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
Hi all,
Vanilla are planning an update to the site on April 24th (next Wednesday). It is a major PHP8 update which is expected to boost performance across the site. The site will be down from 7pm and it is expected to take about an hour to complete. We appreciate your patience during the update.
Thanks all.

The luck of the draw verses choices

Options
  • 30-12-2019 7:06pm
    #1
    mariaalice
    Registered Users Posts: 12,363 ✭✭✭✭


    This is after reading the journal.ie how I spend my money section.

    Although I do think the mortgage market is different now and won't produce the same problems that emerged after the downturn, notwithstanding that:

    If someone manages to get a mortgage despite having a paddy power habit and a subscription to racing TV and other red flags should they be treated differently than someone who because of illness or other external life circumstances have difficulties paying their mortgage?

    In other words, are some in mortgage difficulties more morally deserving of help from a financial institution and the state than other?


Comments

  • Options
    #2
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    mariaalice wrote: »
    This is after reading the journal.ie how I spend my money section.

    Although I do think the mortgage market is different now and won't produce the same problems that emerged after the downturn, notwithstanding that:

    If someone manages to get a mortgage despite having a paddy power habit and a subscription to racing TV and other red flags should they be treated differently than someone who because of illness or other external life circumstances have difficulties paying their mortgage?

    In other words, are some in mortgage difficulties more morally deserving of help from a financial institution and the state than other?


    Your an adult you know the risks and sign with full knowledge of not paying. Ireland is full of children that have been given mortgages if you look at the cases for repossession that go through the courts... "I didn't know what I was signing " " you have no right to take my home " "I haven't paid a cent for 10 years but I paid last month therefore I have the right to remain in my home" etc etc... its pathetic. Banking is a business of the government want to bank role delinquent borrowers then so be it but the banks should be make suffer losses because of politic pandering. We all pay for the people who do pay one way or another. Interest rates are among the highest in Europe and so they should be the law is a joke in this country. So in short you take the loan you abide by the terms of that loan no matter what.


  • Options
    #3
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,465 Mod ✭✭✭✭johnnyskeleton


    Perhaps we need to move away from the idea that someone who buys with a mortgage is in some kind of special category of human, and the language of "taking aaay their home".

    I was renting an apartment for ages, always paid the rent on time, never caused problems etc, until one day the landlord wanted it back to house his son. I had done thing wrong yet lost my "home". However, it was perfectly in the rules of the game and everyone knew it could happen.

    Everyone who signs a mortgage is told that if they dont keep up payments the bank will seek possession. It doesnt really matter how morally culpable they are or not, if they cant pay they lose the house and it should be that simple.

    A responsible person will get life insurance and mortgage payment protection when they take out a mortgage. So really they shouldnt be in the position of being unable to keep up repayments.

    However, at the end of the day it doesnt matter. Either you can repay the money and keep the house, or cant and lose it.

    Im all in favour of sympathy when it comes to any residual debt e.g. if a house nets 300k after costs of sale but the mortgage is 350k, Im all in favour of the bank writing off that 50k.

    But no one should get a free house, no matter how sympathetic their story is.

    I say this because there is a very sympathetic and very silent group of people out there who would love to buy the house and can make the repayments


  • Options
    #4
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    People gaming the system have to be called out earlier.. staying in a property for months and years on end not paying is not on. That goes for rent and mortgage payments .


  • Options
    #5
    Wesser
    Registered Users Posts: 1,813 ✭✭✭Wesser


    mariaalice wrote: »
    This is after reading the journal.ie how I spend my money section.

    Although I do think the mortgage market is different now and won't produce the same problems that emerged after the downturn, notwithstanding that:

    If someone manages to get a mortgage despite having a paddy power habit and a subscription to racing TV and other red flags should they be treated differently than someone who because of illness or other external life circumstances have difficulties paying their mortgage?

    In other words, are some in mortgage difficulties more morally deserving of help from a financial institution and the state than other?

    yes they are. however it gets complicated.

    life is not black and white. its grey.

    might be sick..... caused by smoking

    might be injured seriously... trying to keep fit / while out cycling

    might have a gambling problem... due to some deep seated psychological issue.


Advertisement