People deciding they're too smart to pay their mortgage?

Mango Joe · 24-01-2020 02:20PM #1

Just wondering how common this is - Was reading on another Irish forum about a woman who started a thread basically saying that her brother-in-law or someone told her she was some fool to be paying her mortgage and she should stop paying it and wait until the bank wrote down some portion of it in some sort of payment settlement/deal.

Even worse though, she had inherited a large sum of money from a deceased relative and she was asking if the bank could find out about it and expect she use some of this money to pay her debts, for the house she's living in every day....

Some people.

MMXX · 24-01-2020 04:06PM

It would be my opinion that both the banks, and the sort of people you have outlined above - are sc*m. I don't like the word sc*m, nor do I like using it - but that's the word that's coming to me, so that's the word I'll use. Nobody forced you to take out a mortgage, have some responsibility - and stick to your end of agreement. That is what is right. You wanted a house, you didn't have the money to buy a house, you borrowed the money to buy the house, and now you don't want to pay it back? But you want to live in the house?

Leg End Reject · 24-01-2020 04:13PM

Banks should be allowed repossess as per the legal agreement signed at drawdown. I'd imagine some would then miraculously be able to pay.

Lord Derpington · 24-01-2020 04:19PM

MMXX wrote: »

It would be my opinion that both the banks, and the sort of people you have outlined above - are sc*m

Not following why the banks are scum for offering you a mortgage in a legal contract then expecting that it is honored.

Trigger Happy · 24-01-2020 04:20PM

Leg End Reject wrote: »

Banks should be allowed repossess as per the legal agreement signed at drawdown. I'd imagine some would then miraculously be able to pay.

Completely agree. People give out that interest rates in ireland are higher than in europe and the key driver of that is the risk of non-payment and non-recovery of the asset.
If we want european rates of interest here then the risk of default needs to be brought back to european levels and the debt holder must have a fighting chance of debt recovery.
But we have a long standing colonial era fear of evictions. That's understandable. But it comes with a price.

petes · 24-01-2020 04:20PM

Lord Derpington wrote: »

Not following why the banks are scum for offering you a mortgage in a legal contract then expecting that it is honored.

Que reply with bailout etc.

MMXX · 24-01-2020 04:28PM

Lord Derpington wrote: »

Not following why the banks are scum for offering you a mortgage in a legal contract then expecting that it is honored.

They're not scum for that. They're scum for the all the fraud, the banking crisis, the bailouts - all that craic. But not for expecting to be repaid money lent in good faith.

petes wrote: »

Que reply with bailout etc.

See above.

MMXX · 24-01-2020 04:30PM

Two things can be scum at the one time, it doesn't have to be one or the other.

Mad_maxx · 24-01-2020 04:56PM

I do admire the sheer chutzpah it takes to go rogue on either a mortgage or a tenancy

I suppose however there is no real cultural shame in this country for those who do

It's theft, plain and simple

TuringBot47 · 24-01-2020 05:00PM

Mango Joe wrote: »

People deciding they're too smart to pay their mortgage?

It's not very smart if they expect their credit rating to be intact for the rest of their lives.

corner of hells · 24-01-2020 05:05PM

petes wrote: »

Que reply with bailout etc.

Wha....

Pinch Flat · 24-01-2020 05:07PM

corner of hells wrote: »

Wha....

A lot of irish people struggle with the concept of personal responsibility. For a sizable minority, this extends to paying back the money they borrowed on a mortgage as well

corner of hells · 24-01-2020 05:10PM

Pinch Flat wrote: »

A lot of irish people struggle with the concept of peraonal responsibility. For a sizable minority, this extwbds to paying back the money they borrowed on a mortgage as well

It's the que that caught me.

Lonesomerhodes · 24-01-2020 05:33PM

I've met a few 'truther' or freeman types haven't paid their mortgage since God was a child and still living in the house.

One guy hasn't given the bank a cent in 3 years and now gives advice to those who are in arrears etc now at small little talks.

Make of it what you will but people have been pointing out for years mortgages don't even lend money it's your signature that creates it.

Mort gage= Death grip in latin (name is there for those to see it's a scam)

World's a stage!.

Potential-Monke · 25-01-2020 03:14AM

I believe if someone hasn't paid anything in 6 months, the house should be immediately repossessed. No courts, no years of legal battles, it should be 'No payment in 6 months, out you go'. I absolutely hated those people who expected to be able to keep their houses and not pay for it. Ye are the reason my mortgage repayments sky rocketed. Ye are the reason I'm left with negative equity after having to sell my house because I couldn't afford the repayments any more. Well, ye and a few others, mainly the banks.

