Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Pensioners evicted from their home today!!

1…3436383940

Comments

  • #1052
    mikemac1
    Closed Accounts Posts: 12,395 ✭✭✭✭mikemac1


    Maybe Pat Kenny can recommend the legal team he used for his land dispute :cool:


  • #1053
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    oppenheimer1 wrote: »
    Possibly the most interesting Irish story all week, and not even a mention of it in the Sunday Independent today.

    What agenda do they have?

    banks lending money they should not have lent is old news


  • #1054
    The Waltzing Consumer
    Registered Users, Registered Users 2 Posts: 1,949 ✭✭✭The Waltzing Consumer


    true wrote: »
    not if the loans on the 20 properties greatly exceed their value, which is likely.

    Well then they lose their properties as they were collateral.

    This is a very obvious agreement in getting a mortgage. Are you suggesting that a couple who have owned many many properties in Ireland and abroad are too stupid to understand this?

    I buy a house, I dont pay mortgage for over two years, I lose house as it is repossessed as outlined in the agreement.

    Am I missing something here? By putting all the blame on the banks, you are simply giving the impression you think the couple were too stupid to understand this agreement.


  • #1055
    mikemac1
    Closed Accounts Posts: 12,395 ✭✭✭✭mikemac1


    oppenheimer1 wrote: »
    Possibly the most interesting Irish story all week, and not even a mention of it in the Sunday Independent today.

    What agenda do they have?

    Yes it is :)

    http://www.independent.ie/national-news/evicted-couple-upset-at-ministers-comments-3088288.html

    There are upset at the blunt talk from the Minister from Limerick

    Actually I don't have the actual paper so I don't know if all internet stories get printed


  • #1056
    battle_hardend
    Closed Accounts Posts: 208 ✭✭battle_hardend


    true wrote: »
    the fact that the banks are losing billions show that reckless lending has cost the banks a fortune. No other banks would give a couple at retirement age a mortgage on a house for 3 million or whatever.

    why not , they had tonnes of collaterol , age is irrelevant when you have that many assetts , you have no inherent right to hold on to twenty properties , theese people have no problem , they can sell as many rental properties as nesscesery and pay off what they owe on kiliney , it may be too late for that due to bank policy , they should have done it two years ago when the housing market was in better shape , they were waiting for a rebound before they offloaded some of thier rental properties , that much is obvious


  • Advertisement
  • #1057
    battle_hardend
    Closed Accounts Posts: 208 ✭✭battle_hardend


    true wrote: »
    not if the loans on the 20 properties greatly exceed their value, which is likely.


    some of the properties were bought in 1996 so they would still be worth more than the purchase price


  • #1058
    mikemac1
    Closed Accounts Posts: 12,395 ✭✭✭✭mikemac1


    They are waiting for debt forgiveness

    Mr Kelly on the Pat Kenny show was very enthusiastic over debt forgiveness and I think he mentioned something about Brussels

    Though debt forgiveness while good in some situations also means people who could never afford or chose not to buy a house end up paying for those who did.
    Like Mr Kelly's tenants

    Writing off debt isn't some magical solution, somebody always pays

    And if I'm paying for landlords debts the least they can do is let me get a room rent free in that house :D
    They don't need all five bedrooms


  • #1059
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    mikemac1 wrote: »
    somebody always pays

    you can bet your bottom dollar it will not be the banker who unscroupously sold the mortgage to the pensioners, and collected his fat bonus for the deed. He still got (and gets) his fat salary and pension, despite f******g up the whole financial system.


  • #1060
    mikemac1
    Closed Accounts Posts: 12,395 ✭✭✭✭mikemac1


    banker is a ridiculous term and includes everyone from branch staff to Seany Fitz

    Don't like it, that's all


  • #1061
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    battle_hardend wrote: »
    some of the properties were bought in 1996 so they would still be worth more than the purchase price

    and presumably some were bought in more recent times.

    besides, I know of some proiperty sold recently for less than its 1996 price


  • Advertisement
  • #1062
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    true wrote: »
    not if the loans on the 20 properties greatly exceed their value, which is likely.
    It is also quite unlikely that that was the case when the loan was granted.


  • #1063
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    mikemac1 wrote: »
    They are waiting for debt forgiveness

    Mr Kelly on the Pat Kenny show was very enthusiastic over debt forgiveness and I think he mentioned something about Brussels
    Pat Kenny is a huge fan of debt forgiveness. He doesn't even pretend to be neutral when the subject is discussed.


