They may not even know you cancelled TRS.
CiaranK
yes you are right we are paying a HIGH price, having to emigrate, but I know we will have a better quality of life.
I know some people might not agree to us keeping the rent, but in the grand scheme of things its not hugh money and we wont be long spending it with relocation costs etc. Is not like we are defaulting on purpose and saving the money.
I think I would rather deal with them over the phone, so its possible I will reschedule the meetings etc to earns us a bit of extra time.
thanks for the idea.
Update
We are due to go on a tracker rate soon so they have suggested we rent out the house and just pay interest only.
We will not be servicing the capital repayment.
If we rent the house, we have to consider all the costs associated with renting so we are still not sure if this would be the best decision for us.
.
The expression they used with us the other day was " sure just kick the can down the road for another while and hopefully things will change"
Thanks Bronte.
The expression they used with us the other day was " sure just kick the can down the road for another while and hopefully things will change"
To me there is only one winner in this scenario "the bank"
No point in leaving Bank to repossess. STRONGLY suggest call into them and TELL THEM your decision and IMPRESS on them that you want to assist them in disposing/sorting the Mortgage. Tell them you are aware of shortfall but the LEAST you can do is assist them in disposal of the house. In this way you are as helpful AS A POOR SITUATION permits.Thanks Cashier, you obviously guess where Im coming from...thanks for the kind words. I hope we are doing the right thing and everything works out ok.
It should be an option for the bank to roll up the total debt, sell the house, get what they can and work out something with you. any debt writeoff should go on your ICB record and stay there for 20 years, maybe they can let you get settled in the new country and once you find work and your feet you could make some payments.
Trying to get blood from stones springs to mind.
20 years on the ICB? What is this? Stalinist Russia?
Is it any wonder that people flee Ireland to non EU states to escape this oppression?
perhaps there should be different degrees of severity imposed.
It just is very unfair
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