dereko1969
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Five years to the day since Rona Browne or her partner paid “a single penny” off a €300,000 mortgage debt, a judge told her today she and her family could live there for another year.
Browne told the court she had always engaged with the bank but had been unable to reach an agreement with them. She said her former partner Darren Mahoney had neither engaged with the bank or the court.
Judge Ni Chulachain made an order for costs against Mahoney in favour of the bank but made no costs order against Browne.
Fair play to Ray Managh and the Indo for highlighting this.
Most of the reporting is "The banks are being unreasonable" We rarely see reports of the outrageous behaviour of borrowers and how they get away with it.
I suppose this type of carry on results in variable rate mortgage holders being ripped off by the banks.As the late John Healy said ---it's time somebody shouted stop.
Talk about a brass neck! I've been vocal about my own issues on this forum and can only pay the interest off my debt each month - I don't sleep well and my health has deteriorated so I just don't know how these people can sleep at night.
This statement should go down in history!!!
“This has been my family home and has been my mother and father’s family home and the family home of my grandparents before them,” Browne told the court.
Without blowing my own trumpet or looking for a medal I can categorically state that if I could not meet the interest on the loan I would voluntarily surrender the property. The pressure alone is immense (for us anyway) when you are having problems paying anything off the capital; you feel a sense of failure. That sounds crazy but for us its true.
Thanks Dermot.
Without blowing my own trumpet or looking for a medal I can categorically state that if I could not meet the interest on the loan I would voluntarily surrender the property. The pressure alone is immense (for us anyway) when you are having problems paying anything off the capital; you feel a sense of failure. That sounds crazy but for us its true.
This statement should go down in history!!!
“This has been my family home and has been my mother and father’s family home and the family home of my grandparents before them,” Browne told the court.
I saw that. It came across to me like she was a landed Russian aristocrat pre-revolution. Property mortgaged to the hilt, living off borrowed money, never paying anything back.
The test to avoid repossession should be; Are you paying the Interest in full and engaging with the Bank or the open rental value of the house whichever is the greater.
Thanks Dermot.
Without blowing my own trumpet or looking for a medal I can categorically state that if I could not meet the interest on the loan I would voluntarily surrender the property. The pressure alone is immense (for us anyway) when you are having problems paying anything off the capital; you feel a sense of failure. That sounds crazy but for us its true.
Why do I bother my barney paying my mortgage? Woman goes 5 years without paying a penny and then given another year before she's kicked out!
Even where a PIA could be put through resulting in lesser payments than either of your choices?
I am tired of seeing "kicking the can down the road solutions". If the interest is not being paid in full the amount owed is getting bigger and in a lot of cases the so called solution turns out worse for all concerned.
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