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    Massive debt is it too late for help ?

    I pay Euro 92 per month for electricity for a 3-bed detached house. Where do you get such cheap electricity from? :)
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    Securitisation of mortgages

    Is this practice still going on? I thought it had been discredited and assumed that it had been stopped.
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    Negative equity. Can the bank sue me for the balance?

    In order to keep my blood pressure down :), I've kept my distance from this thread for a while, but reading the latest posts, I have seen a lot of sensible and sympathetic replies. Thanks for those. My original question has been answered, I suppose, although I'm not totally convinced: When I...
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    Negative equity. Can the bank sue me for the balance?

    1. Read the thread. It's perfectly clear. 2. I'm not blaming anyone, as you'll see if you read the thread. I am simply highlighting the point that I thought the apartment was (the only) collateral for the mortgage. It was quite a shock to discover that my family home would be at risk now if I...
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    Negative equity. Can the bank sue me for the balance?

    I agree the banks carry a lot of the blame (for the appalling mess that is the present property market), but don't forget the planning people who were ultimately controlled (or not) by the government. Bertie and his finance minister have a lot to answer for.
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    Negative equity. Can the bank sue me for the balance?

    Believe me, negative equity is by no means a meaningless concept here.
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    Negative equity. Can the bank sue me for the balance?

    Yes, I got the very best financial advice available at the time. Remember that the housing market was booming then. I was advised to put as much as possible into "bricks and mortar". I was also advised to "leverage" as much as I could, and went looking for (and found) a mortgage. To their...
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    Negative equity. Can the bank sue me for the balance?

    That's a bit harsh. I took a gamble on the stock market, too, and lost. I also bought a "fully tradable" share in Se(ll)afield Golf Club and when I tried to sell that (for 40% of what I paid) the golf club stepped in and vetoed the sale. I have found lots of interesting ways to lose money!
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    Negative equity. Can the bank sue me for the balance?

    That wouldn't work in our case as we are house owners with obvious means. I've been advised that the bank will pursue us for every penny. Apparently, the only way to get away with paying less than the full amount is to skip the country!
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    Negative equity. Can the bank sue me for the balance?

    It was an interest only mortgage over a very short term (4 years) because of my age. The bank is happy for me to carry on paying interest only for another 12 months, and they would review the situation again after that. The problem is, as Brendan said, futher falls in the market would make my...
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    Negative equity. Can the bank sue me for the balance?

    Thanks, Brendan and Mercman. That's what I thought. (and thanks, Brendan for improving the title of the thread)
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    Negative equity. Can the bank sue me for the balance?

    I am 64 years old and retired. In 2004 my wife and I bought an apartment with the intention of selling it again in a few years for a profit. (Don’t laugh) We bought for 350,000 euro with a mortgage of 250,000 and cash of 100,000. My understanding at the time was that the apartment was (the...
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