Honohan says 50% of repossession cases taken by AIB

Discussion in 'Mortgage arrears & negative equity case studies' started by Bronte, Dec 15, 2016.

  1. Bronte

    Bronte Frequent Poster

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  2. dub_nerd

    dub_nerd Frequent Poster

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    For the last five years Edmund Honahan has made no secret of the fact that he is opposed to repossessions and wants the taxpayer to pay to "nationalise" houses in mortgage difficulties.
     
  3. Brendan Burgess

    Brendan Burgess Founder

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    Hi Bronte

    The vast majority of family homes are dealt with in the Circuit Court. The only ones in front of Honohan are old ones and ones for very large houses, above a particular Rateable Valuation.

    "Of the bank’s cases, most related to debts exceeding €75,000, while 11 concerned possession proceedings."

    So about 20% were possession proceedings. I would guess that almost all of them related to commercial property.

    Brendan
     
  4. Bronte

    Bronte Frequent Poster

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    Last edited: Dec 15, 2016
    I find it odd he's making a political dig at a Minister. From a protected and priviliged position.
     
    Last edited: Dec 15, 2016
  5. Delboy

    Delboy Frequent Poster

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    I think Honohan needs to read up on his copy of Bunreacht na heireann, that bit about seperation of powers and the like
     
  6. Galway21

    Galway21 Registered User

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    I think what Honohan was really referring to was the tremendous waste of taxpayers money by AIB's policy of issuing Circuit Proceedings for house re-possession and also entering High Court proceedings in the High Court for judgment i.e. repossession proceedings are different from judgment proceedings.

    His point is what is the point of costly judgment proceedings against a couple who have no money and are being evicted from their family homes.

    It just seems that AIB have opened the floodgates on solicitors fees etc
     
  7. Delboy

    Delboy Frequent Poster

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    How else are they supposed to get back the house? Especially in Ireland where there is the entitlement culture that we once only thought existed at the bottom but as we have learned over the past 10 years, it extends right to the top
     
  8. Galway21

    Galway21 Registered User

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    I have no problem with them issuing repossession proceedings in the Circuit Court, but it is a waste of money by the taxpayer to issue judgment proceedings in the High Court against people who are about to lose everything in any event.
     
  9. Delboy

    Delboy Frequent Poster

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    How are they going to lose everything? Tens of thousands of non-payers still in-situ for 4,5,6,7+ years.
    The banks have to aggressively go after them- they're just not going after enough of them or are doing so quick enough
     
  10. Lone Star

    Lone Star Frequent Poster

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    At Least Master Honohan will be remembered for helping people - banks are dismembering lives....it's not al clear cut regarding paying the banks! My house was firesaled at 353 in arrears!!! (if I even was in arrears based on interest rates overcharing that is now coming to the fore) House Sold for 50K, now worth 130K again or a good rental yield.....all that was needed was a short moratorium...the bank wanted quick cash........Now a deal to shut me up...god forbid I'd win in court....but that's unlikely as system so corrupt even if case was watertight....
     
  11. MrEarl

    MrEarl Frequent Poster

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    Well, on the basis that AIB has a significant percentage of the overall market, I don't think it's that surprising that about half were AIB cases (especially if you include a few from the EBS under the AIB banner, which may well be the case in Honahan's eyes given EBS is now a wholly owned subsidiary).

    As for the shareholder, I'd say the shareholder is happy to see AIB finally dealing with their problem loans, because I believe they have been extremely slow to deal with a lot of their problem loans up to this point.
     
  12. Sophrosyne

    Sophrosyne Frequent Poster

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    When are we going to arrive at the truth about repossessions?
     
  13. MrEarl

    MrEarl Frequent Poster

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    Perhaps you can enlighten me ?
     
  14. Lone Star

    Lone Star Frequent Poster

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    Repossessions ....a can of worms about to ensue it seems.....