Case study RTE report: "One week until home is repossessed"

Of course there was, this story is nonsense.

He had run up €40k of debt. He didn't run that up in a week or two.

"For two years, he was able to pay back €700 a month with the help of his adult children, but his efforts were of little or no use to the bank, and we received a letter back in October saying we had one week until the house would be repossessed – it is devastating," they wrote.

So he kept his house for 2 years, before they even wrote to him telling him that the mortgage was unsustainable.

Brendan
 
Maybe the wording of the letter was misinterpreted, I received a letter from my lenders stating I had 10 days to vacate my home OR proceedings would be started to repossess the house if I could not discharge the full outstanding amount on the mortgage in the 10 day time frame. In actual fact I got two of the same letter in the one day and another stating the same again a few days later, the only thing different on it was the date.
 
"Up to 30,000 could lose homes to repossession, and in the last week alone the number is 1400, which is unheard of for Ireland," said CEO of New Beginnings, Ross Maguire.

I don't understand this comment. Is Ross Maguire saying there was 1400 cases actually before the courts last week or is this a perceived statistic?
 
Tigger said:
Maybe the wording of the letter was misinterpreted, I received a letter from my lenders stating I had 10 days to vacate my home OR proceedings would be started to repossess the house if I could not discharge the full outstanding amount on the mortgage in the 10 day time frame. In actual fact I got two of the same letter in the one day and another stating the same again a few days later, the only thing different on it was the date.
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Tigger, I am in receipt of one of those letters myself in the past week. I am one month in arrears. I will explain this further in a different thread. Did you write to them regarding this letter?
 
PatrickJ said:
in the last week alone the number is 1400, which is unheard of for Ireland," said CEO of New Beginnings, Ross Maguire.
Click to expand...

There are still thousands of people who simply have not engaged with their lenders and the lenders have no other option except to send these letters to them.

Most people who engage with their lenders get a deal.

Some people have sustainable mortgages, but the banks deem them unsustainable.

Others have unsustainable mortgages and the banks deem them unsustainable.

Brendan
 
Patrick J I am constantly writing to them and phoning. I have now got in the habit of telling them I want the voice call recorded. Yes I made a complaint about receiving 3 of the same letter in so many days in addition to 3 phone calls. I told them it was harassment...they apologized. I asked how many times they could contact me in any given month, they would not put a figure on this but said "reasonable communication" was allowed, so I asked if they felt sending me those letters and phoning me on a number of occasions was reasonable. They tried to blame it on different departments not knowing what the other was doing which I lost the rag with. Told them their different departments had no problem reading from the screen in front of them and able to tell me from that what each had said and done.....As I said they apologized. I have since told them they are not allowed phone me that the only communication I am willing to accept is by letter or email. Their harassment has backed off. Unfortunately they have continued with their proceedings and now tell me I have to communicate with their solicitor. The other day I put in a complaint about this, as any question I asked of their solicitor they could not answer. Simple questions like can you explain to me what I can expect throughout the repossession process.....the answer I got was "don`t worry about that, it will all be explained to you in a letter which you will get about 10 days before you will have to attend court". Needless to say this sent my blood boiling, very upsetting and frustrating.
 
Tigger said:
Patrick J I am constantly writing to them and phoning. I have now got in the habit of telling them I want the voice call recorded. Yes I made a complaint about receiving 3 of the same letter in so many days in addition to 3 phone calls. I told them it was harassment...they apologized. I asked how many times they could contact me in any given month, they would not put a figure on this but said "reasonable communication" was allowed, so I asked if they felt sending me those letters and phoning me on a number of occasions was reasonable. They tried to blame it on different departments not knowing what the other was doing which I lost the rag with. Told them their different departments had no problem reading from the screen in front of them and able to tell me from that what each had said and done.....As I said they apologized. I have since told them they are not allowed phone me that the only communication I am willing to accept is by letter or email. Their harassment has backed off. Unfortunately they have continued with their proceedings and now tell me I have to communicate with their solicitor. The other day I put in a complaint about this, as any question I asked of their solicitor they could not answer. Simple questions like can you explain to me what I can expect throughout the repossession process.....the answer I got was "don`t worry about that, it will all be explained to you in a letter which you will get about 10 days before you will have to attend court". Needless to say this sent my blood boiling, very upsetting and frustrating.
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Tigger.
Lenders are permitted reasonable communication. The catch is what is reasonable ?

I understand your anger ,but anger is not a Resolution.
I do not know your circumstances.
I do not know your Bank (some have different approaches)

What I do KNOW is this ; you are getting serious letters and unless you get good advice you will certainly lose the house.
Please get good advice and with luck you can get a resolution.
 
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