the UK concept of getting out of a mortgage by "handing back the keys" does not exist in Ireland,
I have kept up with the Life assurance policy and home insurance each month (250 p.m.).
Interestingly enough, it doesn't really apply in the UK either! If the bank repossesses the home, they are entitled to pursue the borrower for and deficit after selling the house.
In practice, they will probably write it off, if they feel that they have no hope of recovering it.
Sorry ShindigI cannot take the chance of owing more than what is outstanding already
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