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In tears listening to the radio

Deusexmachina

Sean O Rourke had a report today from the repossession court in Tralee. I found it really upsetting. There was a very quietly spoken gentle woman in tears about how the bank is threatening her to take her home from her. She has two children and, as a result of a marriage separation, is struggling to cope. The banks don’t care and are scaring her to death.
Then there was a man who was trying to deal with a vulture fund who bought out his loan from Irish Permanent and who is also getting threatened and terrified by these mafioso bully boys.
We bailed out these banks with our income tax. We watched in horror as unsecured bond holder walked away with our money. We propped up their outrageous salaries.
Where are our politicians now? When are we going to stop being so damned passive in the country. We need to defend our citizens from this attack.
I will not forget that poor woman and that poor man I heard this morning. I will not forget at the next election.

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Renegade Mechanic

10000maniacs wrote: »

I read the small print on my mortgage terms and conditions. It said if I failed to pay the monthly fee, I would be in danger of losing the property. I will take it on the chin if I can't pay. Thats the deal.
People need to take responsibility for their actions. Its a transaction. Not a donation.

Sure, and let's say the bank takes the house. All good. Except it's a nice house. Worth a bit. Mr Bank's got a mate he'd like to do a favour for.
Your nice house gets new owners on an "undisclosed deal" which is well below market rates, while you still pay for the house you've been kicked our of.
That or it goes to an ordinary family for an ordinary mortgage. So now Mr Bank is getting two mortgages for one property! Quids in!!

You going to take that on the chin?
Oh dear, rent is proving rather difficult now, considering the sizeable portion of your salary going into the remaining mortgage repayments for that nice house you don't live in any more.

Chin up, livestock

In case you haven't ascertained, my problem lies with what happen after you've been booted out of yer house. :rolleyes:

Deusexmachina

10000maniacs wrote: »

I read the small print on my mortgage terms and conditions. It said if I failed to pay the monthly fee, I would be in danger of losing the property. I will take it on the chin if I can't pay. Thats the deal.
People need to take responsibility for their actions. Its a transaction. Not a donation.

Yes, this attitude seems the norm on here. The problem is that over a 20-25 year term, there may be unforeseen circumstances in your life - illness, redundancy, marriage breakup for example. These are the risks we all face.

Therefore it is reasonable to expect some flexibility as long as each party is acting in good faith. Money lending also carries some risk (or at least should). Just look at their salaries and the big shiny glass offices - no bank is suffering.

I am not advocating people taking the piss. I have paid my mortgage on the button each month for the past 22 years. I am asking that reasonable people who are doing their best are not bullied, threatened and terrified by organizations that WE propped up when THEY went through their rough patch.

facehugger99

There's a failsafe way to stop banks repossessing your home - pay your fcuking mortgage.

This country of full of whingers trying to blame the bankers for their own reckless borrowing.

And if I hear the term debt-forgiveness being bandied about again by some bleeding heart moan-bag I'll fcuking cry - theres no such thing, it's actually called debt transfer because someone always picks up the tab.

I'm too busy paying my own way and don't have the spare cash to pay someone else's mortgage too.

amcalester

Renegade Mechanic wrote: »

Sure, and let's say the bank takes the house. All good. Except it's a nice house. Worth a bit. Mr Bank's got a mate he'd like to do a favour for.
Your nice house gets new owners on an "undisclosed deal" which is well below market rates, while you still pay for the house you've been kicked our of.
That or it goes to an ordinary family for an ordinary mortgage. So now Mr Bank is getting two mortgages for one property! Quids in!!

You going to take that on the chin?
Oh dear, rent is proving rather difficult now, considering the sizeable portion of your salary going into the remaining mortgage repayments for that nice house you don't live in any more.

Chin up, livestock

In case you haven't ascertained, my problem lies with what happen after you've been booted out of yer house. :rolleyes:

That’s not how it works.

Deusexmachina

facehugger99 wrote: »

There's a failsafe way to stop banks repossessing your home - pay your fcuking mortgage.

This country of full of whingers trying to blame the bankers for their own reckless borrowing.

And if I hear the term debt-forgiveness being bandied about again by some bleeding heart moan-bag I'll fcuking cry - theres no such thing, it's actually called debt transfer because someone always picks up the tab.

I'm too busy paying my own way and don't have the spare cash to pay someone else's mortgage too.

Heres a ****ing medal

Guy:Incognito

dark crystal wrote: »

'We' are all just one lost job or an unexpected illness/ marriage separation away from being in the same position.

Don't be so quick to assume why people are in the position they are. Hopefully you'll never find yourself in their position only to have smug strangers on the internet condescendingly sneering at your predicament.

An awful lot of people seem to have lost their jobs in the recession and not managed to get one since judging by the amount of people not paying back loans. Maybe they all got sick too? How many years with absolutely no engagement should a bank wait for it's money?

Either way, you losing your job is not the banks issue. They loan money on the basis you pay it back. If you don't, they take the house. It's a fairly simple set up.no one had any issue signing up for those terms when they didn't think the house would ever actually be under threat. You can't pick and choose which parts of a contract you want to go along with after you sign.

