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Buy house, don't pay mortgage, live rent-free for 9 years. MOD WARNING POST #268

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    #212
    ButtersSuki
    Registered Users Posts: 53,028 ✭✭✭✭ButtersSuki


    cruizer101 wrote: »
    So now Pamela has actually come out and said she think there is nothing wrong with not paying her mortgage
    Independant.ie

    Speaking to the ‘Sunday Independent’, Ms Flood said she and her husband have done nothing wrong.
    “Missing mortgage payments is not doing something wrong. If you miss them genuinely because you can’t make the mortgage payment, that is not something wrong.
    “It’s not immoral, it’s not even illegal, it’s just missing mortgage payments,” she said.

    <SNIP>

    She’s implying it was almost an oversight on their part when in fact their actions are quite deliberate. You don’t “miss” or forget to make a payment for more than 9 years.


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    #213
    Lux23
    Registered Users Posts: 7,134 ✭✭✭Lux23


    What I don't understand is how they were able to start a business during that time? Did they just use all their money for that and said screw the mortgage?


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    #214
    JDD
    Registered Users Posts: 1,578 ✭✭✭JDD


    The reason this whole debacle has lasted for so long is that there were a lot of separate legal issues that happened with Tanagers purchase of Bank of Scotland's loan book. I'd say that has added three years to the litigation.

    So I think this is the situation. The economy collapses and you lose your jobs. You're in a nice house that you now can't afford. You continue to make interest payments with a view to entering into a payment arrangement with your bank, but the bank don't accept that any payment arrangement that you are putting forward is sustainable. Those negotiations probably lasted for about 18 months. Back in 2011 they probably thought "well, we're in our late thirties, we've been in mortgage arrears for two years, we're probably never going to get approved for a mortgage again, even if we continue to pay interest. So lets stop paying, let them repossess the house, and we'll stay in it for as long as we can.

    Worst case scenario, they repossess in the next 12 months, and we're stuck with the residual debt. Medium case scenario, we hang on for three or four years, the house appreciates in value, they repossess and while we'll be out, at least we won't have the residual debt. Best case scenario, we stay in the house for five years, our personal economic situation improves, the value of the house improves, we can enter into an arrangement with the bank and we all live happily ever after.

    Was it immoral? Yes, they broke their contractual arrangements with the bank. Was it the worst thing done by debtors during the crash? No, not when you look at the developers who got paid hundreds of thousands of taxpayers money for managing their own repossessed property portfolios. Is it their fault that BoS or Tanager didn't repossess five years ago? No. Tanager messed up their legal title to the mortgages, and the couple here got the advantage of a couple more years in the house as a result.

    They clearly have been saving money over the past nine years. While it's not €345k, because they never would have had the money to pay for that in the first place, it is the amount a small 3 bed in a cheaper area would have cost to rent over the same period, so possibly around €150k. I have no moral qualms about them being repossessed now, I have to say. They were lucky, that's all.


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    #215
    Wtf ?
    Banned (with Prison Access) Posts: 343 ✭✭Wtf ?


    <SNIP>


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    #216
    Nevin Parsnipp
    Registered Users Posts: 832 ✭✭✭Nevin Parsnipp


    Graham wrote: »
    It doesn't say that.

    Probably right..but that situation is of their own doing.

    They gave a Court Undertaking to leave the house by an agreed date and have reneged on that apparently....surely this is making a complete mockery of an already overloaded legal system. ??


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    #217
    eagle eye
    Registered Users Posts: 37,508 ✭✭✭✭eagle eye


    So they couldn't meet the repayments for some time.
    If that's true and they had a family do you expect them to just leave and live on the street?


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    #218
    Shelflife
    Registered Users Posts: 3,073 ✭✭✭Shelflife


    No , you expect them to find a place to rent that is within their means , they have had ample time to sort it out.

    If the bailiffs come along now and turf them out on the street , they only have themselves to blame.


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    #219
    splinter65
    Registered Users Posts: 9,420 ✭✭✭splinter65


    eagle eye wrote: »
    So they couldn't meet the repayments for some time.
    If that's true and they had a family do you expect them to just leave and live on the street?

    They got 3 months to find somewhere else.
    How much time do they need?
    They’ve loads of money saved up because they haven’t paid any rent or mortgage for 9 years.
    He’s got tonnes of family in Thurles.
    They can rent a place here and the train service to Dublin is excellent.
    He can commute daily.
    Loads of good schools and cousins for his kids here.
    That’s just one solution.


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    #220
    nthclare
    Banned (with Prison Access) Posts: 3,316 ✭✭✭nthclare


    How dare anyone suggest this attractive looking couple should pay for things like the rest of us.
    They have good looking friends I'm sure they all don't have to pay for anything either.

    And for people to be upset because this charming couple had gotten away with it, do ye not realize who they are and the influential circles they rub shoulders with ?

    I'm outraged about the fact that people can't pretend this isn't happening, it's shocking...

    They're to be looked up to and put on a pedestal for how important they are....


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    #221
    lawred2
    Registered Users Posts: 24,270 ✭✭✭✭lawred2


    eagle eye wrote: »
    So they couldn't meet the repayments for some time.
    If that's true and they had a family do you expect them to just leave and live on the street?

    :rolleyes:


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    #222
    eagle eye
    Registered Users Posts: 37,508 ✭✭✭✭eagle eye


    splinter65 wrote:
    They got 3 months to find somewhere else. How much time do they need? They’ve loads of money saved up because they haven’t paid any rent or mortgage for 9 years. He’s got tonnes of family in Thurles. They can rent a place here and the train service to Dublin is excellent. He can commute daily. Loads of good schools and cousins for his kids here. That’s just one solution.
    Have they got money?