Kermit.de.frog · 25-01-2020 03:18AM

MMXX wrote: »

Two things can be scum at the one time, it doesn't have to be one or the other.

How can the banks be scum in this case when the borrower signed a contract?

Let's make it easier and assume the borrower has a pair of eyeballs in their head and preferably at least a half functioning brain.

Pay your debts. Dispossess all who refuse to pay their mortgages.

This is what functioning societies do so the rest of society does not pick up the tab.

NIMAN · 25-01-2020 03:20AM

People like these chancers, who owed over €1mill in arrears, yet still have the gall to try to stop the bank repossessing.

https://www.independent.ie/irish-news/courts/couple-who-owe-over-1m-in-mortgage-arrears-lose-appeal-against-repossession-of-2m-dublin-home-38893015.html

Potential-Monke · 25-01-2020 03:27AM

There's the problem. The order was issued in April 2019 and they still can't reposses it. Hopefully they can now. Scum those people are. As far as I can tell, they haven't paid anything substantial (or at all, unsure) since they went from 'Interest Only' to proper payments. Scum.

Raconteuse · 25-01-2020 03:33AM

Potential-Monke wrote: »

I believe if someone hasn't paid anything in 6 months, the house should be immediately repossessed. No courts, no years of legal battles, it should be 'No payment in 6 months, out you go'. I absolutely hated those people who expected to be able to keep their houses and not pay for it. Ye are the reason my mortgage repayments sky rocketed. Ye are the reason I'm left with negative equity after having to sell my house because I couldn't afford the repayments any more. Well, ye and a few others, mainly the banks.

There'd be protests aplenty at the injustice of it all - and endorsement of violence against the bailiffs. It's apparently cruel and heartless to deprive people of a service that they pay nothing for (despite agreeing to pay). Six months is maybe a bit tight though.

Potential-Monke · 25-01-2020 03:41AM

Nah, it's not for non-payment. If they're trying to pay, then have talks, and I don't mean €20 a week or whatever, paying as much as possible is ok for a while until sorted. The 6 months should be for people who just won't pay anything halfway decent.

Kermit.de.frog · 25-01-2020 03:55AM

There is a canyon of difference between those who can't pay and those who won't.

Anyone who can pay but won't because they expect a write down courtesy of the Irish public should be put out on their ear.

Raconteuse · 25-01-2020 04:00AM

Potential-Monke wrote: »

Nah, it's not for non-payment. If they're trying to pay, then have talks, and I don't mean €20 a week or whatever, paying as much as possible is ok for a while until sorted. The 6 months should be for people who just won't pay anything halfway decent.

Even those who pay very little could still be doing their best (but they need to set up a formal plan). Those who pay absolutely nothing though are the won't pays.

MMXX · 25-01-2020 12:55PM

Kermit.de.frog wrote: »

How can the banks be scum in this case when the borrower signed a contract?

The banks are not scum in 'this case' that you - and I, if you had you cared to read my post, have already outlined - they're scum for other reasons...

You know... the Ansbacher scandal, the National Irish Bank scandal, the tracker mortgage scandal, the Anglo Irish Bank scandal, the fraud - the corruption, the criminality - the greed.

If not scum - then what? What word would you like me to use?

MMXX · 25-01-2020 01:14PM

Kermit.de.frog wrote: »

How can the banks be scum in this case when the borrower signed a contract?

MMXX wrote: »

The banks are not scum in 'this case' that you - and I, if you had you cared to read my post, have already outlined - they're scum for other reasons...

You know... the Ansbacher scandal, the National Irish Bank scandal, the tracker mortgage scandal, the Anglo Irish Bank scandal, the fraud - the corruption, the criminality - the greed.

If not scum - then what? What word would you like me to use?

I'm getting hung up on the word scum here, it's not important. What's important is that two things can be scum at the same time - that's what you quoted, and that's what's important.

The banks are, generally scum. But not for expecting to be re-payed, not for that. Just for all the scandals, corruption, criminality, fraud - greed.

The people that won't pay their debts, but can - they're scum too.

Too things can be scum at the same time.

Truce?

Jinglejangle69 · 25-01-2020 01:29PM

Potential-Monke wrote: »

I believe if someone hasn't paid anything in 6 months, the house should be immediately repossessed. No courts, no years of legal battles, it should be 'No payment in 6 months, out you go'. I absolutely hated those people who expected to be able to keep their houses and not pay for it. Ye are the reason my mortgage repayments sky rocketed. Ye are the reason I'm left with negative equity after having to sell my house because I couldn't afford the repayments any more. Well, ye and a few others, mainly the banks.

Can you imagine the left wing media and Richard Boyd Barrett?

People deciding they're too smart to pay their mortgage?

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