negative equity

Potatoeman · 10-12-2012 08:46PM

The Aussie wrote: »

I did, without the body painting, although there were plenty of hoops and some of them flaming, but at more than 50% less than what it would have cost 5 years ago, but who would pay double for a house, fools and their money, now some fools want to share their burden.

I don’t think these people would share their profits. Capitalism on the way up and socialism on the way down. How convenient.

MadsL · 10-12-2012 08:51PM

Following the OPs plan:

1. Flood the market with cheap houses all at once
2. Depress the price of property further, driving those in NE, further into NE.
3. ????
4. Profit and miniature Irish flags for all!

physioscot · 10-02-2013 10:56PM

Hi,

I'd be very grateful if anyone could help with the following query or at least put me in the right direction.

My girlfriend bought her apartment in 2006 (Mary) at the height of the celtic tiger. Because the mortgage was so high, the bank insisted on a 2nd person (Alice) also being on the policy. Now the property is 1/3rd of its value. Mary has always lived there and Alice has never, so Alice has not paid anything into the mortgage at all, she just helped Mary get the mortgage but all letters are addressed FTAO Mary & Alice. Alice is from the Far East (now Irish passport) so is planning to retire in 7 years and move back there with her pension.

Mary is thinking about declaring bankruptcy by finding a job in the UK as a nurse first and contacting a company to do so.

Has anyone else had this experience or knows of it when 2 people are on the mortgage policy? What advice can you give. Can Mary declare bankruptcy without the bank going after Alice. She would if she could. Talked to Irish lawyer but grey area as to what can be done in the UK!!

thanks

kenmc · 10-02-2013 10:59PM

Alice? Alice? who dafuk is Alice?

Pottler · 10-02-2013 11:30PM

Anyone wrote: »

Who is going to buy half completed houses with no amenities stuck in the arse end of nowhere?

You fcuk right off - I like it this way. Who are you to question my choice of home???? And my misus picked the colours, you callin my missus tasteless??

books4sale · 10-02-2013 11:30PM

physioscot wrote: »

Hi,

My girlfriend bought her apartment in 2006 (Mary) at the height of the celtic tiger. Because the mortgage was so high, the bank insisted on a 2nd person (Alice) also being on the policy. Now the property is 1/3rd of its value. Mary has always lived there and Alice has never, so Alice has not paid anything into the mortgage at all, she just helped Mary get the mortgage but all letters are addressed FTAO Mary & Alice. Alice is from the Far East (now Irish passport) so is planning to retire in 7 years and move back there with her pension.

Mary is thinking about declaring bankruptcy by finding a job in the UK as a nurse first and contacting a company to do so.

Has anyone else had this experience or knows of it when 2 people are on the mortgage policy? What advice can you give. Can Mary declare bankruptcy without the bank going after Alice. She would if she could. Talked to Irish lawyer but grey area as to what can be done in the UK!!

thanks

If this is a serious query then your in the wrong place for serious answers. I would try starting a new thread in the 'accomodation and property' section under the social forum ....or alternatively under Banking maybe.

Pottler · 10-02-2013 11:31PM

kenmc wrote: »

Alice? Alice? who dafuk is Alice?

Alice is desperatly seeking susan, or mary, or eddie hobbs, or someone. She's been moved on more times than a Bob Geldof tribute band.

Praetorian Saighdiuir · 10-02-2013 11:32PM

Mary can come live with me.....unless she is Hairy Mary.

Pottler · 10-02-2013 11:38PM

Stealth Recce wrote: »

Mary can come live with me.....unless she is Hairy Mary.

Mary has baggage, apparently.:(

Praetorian Saighdiuir · 10-02-2013 11:39PM

Pottler wrote: »

Mary has baggage, apparently.:(

Fcuk that then. Il take Alice, she has a passport now. Maybe we can go places.

I better ask Scott the physio!

mitosis · 10-02-2013 11:52PM

physioscot wrote: »

Hi,

I'd be very grateful if anyone could help with the following query or at least put me in the right direction.

My girlfriend bought her apartment in 2006 (Mary) at the height of the celtic tiger. Because the mortgage was so high, the bank insisted on a 2nd person (Alice) also being on the policy. Now the property is 1/3rd of its value. Mary has always lived there and Alice has never, so Alice has not paid anything into the mortgage at all, she just helped Mary get the mortgage but all letters are addressed FTAO Mary & Alice. Alice is from the Far East (now Irish passport) so is planning to retire in 7 years and move back there with her pension.

Mary is thinking about declaring bankruptcy by finding a job in the UK as a nurse first and contacting a company to do so.

Has anyone else had this experience or knows of it when 2 people are on the mortgage policy? What advice can you give. Can Mary declare bankruptcy without the bank going after Alice. She would if she could. Talked to Irish lawyer but grey area as to what can be done in the UK!!

thanks

Both are responsible together and separately for the mortgage, that is, if one defaults the other still owes the full amount.

Pottler · 11-02-2013 12:01AM

And the big lesson her, boys and girls is not "who the fcuk is Alice", but "How fcuked is Alice".

Which is sad, because I have grown to like her over the last few of her moves, she's a whiskers away from retiring after a lifetime of wiping other peoples bums and now that big shyte fate has stepped in and pooed all over her lawn,. Moral is, let Mary buy her own gaff in future.

negative equity

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