irishtimes.com/business/economy/mortgage-rates-in-ireland-are-highest-in-europe-1.3564370

relax carry on

simongurnick wrote: »

so how did they lend to him in the first place?

Because the loan was taken out years back before his Revenue issues. Looks like KBC have been trying to sort this since 2009.

https://www.irishtimes.com/news/ireland/irish-news/roscommon-eviction-kbc-seeking-debt-repayment-since-2009-1.3736042

Mrsmum

goat2 wrote: »

I fully agree with you, If he were a chancer and not caring, the neighbours would not have been so angry about what happened to him, His side is not fully told I should think.
It would be good to hear him speak of what really is going on,

I totally agree with this too. I grew up in a rural village and locals would have a near perfect take on each other's situations and no meas on a chancer getting fat & rolling in money while paying for nothing. Begrudgery alone would have them pissed off with him if that was the case. It is really telling imo that his neighbours and people in the local town are vocally supporting him.

alias no.9

simongurnick wrote: »

But that's the point. They are not comparable. In one case the farmer is being held to the consequences of not supporting the debt. In the case of the banks etc. the vast vast majority weren't.

The owners of the Irish banks, the share holders in the banks, had their holdings wiped out, reduced to zero. The state intervened to stop the entire customer base from being wiped out too. You can argue the merits of that on another thread but it's simply not correct to say nobody was held to account.

Danzy

Allinall wrote: »

Which of these guys shot guards or judges?

What are you on about. Read it again.

alias no.9

bb12 wrote: »

from the same article quoted above:

The banks have long maintained that the higher rates reflected the elevated risk of lending into the Irish market, but in reality the premium was there to compensate for loss-making tracker portfolios.

Trackers that are being paid to schedule are not loss making

BattleCorp

mikeym wrote: »

Maybe they might come to an arrangement and come up with a repayment plan.

Too late. The bank own the property now. There'll be no repayment plan.

simongurnick

h2005 wrote: »

https://www.irishtimes.com/business/economy/mortgage-rates-in-ireland-are-highest-in-europe-1.3564370

http://www.moneyguideireland.com/mortgage-rates-higher-ireland-compared-eu.html

A particularly relevant quote:

"One of the reasons for higher rates cited by the Central Bank – is that there is more risk of default on mortgages in Ireland. For example – in France, they have 3% of loans classed as “Non Performing” . In Germany it is 1.87% , Spain 4.53%. Here in Ireland the rate is much higher at 11.23% ( Figures from ECB). So the banks try to get more revenue from mortgage payers to cover the higher general risk of non payment."

So, that's the banks story. Main reason is they lost their holes on the tracker products and then decided not to pass on any interest rate reductions to the customers...but should we be surprised while lemmings like you lap it up.

alias no.9

simongurnick wrote: »

So, that's the banks story. Main reason is they lost their holes on the tracker products and then decided not to pass on any interest rate reductions to the customers...but should we be surprised while lemmings like you lap it up.

Trackers that are being paid to schedule are not loss making, they cannot be milked to cover other losses but they are not loss making.

feargale

Patww79 wrote: »

But getting the likes of that to come into our country to force people out? They should have been chopped up the minute they came near the property.

Bad as the banks are, and they are very, very bad, I would rather be at their mercy than at the mercy of the lowlife scum who camouflage their criminality in a fantastical cloak of "patriotism." I would have thought the illicit drug market would be particularly bullish at this time of year and would keep these traitors too busy to pose as "police."