Vulture Slayer
Registered User
- Messages
- 6
Your mistake is only viewing this from your point of view. Tangar think they can get more. And already the sale price has increased so they will now believe the house is worth more. That's more money for them.
And the words discourteous and disrepectful mean nothing in bank business terms. You are a number to them.
As TLO says you can now play hardball by your ex staying in the house. But without all the facts and figures it's impossible to give any more concrete advice.
Of course you are right, respect and decency doesn't come into it
I would also be tempted to stop paying Tanager anything and keeping the money on deposit in case you need to pay it up quickly as part of the deal. Basically, if you pay and engage you should get 5 years before any court repossession. Not paying will still give you a few years. It all depends on the figures of course which we don't have all to hand.
Ouch Brendan! What are you implying by that?You owe €789k
How much is the property worth on the open market?
If it's worth at least that, then you need to ask whether you are showing the right respect and decency.
Brendan
to cut a long story short we found a buyer off market
Sent back the sfs and now they are looking for bank statements and the like.Ive been to mabs before and have also spoken to a pip.I really thought the bank would want to resolve this as best for both sides,but the only solution they offered is to make full payments,and make overpayments on top!!!.By going whats in the papers they could of bought our loan at a 52% discount,so you would think that they would want to deal.The house was adapted for my wife through a council grant,so leaving the house would be an absolute nightmare for us!!!Ross you need to go and talk to Mabs as a first step. They should be able to direct you to the correct professionalto handle this for you. I would also suggest that you fill out the SFS and send it back to them.
Don't let that letter about the 10 days stress you. It will take them a long time to get you out if that is what they intend on doing. Maybe they will cut a deal with you as your house value is way below the amount borrowed. Your wife being ill will also help you as hopefully they will be kind to you.
Maybe I am wrong, but I get the deal that you might be trying to pull a fast one.
Why did you do it off market?
On rereading your post, I might have been a bit unfair. If so I apologise.
"The figures were €789k owed, Sale price €705k and settlement €670k."
Had they accepted €670k in full and final settlement, even though you were selling it for €705k?
Then it wouldn't matter if you got €750k for it.
When did you agree the deal? It would usually be assumed for a quick sale and close.
Brendan
This is the second case I know of in recent days where a Vulture Fund agreed a deal and then pulled out.
In the other case, the Fund in question isn't even interested in getting their debt repaid (it's been offered); all they want is possession of the property.
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