Snotty

Anyone hear the Newstalk piece we're they went though a few cases that the reporter had sat in court for, one of them was a lady who brough a house in 2008 and hadn't made a single repayment on the mortgage, 10 years free rent!! but the Facebook crowd are there supporting her "right" to a house

kneemos

Renegade Mechanic wrote: »

Sure, and let's say the bank takes the house. All good. Except it's a nice house. Worth a bit. Mr Bank's got a mate he'd like to do a favour for.
Your nice house gets new owners on an "undisclosed deal" which is well below market rates, while you still pay for the house you've been kicked our of.
That or it goes to an ordinary family for an ordinary mortgage. So now Mr Bank is getting two mortgages for one property! Quids in!!

You going to take that on the chin?
Oh dear, rent is proving rather difficult now, considering the sizeable portion of your salary going into the remaining mortgage repayments for that nice house you don't live in any more.

Chin up, livestock

In case you haven't ascertained, my problem lies with what happen after you've been booted out of yer house. :rolleyes:

If you could pay for the house you were kicked out of why would you be kicked out of it?

DChancer

Renegade Mechanic wrote: »

10000maniacs wrote: »

I read the small print on my mortgage terms and conditions. It said if I failed to pay the monthly fee, I would be in danger of losing the property. I will take it on the chin if I can't pay. Thats the deal.
People need to take responsibility for their actions. Its a transaction. Not a donation.

Sure, and let's say the bank takes the house. All good. Except it's a nice house. Worth a bit. Mr Bank's got a mate he'd like to do a favour for.
Your nice house gets new owners on an "undisclosed deal" which is well below market rates, while you still pay for the house you've been kicked our of.
That or it goes to an ordinary family for an ordinary mortgage. So now Mr Bank is getting two mortgages for one property! Quids in!!

You going to take that on the chin?
Oh dear, rent is proving rather difficult now, considering the sizeable portion of your salary going into the remaining mortgage repayments for that nice house you don't live in any more.

Chin up, livestock

In case you haven't ascertained, my problem lies with what happen after you've been booted out of yer house. :rolleyes:

Conspiracy theories forum is short of posters you would fit right in over there.

Deusexmachina

Snotty wrote: »

Anyone hear the Newstalk piece we're they went though a few cases that the reporter had sat in court for, one of them was a lady who brough a house in 2008 and hadn't made a single repayment on the mortgage, 10 years free rent!! but the Facebook crowd are there supporting her "right" to a house

There are a lot of cases of reasonable people doing their best to keep on track too.

[Deleted User]

I never understand why anyone expects compassion from banks. They are neither saints or sinners, just utterly amoral, like most corporations. To expect anything else is naive

Specialun

wow just wow

im shocked. how dare the bank take the gaf. she should be allowed to stay without paying. im shocked. im completely ok paying ridic interest rates to cover people who should be shipped out.

Snotty

Renegade Mechanic wrote: »

Sure, and let's say the bank takes the house. All good. Except it's a nice house. Worth a bit. Mr Bank's got a mate he'd like to do a favour for.
Your nice house gets new owners on an "undisclosed deal" which is well below market rates, while you still pay for the house you've been kicked our of.
That or it goes to an ordinary family for an ordinary mortgage. So now Mr Bank is getting two mortgages for one property! Quids in!!

You going to take that on the chin?
Oh dear, rent is proving rather difficult now, considering the sizeable portion of your salary going into the remaining mortgage repayments for that nice house you don't live in any more.

Chin up, livestock

In case you haven't ascertained, my problem lies with what happen after you've been booted out of yer house. :rolleyes:

Wow, that's just pure rubbish.

The people who call for debt forgiveness, compassion, no repossession are usually the people that pay for nothing anyway but will tell you exactly what they are "entitled" to.

Renegade Mechanic

kneemos wrote: »

If you could pay for the house you were kicked out of why would you be kicked out of it?

If you couldn't pay for the house, why chase you fir more money after taking it back?

amcalester

Renegade Mechanic wrote: »

If you couldn't pay for the house, why chase you fir more money after taking it back?

Probably because the money is still owed.

It can’t be that hard to understand.

Deusexmachina

Specialun wrote: »

wow just wow

im shocked. how dare the bank take the gaf. she should be allowed to stay without paying. im shocked. im completely ok paying ridic interest rates to cover people who should be shipped out.

Hope for your sake you always hold on to that proofreading job - otherwise you might lose your property.

10000maniacs

Renegade Mechanic wrote: »

Sure, and let's say the bank takes the house. All good. Except it's a nice house. Worth a bit. Mr Bank's got a mate he'd like to do a favour for.
Your nice house gets new owners on an "undisclosed deal" which is well below market rates, while you still pay for the house you've been kicked our of.
That or it goes to an ordinary family for an ordinary mortgage. So now Mr Bank is getting two mortgages for one property! Quids in!!

You going to take that on the chin?
Oh dear, rent is proving rather difficult now, considering the sizeable portion of your salary going into the remaining mortgage repayments for that nice house you don't live in any more.

