Arranged interest only payments etc what was affordable, now that agreement time has come to an end, they find themselves €12k in arrears a host of bank charges,
What has happened here is paying interest only has put them into arrears, MARP is written by the banks for the banks. ?
RE-PO time = "Repossession time"
Its just that frightening letter you get about arrears, so you have to contact them straight away. I was just wondering because of so much arrears will it stop them from re-arranging the time scale of mortgage if that was an option, I wont say who the bank is yet but I'm sure banks Don't make any mistakes especially when it come's to the little person!. unless it was a cunning trap!!! to repossess a profitable house.
For others who are getting payments reduced check to make sure the banks are not putting you into arrears.
We will know more after a meeting is set up.
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