Brendan Burgess
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There was an interesting case in the Dublin Registrar's Court.
I was also in court back in February when this case was last there.
What happened in February
The wife spoke very well and confidently. The arrears arose from problems they had in 2013 and 2104. They have paid €1,500 per month since 2016 which is more than is required. Tanager had told them that they would capitalise arrears, but recently they wrote to them saying "that they don't offer arrears capitalisation as a solution". The €1,500 per month is enough to pay off the mortgage by the original date. They got the sympathy of the Registrar and of Tanager's barrister. It was adjourned to yesterday and Tanager were ordered to arrange a meeting with them to come up with a solution.
What happened yesterday
It was a complete shambles from Tanager's point of view. They wanted an adjournment for 9 months. Both borrowers showed up and she again spoke well and confidently. They got a letter from tanager saying that the arrears were overstated by €10k and are now down to €36k . They have an agreement from Tanager for 9 months to pay €1,832 per month and after that, Tanager will capitalise the arrears and the new repayment will be €1,400. They got the letter from Tanager on Monday and sent it back on Tuesday.
The Registrar read the letter and said that according to the letter they were in the MARP. If so, they should not be in court. "It looks as if this has been resolved so these proceedings are moot".
She then turned to the borrowers and asked them what they wanted. They said that they would like the proceedings struck out. So the Registrar struck out the proceedings.
In a separate case,where Ulster Bank had entered into a 9 month repayment arrangement with a borrower, Ulster Bank sought a 9 month adjournment. She refused and struck out the proceedings for want of prosecution.
I was also in court back in February when this case was last there.
What happened in February
The wife spoke very well and confidently. The arrears arose from problems they had in 2013 and 2104. They have paid €1,500 per month since 2016 which is more than is required. Tanager had told them that they would capitalise arrears, but recently they wrote to them saying "that they don't offer arrears capitalisation as a solution". The €1,500 per month is enough to pay off the mortgage by the original date. They got the sympathy of the Registrar and of Tanager's barrister. It was adjourned to yesterday and Tanager were ordered to arrange a meeting with them to come up with a solution.
What happened yesterday
It was a complete shambles from Tanager's point of view. They wanted an adjournment for 9 months. Both borrowers showed up and she again spoke well and confidently. They got a letter from tanager saying that the arrears were overstated by €10k and are now down to €36k . They have an agreement from Tanager for 9 months to pay €1,832 per month and after that, Tanager will capitalise the arrears and the new repayment will be €1,400. They got the letter from Tanager on Monday and sent it back on Tuesday.
The Registrar read the letter and said that according to the letter they were in the MARP. If so, they should not be in court. "It looks as if this has been resolved so these proceedings are moot".
She then turned to the borrowers and asked them what they wanted. They said that they would like the proceedings struck out. So the Registrar struck out the proceedings.
In a separate case,where Ulster Bank had entered into a 9 month repayment arrangement with a borrower, Ulster Bank sought a 9 month adjournment. She refused and struck out the proceedings for want of prosecution.