  • #1064
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    mikemac1 wrote: »
    banker is a ridiculous term and includes everyone from branch staff to Seany Fitz

    Don't like it, that's all

    ok, lets just call the unscroupoulous individual who sold a multi-million euro mortgage to pensioners ( and helped f**k up the country ) a wbanker.

    People call them that behind their backs anyway. I'm not talking about counter staff, I'm talking about those individuals who made the decesions to made unprudent loans with money they themselves borrowed abroad.


  • #1065
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    Monty Burnz wrote: »
    It is also quite unlikely that that was the case when the loan was granted.

    the banks and regulator were supposed to be experts. They should have known that by selling multi million euro mortgages to pensioners the system would come crashing down, as it did.


  • #1066
    oppenheimer1
    Closed Accounts Posts: 6,084 ✭✭✭oppenheimer1


    mikemac1 wrote: »
    Yes it is :)

    http://www.independent.ie/national-news/evicted-couple-upset-at-ministers-comments-3088288.html

    There are upset at the blunt talk from the Minister from Limerick

    Actually I don't have the actual paper so I don't know if all internet stories get printed

    Didn't see it in the printed version. I could be wrong of course and missed it.


  • #1067
    thebaz
    Registered Users, Registered Users 2 Posts: 13,846 ✭✭✭✭thebaz


    true wrote: »
    ok, lets just call the unscroupoulous individual who sold a multi-million euro mortgage to pensioners ( and helped f**k up the country )

    Rich pensioners at that , well capable of making some form of payment on the loans that they took down , but are just too mean to do so - the bank they owe the money to is us, the people - zero sympathy for these greedy two faced toffs


  • #1068
    The Waltzing Consumer
    Registered Users, Registered Users 2 Posts: 1,949 ✭✭✭The Waltzing Consumer


    true wrote: »
    ok, lets just call the unscroupoulous individual who sold a multi-million euro mortgage to pensioners ( and helped f**k up the country ) a wbanker.

    People call them that behind their backs anyway. I'm not talking about counter staff, I'm talking about those individuals who made the decesions to made unprudent loans with money they themselves borrowed abroad.

    I see you have not answered a lot of questions but rant on regardless.

    Tell me, do you think this old couple are stupid? Do you think they did not understand the idea of using their properties as collateral? Are you accusing the banks of misleading this couple?

    I have to point out this couple don't seem to be giving out about the loans they received, they are more trying to rant about how the eviction occurred and comparing themselves to famine Irish. So why you are giving out about lending when the couple themselves don't seem to think that is the problem?


  • #1069
    mbur
    Registered Users, Registered Users 2 Posts: 521 ✭✭✭mbur


    true wrote: »
    the banks and regulator were supposed to be experts. They should have known that by selling multi million euro mortgages to pensioners the system would come crashing down, as it did.

    There is plenty of sh** to go around alright. To read some of the comments here you'd think the property bubble was all Kelly's fault.


  • #1070
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    true wrote: »
    the banks and regulator were supposed to be experts. They should have known that by selling multi million euro mortgages to pensioners the system would come crashing down, as it did.
    Yup, they f*cked up. Nobody is more angry about the regulator - that f*cking clown, Patrick Neary - than I am.

    What does this have to do with reckless borrowing?


  • #1071
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    The Waltzing Consumer wrote: »
    Tell me, do you think this old couple are stupid?
    yes, they would have been better off keeping the money from the sale of their business in Germany out of the country instead of investing in property here, given there was no regulation.
    The Waltzing Consumer wrote: »
    Do you think they did not understand the idea of using their properties as collateral?
    ask them that
    The Waltzing Consumer wrote: »
    Are you accusing the banks of misleading this couple?
    I am accusing the bank in question of making a poor lending decision, in selling a multio-million euro mortgage to a couple at retirement age. What were they thinking?

    The Waltzing Consumer wrote: »
    So why you are giving out about lending when the couple themselves don't seem to think that is the problem?

    Because if the banks behaved responsibly we would not be in the mess we are in. Nobody from the banks or regulators office or central bank or indeed government has paid yet....indeed they got their bonuses and fat pensions for wrecking the system. You are not one of them by any chance?


  • Advertisement
  • #1072
    lividduck
    Closed Accounts Posts: 1,250 ✭✭✭lividduck


    true wrote: »
    yes, they would have been better off keeping the money from the sale of their business in Germany out of the country instead of investing in property here, given there was no regulation.


    ask them that


    I am accusing the bank in question of making a poor lending decision, in selling a multio-million euro mortgage to a couple at retirement age. What were they thinking?




