EBS Advise Help ASAP please :(

M

mortgage2015

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37
I am 35 years old

I am the father of three children

I sufferred a mental breakdown and was hospitalised for a few months due to financial stress and other issues.

I am in full time employment.

My mortgage is 210K
I am in arrears of 40K

I am paying the full amount of €1K a month

It just not affordable and we are struggling the past 36 months

They are speaking about capitalising the arrears into the mortgage that i can barely pay at present

Can anyone out there help or give me direction or am i best handing the keys back

What solutions are possible

It is with EBS

Thanks all for any replies

Concerned
 
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You should give these guy's a call and arrange an appointment ASAP ,they deal with EBS /AIB .Do not hand back keys until you have explored all avenues, try not to stress about it as a lot of people are in similar situations. My advice is to pay what you can and contact professional help.
 
I have some reservations about New Beginnings. Admittedly these have only arisen through commentary from 3rd parties. AFAIK they charge €200 for an initial meeting and the advice given is likely to be similar to what a poster would get on AAM. There is a further charge if you wish them to contact the banks on your behalf. Perhaps others with more personal experience will provide greater clarification on what was provided!
OP you have provided bo financial details (income/expenditure). Completion of the financial makeover template would facilitate posters giving you more specific advice. Have you filled in a Standard Financial Statement and returned this to the Bank?
 
GDUFFY said:
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You should give these guy's a call and arrange an appointment ASAP ,they deal with EBS /AIB .Do not hand back keys until you have explored all avenues, try not to stress about it as a lot of people are in similar situations. My advice is to pay what you can and contact professional help.
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Agree with GDUFFY.
Plus .
Do you owe k210 including arrears?
Are you on Variable Rate or (hopefully) tracker rate?

It appears EBS/Aib are making genuine efforts to assist those who will work with them.
From your short post you fall into that section.
As GDUFFY says New Beginning are working with EBS/AIB and once they take on your case they will take most of the stress from you, and I expect them to come back with a workable package..
 
44brendan said:
I have some reservations about New Beginnings. Admittedly these have only arisen through commentary from 3rd parties. AFAIK they charge €200 for an initial meeting and the advice given is likely to be similar to what a poster would get on AAM. There is a further charge if you wish them to contact the banks on your behalf. Perhaps others with more personal experience will provide greater clarification on what was provided!
OP you have provided bo financial details (income/expenditure). Completion of the financial makeover template would facilitate posters giving you more specific advice. Have you filled in a Standard Financial Statement and returned this to the Bank?
Click to expand...

I have not submitted a FS in 5 mths

There has been a change in both my income and outgoings resulting in me needing to find 350 extra month to stay a float as such

Once i get my payslip this month i will send it in

However i dont hold much hope as it appears only a select few get deals that our favourable
 
An alternative to New Beginnings may be IMHO who will deal with AIB/EBS/Haven free of charge (to the mortgage holder)

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Its' not true to say that only a select few get deals. MARP applies to all mortgage borrowers and if your SFS income/expenditure indicates an ability to pay only a certain amount then you will not be asked to pay a higher amount. However, you will be expected to prioritise your mortgage payments and to restrict your other expenditure to within reasonable guidelines.
 
Gerry Canning said:
Agree with GDUFFY.
Plus .
Do you owe k210 including arrears?
Are you on Variable Rate or (hopefully) tracker rate?

It appears EBS/Aib are making genuine efforts to assist those who will work with them.
From your short post you fall into that section.
As GDUFFY says New Beginning are working with EBS/AIB and once they take on your case they will take most of the stress from you, and I expect them to come back with a workable package..
Click to expand...


210K borrowed
40K arrears

250K total owed

Prop Value say 170K

do you know anyting bout the reasonable living costs and what exactly to put down on the FS

Should i overstate my outgoings to increase the chance of getting a deal?

Should i just stop paying? or pay little?

I have zero money and borrow montly from my parents to get by ( a sub if you get me)

It no way to live really
 
Fill it in correctly and honestly, you will need to provide 3 months bank statements also so if you overstate or understate it it could be obvious. Include borrowings from family.

I'm doing one myself at the moment and have found the PTSB excel version to be helpful. I'm with Haven so i'll just be submitting it without the PTSB branding - the content is standard so is the same other then declaration page.

Don't just stop paying as you could be deemed un-co-operative and fall out of the protection of MARP
 
mortgage2015 said:
I have zero money and borrow montly from my parents to get by ( a sub if you get me)
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This implies that you have no income. I'm presuming that is not the case and that parents are providing additional funds to subvent your income. However, if you want good advice please post a full financial makeover.
 
mortgage2015 just to clarify - what would your ideal outcome be? Are you hoping to keep the house and work something out with the bank? Or go down the insolvency route?
 
Should your first port of calls be MABS?. Anyone I have heard who has dealt with them has found them good and they are free.
 
44brendan said:
This implies that you have no income. I'm presuming that is not the case and that parents are providing additional funds to subvent your income. However, if you want good advice please post a full financial makeover.
Click to expand...

He says he's working and he has 3 kids but with bills and mortgage, he has nothing left afterwards.

You will get a certain amount of advice off the posters here but you need professionals to bring you through the process and help you deal with the bank.
 
ok guys

I completed a FS and met up with IMHO

they are gona review same and put something foward to the bank
 
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