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12-03-2019, 12:14   #61
beauf
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I don't know enough to make a moral judgement on any of this. But we don't have all the facts. I'm sure some accountant somewhere worked it out so it made sense.

Someone worked out that the house would get more than the debt that was bought from the bank. So they might have made money on it and the bank wrote off the difference.

Last edited by beauf; 12-03-2019 at 12:18.
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12-03-2019, 23:03   #62
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Someone worked out that the house would get more than the debt that was bought from the bank. So they might have made money on it and the bank wrote off the difference.
Someone lost their shirt somewhere and we all know who picked up the tab
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12-03-2019, 23:28   #63
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If its the bank I'm sure they made it back many times over with something else.

Many people have gone bankrupt here or in a England, written off their debts and come back to start over.
I don't get the faux horror at a debt being written off, or down. Theres been many high profile cases previously.

I am surprised that institutions can give out very risky high loans, repeatedly but don't get any criticism, or attention from regulatory bodies at their business practises. We seem to be ok with that.
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12-07-2019, 17:47   #64
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https://www.breakingnews.ie/ireland/...me-936574.html

Looks like this slippery couple have still not left the home they are refusing to pay for. I think we all know they will never be sent to jail for this. Maybe in other countries but not in a spineless country like Ireland where you can do what you want by tying the system up in knots.

It's a shame because it's exactly what the Irish property market needs. To show there are consequences if you don't pay back a mortgage you agreed to.
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12-07-2019, 17:58   #65
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Do the remaining debts and legal costs after the property is eventually sold, which we written off, now be back on the table?
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12-07-2019, 18:01   #66
Spanish Eyes
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I wonder if they are entitled to Free Legal Aid. All that legal advice and representation must be costing a pretty penny if not.

I am sure there are many similar cases out there. Many.
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12-07-2019, 18:45   #67
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"looney left"

Christ almighty.
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12-07-2019, 19:00   #68
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This is so wrong and would only ever happen in Ireland
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12-07-2019, 19:14   #69
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Well they may have not paid their mortgage but from reading that article, they have had no real income, his restaurant business is gone, she is not presenting any more and they have 4 kids to look after.

I'd say it was a case of the fund deciding the only way they will get anything out of this is to let them walk away. They might have bought the €1.2 million debt for 40% of its value and even after legal fees the fund could come out even the way the Irish property market is going.

That €800k house could be fixed up for another €100k and sold for €1million plus in a few months or early next year.

Whatever happens, the fund will come out on top and that couples credit rating will be shot to bits. Even with supposed €345k they could have saved from not paying a mortgage, it's unlikely they will be able to afford to buy anything in Dublin and getting a mortgage is out of the question after the publicity this has got.
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12-07-2019, 19:48   #70
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it's unlikely they will be able to afford to buy anything in Dublin and getting a mortgage is out of the question after the publicity this has got.
They don’t need to live in Dublin if they have no jobs. The can move to Cavan or Donegal or somewhere else and live within their means. She can work in a shop and So can he, or whatever. The rest of us pay our way and don’t expect someone else to pick up the tab.
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12-07-2019, 20:15   #71
Spanish Eyes
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They don’t need to live in Dublin if they have no jobs. The can move to Cavan or Donegal or somewhere else and live within their means. She can work in a shop and So can he, or whatever. The rest of us pay our way and don’t expect someone else to pick up the tab.
They will qualify for HAP now, and can source their own property in the area of their choice in DCC area surely?
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12-07-2019, 20:29   #72
GGTrek
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They will qualify for HAP now, and can source their own property in the area of their choice in DCC area surely?
Good luck with finding a crazy enough landlord in Dublin that is willing to rent to this couple who is the definition of arrears and overholding.
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12-07-2019, 20:31   #73
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Oopsie doopsie dooo

https://jrnl.ie/4722772

I for one, hope they get banged up. They are criminals they have stolen 300+k come on like.
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12-07-2019, 20:41   #74
Spanish Eyes
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Operators like this family are the ones we know about and are named. There are many others out there doing exactly the same thing, but media won't bother to report on them because they are not "famous".
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12-07-2019, 20:43   #75
Spanish Eyes
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Good luck with finding a crazy enough landlord in Dublin that is willing to rent to this couple who is the definition of arrears and overholding.
True, but they might be put up in a hotel, and eventually be given social housing. 4 kids will help their cause I reckon.

Look, we don't know what will happen, but they have hard necks anyway. And they are not alone either.
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