My sister who is a very private person has informed me that she is in trouble with her mortgage. House valued around 500K with 250K mortgage on it. I don't know all the details but it appears her mortgage was sold off to a vulture fund and she thinks she may lose the house. She really wants to stay in her home but cant afford it. Family members (brothers and sisters) are willing to help even though none of us knew she was in this trouble until last week. She is separated but not divorced which adds to the problem. Between us we could afford to buy out the mortgage but that also has implications due to the separation and title etc. Unfortunately she has left it so late. Any advice welcome on how to help her .
Helping Sister with Vulture
- Thread starter col
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Maybe change the word "vulture" to "Investment".
So far I have not read of any situation where an investment fund has been anything other than extremely reasonable and far more reasonable than the banks.
Of course if you read downtrodden newspapers with their scaremongering and catastrophising commentary based on no actual proof other than some blabbering by left wing politicians and people like david hall (5m house in dalkey is a bog standard house), you'd be worried.
There's a very strong possibility of buying out the mortgage for less than the value of the outstanding mortgage as "investment funds" are practical and are simply looking for a return on their investment.
You could collectively loan her the money to buy out the mortgage and have her repay you at a nominal interest rate over a long period
So far I have not read of any situation where an investment fund has been anything other than extremely reasonable and far more reasonable than the banks.
Of course if you read downtrodden newspapers with their scaremongering and catastrophising commentary based on no actual proof other than some blabbering by left wing politicians and people like david hall (5m house in dalkey is a bog standard house), you'd be worried.
There's a very strong possibility of buying out the mortgage for less than the value of the outstanding mortgage as "investment funds" are practical and are simply looking for a return on their investment.
You could collectively loan her the money to buy out the mortgage and have her repay you at a nominal interest rate over a long period
I suspect that you actually mean Jerry Beades and Killiney?
New Land League member describes Killiney mansion as "bog standard"
The case will be heard in the High Court today.
www.thejournal.ie
Blackrock1
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it was killiney and at one time more like 25m altho subsequently sold for 9.5m at the bottom of the market.
Bog standard indeed.