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Has anyone in difficulty with mortgage payments tried renegotiating their mortgage?

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  • 22-03-2011 4:19pm
    #1
    OnlyWayIsUp
    Registered Users Posts: 222 ✭✭


    Hi,

    Just wondering if anyone out there, who is finding it difficult to keep up with payments has contacted the bank, and what has been the attitude of the bank?

    I'm not looking for advice, I'm just wondering if anyone has managed to come to a deal with the bank to make their repayments more manageable? If you have managed to renegotiate by what means did they do it? Did they make the mortgage longer? Did they fix the repayments at a certain level?

    Thanks.


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    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    you only have to read any newspaper article onthe sunject to see the numbers of people who have "restructured" their mortgages are significant.

    were talking tens of thousands of people that have done it succesfully.


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    #3
    OnlyWayIsUp
    Registered Users Posts: 222 ✭✭OnlyWayIsUp


    D3PO wrote: »
    you only have to read any newspaper article onthe sunject to see the numbers of people who have "restructured" their mortgages are significant.

    were talking tens of thousands of people that have done it succesfully.

    Great - well even that gives me a bit of relief.

    Would love to hear the practicalities of what people actually agreed with the banks. Obviously some folk mightn't want to "go public" but if you'd like to share or if you have a "friend" ;) who'd like to share then it would be good to hear from you.

    Thanks.


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    #4
    phormium
    Registered Users Posts: 3,293 ✭✭✭phormium


    http://www.askaboutmoney.com/showthread.php?t=134128


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    #5
    OnlyWayIsUp
    Registered Users Posts: 222 ✭✭OnlyWayIsUp


    phormium wrote: »
    http://www.askaboutmoney.com/showthread.php?t=134128

    Thanks for that - seems to be much less people than I would have thought availing of this.

    It seems mostly anecdotal evidence suggesting that people are doing deals with banks rather than hard fast evidence, am I wrong?


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    #6
    Treehouse72
    Registered Users Posts: 1,003 ✭✭✭Treehouse72


    About 60,000 people have entered into restructuring arrangements with their banks, in addition to some 45,000 who are already in arrears of 90+ days. Whether one considers the latter group as having "renegotiated" their mortgages is, I suppose, debatable. One must also consider a third category, which is those in arrears of less than 90 days, who are not recorded in the above figures. Again, some percentage of those will be in negotiations with their banks, some will be planning on defaulting etc.

    Source:
    http://www.irishtimes.com/newspaper/ireland/2011/0301/1224291080545.html


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    #7
    OnlyWayIsUp
    Registered Users Posts: 222 ✭✭OnlyWayIsUp


    Treehouse72 wrote: »
    About 60,000 people have entered into restructuring arrangements with their banks, in addition to some 45,000 who are already in arrears of 90+ days. Whether one considers the latter group as having "renegotiated" their mortgages is, I suppose, debatable. One must also consider a third category, which is those in arrears of less than 90 days, who are not recorded in the above figures. Again, some percentage of those will be in negotiations with their banks, some will be planning on defaulting etc.

    Source:
    http://www.irishtimes.com/newspaper/ireland/2011/0301/1224291080545.html

    That's a lot of people alright but would like to actually hear from someone who has done it.


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