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    #223
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    eagle eye wrote: »
    So they couldn't meet the repayments for some time.
    If that's true and they had a family do you expect them to just leave and live on the street?


    All a bit innocent on your behalf.. Good fund me page perhaps 😂


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    #224
    Gatling
    Registered Users Posts: 40,291 ✭✭✭✭Gatling


    eagle eye wrote: »
    Have they got money?

    Apparently yes he runs a successful catering business I'd hazard a guess she's earning too.
    360_F_102352090_ie3kLjDIvgrT1sxVDknWCUh8PxgMYzM7.jpg




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    #225
    nthclare
    Banned (with Prison Access) Posts: 3,316 ✭✭✭nthclare


    <mod snip>


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    #226
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Mod Note

    The standard of posting on this thread is way below acceptable for the accommodation & property forum.

    If you're just posting to be a d**k or a smart arse, take it somewhere else.

    Do not reply to this post on thread.


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    #227
    nthclare
    Banned (with Prison Access) Posts: 3,316 ✭✭✭nthclare


    Graham wrote: »
    Mod Note

    The standard of posting on this thread is way below acceptable for the accommodation & property forum.

    If you're just posting to be a d**k or a smart arse, take it somewhere else.

    Do not reply to this post on thread.

    My note to you is, it's after hours.
    Some people have a sense of humour.
    I appreciate you have a job to do.
    But if we can't have a bit of banter about factual information and news.

    Where else can we have the bants.....

    Oh dear my mistake sorry for the mistake....

    I'll walk away from this


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    #228
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    nthclare wrote: »
    My note to you is, it's after hours.

    Please check what forum you are posting in.


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    #229
    nc6000
    Registered Users Posts: 3,221 ✭✭✭nc6000


    eagle eye wrote: »
    Have they got money?

    Their Lacanche cooker featured in the Irish Times Life & Style article would have cost at least €6,000.

    https://www.irishtimes.com/life-and-style/homes-and-property/interiors/at-home-with-pamela-flood-i-am-a-total-hoarder-1.3333531


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    #230
    pc7
    Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 13,984 Mod ✭✭✭✭pc7


    The media sob story continues https://m.independent.ie/irish-news/news/pamela-was-being-rushed-to-surgery-while-they-were-setting-up-our-house-viewings-38330942.html


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    #231
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    pc7 wrote: »
    The media sob story continues https://m.independent.ie/irish-news/news/pamela-was-being-rushed-to-surgery-while-they-were-setting-up-our-house-viewings-38330942.html


    This sounds terrible. Cleaning your house for a viewing. We are not throwing all the sob stories from the last nine years into the mix to get the public on side. Id have put up with having to get out of the house for two hours on a saturday to live without having to pay a mortgage for 9 years. Sounds great this.


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    #232
    sassyj
    Registered Users Posts: 733 ✭✭✭sassyj


    They also continued to have children when they clearly couldn't afford to. Like a lot of people in this country, a great sense of entitlement. I'd love to see where they went on holidays each year of the 9 years


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    #233
    pc7
    Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 13,984 Mod ✭✭✭✭pc7


    Are they trying to put off prospective buyers? Or garner sympathy, I just can’t fathom their goal.


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    #234
    irishgeo
    Registered Users Posts: 9,369 ✭✭✭irishgeo


    I love how he says it's his home. It's not mate it's the bank house. It's not your home until you get the title deeds.


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    #235
    TSQ
    Registered Users Posts: 283 ✭✭TSQ


    nc6000 wrote: »
    Their Lacanche cooker featured in the Irish Times Life & Style article would have cost at least €6,000.

    https://www.irishtimes.com/life-and-style/homes-and-property/interiors/at-home-with-pamela-flood-i-am-a-total-hoarder-1.3333531
    Hope the bank is making notes on the artworks and expensive furnishings to be seized


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    #236
    TSQ
    Registered Users Posts: 283 ✭✭TSQ


    pc7 wrote: »
    Are they trying to put off prospective buyers? Or garner sympathy, I just can’t fathom their goal.

    Yeah..”She brought the kids to the park in the middle of winter and stayed there for four hours while they showed the house." (Sob)

    Like, as if any house viewing is scheduled to last more than 30 minutes. What a load of old cobblers. But it wouldnt be a housing sob story without bringing “de poor childer” into it.


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    #237
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    Is his business still going ?.has there been no income earned in 9 years ?


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    #238
    Claw Hammer
    Registered Users Posts: 6,160 ✭✭✭Claw Hammer


    irishgeo wrote: »
    I love how he says it's his home. It's not mate it's the bank house. It's not your home until you get the title deeds.

    It is his home while he lives in it. The issue of title is irrelevant.


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    #239
    vriesmays
    Registered Users Posts: 1,570 ✭✭✭vriesmays


    https://www.irishexaminer.com/breakingnews/ireland/pamela-flood-and-ronan-ryan-facing-prison-within-48-hours-for-breaching-court-orders-over-home-938875.html


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    #240
    irishgeo
    Registered Users Posts: 9,369 ✭✭✭irishgeo


    Claw Hammer wrote: »
    irishgeo wrote: »
    I love how he says it's his home. It's not mate it's the bank house. It's not your home until you get the title deeds.

    It is his home while he lives in it. The issue of title is irrelevant.
    The law disagrees with you.


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    #241
    beauf
    Closed Accounts Posts: 22,651 ✭✭✭✭beauf


    irishgeo wrote: »
    The law disagrees with you.

    Is there a legal definition of home?


This discussion has been closed.
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