    Because if the banks behaved responsibly we would not be in the mess we are in. Nobody from the banks or regulators office or central bank or indeed government has paid yet....indeed they got their bonuses and fat pensions for wrecking the system. You are not one of them by any chance?
    Now now Mr Kelly calm down:D


  • #1073
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    true wrote: »
    I am accusing the bank in question of making a poor lending decision, in selling a multio-million euro mortgage to a couple at retirement age. What were they thinking?
    They were thinking "either they pay us back and we make a margin on the loan, or they don't pay us back and we get the money back by repossessing their house. This is low-risk lending for us."

    And they were right.


  • #1074
    The Waltzing Consumer
    Registered Users, Registered Users 2 Posts: 1,949 ✭✭✭The Waltzing Consumer


    true wrote: »
    You are not one of them by any chance?

    Yes, I am the regulator, government and bank manager all rolled into one and I sleep on a bed of bonuses.

    Stop babying this couple, they are adults, so are you I assume, so take some responsibility and cop on.


  • #1075
    true
    Banned (with Prison Access) Posts: 1,325 ✭✭✭true


    Monty Burnz wrote: »
    They were thinking "either they pay us back and we make a margin on the loan, or they don't pay us back and we get the money back by repossessing their house. This is low-risk lending for us."

    it was not low risk, such lending decisions inflated the bubble and caused the meltdown in the financial and property markets.:D


  • #1076
    The Waltzing Consumer
    Registered Users, Registered Users 2 Posts: 1,949 ✭✭✭The Waltzing Consumer


    true wrote: »
    it was not low risk, such lending decisions inflated the bubble and caused the meltdown in the financial and property markets.:D

    It's like you watched the documentary Inside Job and take all your points from that. Are you watching it right now and replying with points from that film?

    A couple with at least 21 assets acting as collateral is not high risk, it is very low risk.


  • #1077
    mbur
    Registered Users, Registered Users 2 Posts: 521 ✭✭✭mbur


    Monty Burnz wrote: »
    Yup, they f*cked up. Nobody is more angry about the regulator - that f*cking clown, Patrick Neary - than I am.

    What does this have to do with reckless borrowing?
    It was never reckless. Neary was just what the government wanted - useless.

    So flies like Kelly were drawn into the trap. A good day's work for some one.


  • #1078
    battle_hardend
    Closed Accounts Posts: 208 ✭✭battle_hardend


    true wrote: »
    and presumably some were bought in more recent times.

    besides, I know of some proiperty sold recently for less than its 1996 price

    not in quality locations in dublin


  • #1079
    ejmaztec
    Registered Users, Registered Users 2 Posts: 24,266 ✭✭✭✭ejmaztec


    Monty Burnz wrote: »
    If I go into a motorbike shop, ask them for a bike, pay for it, crash it and hurt myself - is that the fault of the bike shop?

    If I go into a bank, ask them for a loan, sign the forms, take the cash, buy an asset and get into financial trouble - is that the fault of the bank?

    :confused:

    I'm sure that if some senior deposit-holder customers at the bank sat in at the loan interviews, the situation would have been completely different.

    Loan Manager "Of course you can have the 100% loan, sign here".

    Deposit-holder "Hang on a minute, you're not pissing my money away on this old guy, I'll never get it back, no-one's signing anything, fuck off!"


  • #1080
    Monty Burnz
    Closed Accounts Posts: 12,455 ✭✭✭✭Monty Burnz


    true wrote: »
    it was not low risk, such lending decisions inflated the bubble and caused the meltdown in the financial and property markets.:D
    So now you are (deliberately?) confusing the big picture and individual decisions? Were you issuing warnings about the property bubble and predicting its collapse before it happened? If you couldn't see the future, how did you expect others to do so?

    (Well, I thought it was obvious at the time of the bubble but got laughed out of it, but that's another story)


  • Advertisement
  • #1081
    battle_hardend
    Closed Accounts Posts: 208 ✭✭battle_hardend


    true wrote: »
    ok, lets just call the unscroupoulous individual who sold a multi-million euro mortgage to pensioners ( and helped f**k up the country ) a wbanker.

    People call them that behind their backs anyway. I'm not talking about counter staff, I'm talking about those individuals who made the decesions to made unprudent loans with money they themselves borrowed abroad.

    pensioners , pensioners , pensioners , you make sure to include that term and all the emotional connotations it carries in every post


Advertisement