Chin up, livestock

In case you haven't ascertained, my problem lies with what happen after you've been booted out of yer house. :rolleyes:

When you are given a mortgage, it is a huge responsibility. If you are struggling, give up your drink, fags, holidays and Sky tv. Engage with your bank immediately. Don't bury your head in the sand.
A friend of mine got a mortgage for a gorgous house in Howth,90% mortgage of €500,000. He went into arrears 5 years ago and stopped paying for two years until the sherrifs removed him and his family. Point is he could have sorted it out if he engaged with the bank.

Snotty

Deusexmachina wrote: »

There are a lot of cases of reasonable people doing their best to keep on track too.

I can't even comprehend the mentality here. They took out a loan, they cannot repay it, they are now at the END of a repossession process.
They can find somewhere else to live the same as everyone else in this country, why should the bank (i.e. me and everyone else paying the mortgage) pay for them?

Allinall

Renegade Mechanic wrote: »

If you couldn't pay for the house, why chase you fir more money after taking it back?

Because you owe it.

It’s not complicated.

Specialun

Deusexmachina wrote: »

Hope for your sake you always hold on to that proofreading job - otherwise you might lose your property.

thanks xx

why should she get a free gaf then pal? you say ex husband. work,child payments and child maintence would help out? is the hubby not fronting up? is she enagaging with the bank chief?

Renegade Mechanic

amcalester wrote: »

Probably because the money is still owed.

It can’t be that hard to understand.

It shouldn't be if you're no longer in the property. Once you're out, you're out. You're credit rating takes it's deserved hammering and that's it.
I wouldn't be able to live with it myself. I'd burn it to the bloody ground. I'll be paying for it, sure, but at least I won't be paying while someone else lives it it. Let them feck off and mortgage another kip..

Deusexmachina

Snotty wrote: »

I can't even comprehend the mentality here. They took out a loan, they cannot repay it, they are now at the END of a repossession process.
They can find somewhere else to live the same as everyone else in this country, why should the bank (i.e. me and everyone else paying the mortgage) pay for them?

You are not paying for anyone’s else’s mortgage. That’s not how in inter bank lending and mortgage finance works. The only time your pocket was pinched was when we bailed out the banks for billions.
It is possible to advocate financial responsibility and yet understand the need for compassion in some cases.

kneemos

Renegade Mechanic wrote: »

If you couldn't pay for the house, why chase you fir more money after taking it back?

The bank sells the house and either gives back any excess money they make after loans and expenses have been paid or they persue for any deficit.

Now,go ahead and make up your own shoite.

Snotty

Renegade Mechanic wrote: »

It shouldn't be if you're no longer in the property. Once you're out, you're out. You're credit rating takes it's deserved hammering and that's it.
I wouldn't be able to live with it myself. I'd burn it to the bloody ground. I'll be paying for it, sure, but at least I won't be paying while someone else lives it it. Let them feck off and mortgage another kip..

Assuming your about 12 year old?

You owe money on something, the bank will recoup money by selling it and that comes off your debt. But you think it would be better to burn it down? Actually my 12 year nephew has more brains that you.

Gimme A Pound

The whole "pay your ****ing debts" thing isn't much use to someone whose partner dies or becomes seriously ill so has to give up work permanently, or does a runner. Could happen to any of us.

Eviction is the absolute last resort though - don't mind the bullsh1t from the media. It's for "won't pay"/"won't engage" not "can't pay". If you engage with your creditors instead of sticking your head in the sand, and if you pay whatever little bit you can, you are in a much stronger position than those who adopt the bizarre "all or nothing" approach.

And it's not bullying to issue reminders for payments that you have agreed to and for a service you are still using.

It's the irresponsible media scaremongering that have a lot to answer for.

amcalester

Deusexmachina wrote: »

You are not paying for anyone’s else’s mortgage. That’s not how in inter bank lending and mortgage finance works. The only time your pocket was pinched was when we bailed out the banks for billions.
It is possible to advocate financial responsibility and yet understand the need for compassion in some cases.

People are paying via Europe’s highest mortgage rates.

Deusexmachina

amcalester wrote: »

People are paying via Europe’s highest mortgage rates.

And who is charging those rates?

Renegade Mechanic

DChancer wrote: »

Conspiracy theories forum is short of posters you would fit right in over there.

Ah right, so banks selling cheap to mates and coming after original owners for the change is a far fetched conspiracy, my mistake.

Snotty

Deusexmachina wrote: »

You are not paying for anyone’s else’s mortgage. That’s not how in inter bank lending and mortgage finance works. The only time your pocket was pinched was when we bailed out the banks for billions.
It is possible to advocate financial responsibility and yet understand the need for compassion in some cases.

Banks lend money themselves and then sell it to you at a premium. This premium covers all the banks costs, including bad debt. More bad debt, the more banks need to recoup and rates go up, pretty basic principles that the banks even explain themselves, there's no conspiracy.

amcalester

Deusexmachina wrote: »

And who is charging those rates?

The banks obviously.

Still other customers paying for the non-payers.

I worked for a bank with extremely rigid lending practices and a very low bad debt ratio, mortgage rates at the bank are considerably lower than anything available in Ireland.