" SHOCK STATS Four family homes are being repossessed by the Central Bank every day"

Discussion in 'Mortgage arrears & negative equity case studies' started by Brendan Burgess, Dec 12, 2016.

  1. Brendan Burgess

    Brendan Burgess Founder

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    I kid you not. A heading from the Irish Sun

    upload_2016-12-12_19-4-20.png
     
  2. moneybox

    moneybox Frequent Poster

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    ......and there are something like 30,000 homes in arrears. That is a really shocking statistic alright :confused:
     
  3. SaySomething

    SaySomething Frequent Poster

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    Hilarious. Did you point it out to them?
     
  4. Andy836

    Andy836 Frequent Poster

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    That's hilarious. Genuinely made me laugh out loud.
     
  5. odyssey06

    odyssey06 Frequent Poster

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    Last edited: Dec 12, 2016
    These four homes a day aren't in arrears though. The Central Bank takes what the Central Bank wants. That's the real scandal.

    They started the entire banking collapse just so they could get their hands on Anglo's planned shiny new HQ.
     
    Last edited: Dec 12, 2016
  6. Sarenco

    Sarenco Frequent Poster

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    Actually more than 100,000 mortgage accounts were in arrears at the end of Septemer - around 18% of the total.

    The equivalent Eurozone average arrears rate is around 1.75%.
     
  7. Delboy

    Delboy Frequent Poster

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    Was it on page 3?
     
  8. Brendan Burgess

    Brendan Burgess Founder

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  9. MrEarl

    MrEarl Frequent Poster

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    I don't know what bothers me more Mr. Burgess....

    The headline, or you putting that "publication" on your website.... althuogh in this instance, I can see why you couldn't help but post it ;)
     
  10. Brendan Burgess

    Brendan Burgess Founder

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    The heading is still there online, but it didn't make the printed version.

    Brendan
     
  11. Enda01

    Enda01 New Member

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    From watching Brendan on the news last night, it seems if you make some kind of reasonable monthly payment, even if its not the full amount of the mortgage repayment and continue to do this, your family home is safe, would this be correct?
     
  12. Brendan Burgess

    Brendan Burgess Founder

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    Yes Enda

    Séamus Coffey, Karl Deeter and I attended courts throughout the country. Out of 151 orders we witnessed being granted, only 2 were paying something and attended court. And their something was very occasional.

    I would argue that if borrowers have sustainable mortgages, and the bank is not facilitating them, the courts should not grant an order for possession.

    But the courts should grant repossessions much quicker and much more easily. Anyone who does not attend court should not get an automatic adjournment. Anyone who has paid nothing at all in 6 months, should not get an automatic adjournment.



    Brendan
     
  13. Enda01

    Enda01 New Member

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    Thanks Brendan, there is so many people in this financial position that I know and they can pay something, but not the full amount. The info is good to know. Great work.
     
  14. Ross Cashman

    Ross Cashman New Member

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    would you be confident of my predicament brendan,i posted in the "Vulture fund settlement" that you also were involved in?????
     
  15. Brendan Burgess

    Brendan Burgess Founder

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    Hi Ross

    REad the Posting Guidelines.

    You tagged your post onto someone else's thread.

    You are now asking it again in a separate thread.

    Start your own thread. Complete all the information in the Standard Format and you are more likely to get a meaningful answer.

    Brendan
     
  16. demoivre

    demoivre Frequent Poster

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    How do you define a sustainable mortgage in the context of a PIA, or more particularly Section 115 A of the Personal Insolvency Act?
     
  17. Brendan Burgess

    Brendan Burgess Founder

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    Hi demoivre

    I don't need to.

    If a PIA has been agreed it won't be in the Repossession Courts.

    I am arguing that if a borrower with a sustainable mortgage who is paying what they can, then the bank should not be allowed to repossess.

    Brendan
     
    odyssey06 likes this.
  18. demoivre

    demoivre Frequent Poster

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    Don't get what you're saying Brendan. An unsustainable mortgage can be made sustainable through a PIA. I don't think banks should be granted possession orders unless a PIA has also been considered, and is deemed an unsuitable arrangement. PIA's were, in the main, introduced to keep people in their family homes.