Hanlonodavid
Registered User
- Messages
- 24
If I was informed of the possibility that these houses were to be used for social housing I would have not bought the house.
. And of course being the backward self serving bunch they are the answer is always 'No'.
. As for the neighbours they used the empty stock of houses for social housing,
. 'They' are Cork City Council because it is they who allocated the houses to social housing. All the houses originaly in the estate where affordable housing and I had great neighbours that had to move out due to a whole other issue years back.
So Im dealing with both negative equity and neighbours who will not look after their houses. The fact I can't rent and cannot sell because of council drives me insane.
If that's true (and I've no reason to doubt you) how come fingal co co were able to change their policy in relation to renting out affordable homes?Also dont bother with the Councils, they have no power aparently, this is a government legislative scheme and changes to it means changes to legislation in parliment.
David you and thousands are in the same predicament. In fact I'm in a worse predicament, similar scenario.
2 adults and 3 kids in a one bedroom apartment bought for 175k currently paid 80k+ which ironically is the current market value. I cant keep a straight face saying this, and yet another 140k to pay. Its a prison.
You would have to be uterly insane to continue entertaining this debenture. They get your money, house any savings then blacklist you. There is not a word in the dictionary that describes what is going on here.
ADDED to this, I'm 100% full annity, NOT shared ownership but both are part of the same scheme that is "Affordable Housing"
I have come to the realisation that there is an alternative meaning to the word ownership here.
- Its private housing so they wont transfer you to a house as in social housing if your needs have changed.
- Its not private enough to lease out, so you must stay.
- They wont allow voluntary surrender
- They wont accept any offer on the current market value
- You must also pay the property tax
- If you are shared ownership you pay all management fees
- You must also pay the water charges on something that you supposedly "own".....
Here's something that most dont know, EVEN if you redeme the loan the clawback follows you for 25 years
Youre only option is to service the loan like there is no negative equity or recession. Its BAU (Business As Usual)
They DID take positive equity into account when drafting the legislation with the clawback clause that may NEVER come off the deeds unless the unit is SOLD.....This is the only time the clawback clause comes off. Try deal with a bank with this 3rd entity on the title deeds, they'll not entertain this, I've tried. So if you made any profit on the sale they took a chunk of it. (I can understand this tbh)
However, they DID NOT take negative equity into a/c which is the root of all this. But they dont care.
Under normal behaviour in any economy the relationship between a Creditor and Debtor exists a term called "Co-Responsibility".
*****THERE IS COMPLETE DENIAL OF RISK FROM THE CREDITORS TO THE DEBTORS ALL OVER IRELAND*****
They (Government/council) took a risk lending you money just like the bondholders and want to be paid back in full, just like the bondholers.
Also dont bother with the Councils, they have no power aparently, this is a government legislative scheme and changes to it means changes to legislation in parliment.
No TD is representing Affordable Housing Clients in parliment, no one is taking it serious.
I have written to both ministers for housing, many solicitors and more. In contact with IMOH and NewBeginnings at the mo.
The council will only say they are "agents" to the state and have no arbitrary authority, its still business as usual to them, they dont see the recession or the ramifications of this scheme to ordinary decent people who wanted a HOME, not a flippen INVESTMENT.
I have recorded 2 agents from DCC telling to lease my home out but they cant give it to me in writing.... They know something is wrong AND that lots of people are doing it.
If that's true (and I've no reason to doubt you) how come fingal co co were able to change their policy in relation to renting out affordable homes?
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