breakonthru
Registered User
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- Encourage a mass withholding of mortgage payments - very, very risky
That essentially is my attitude..
I have encouraged everyone else to do the same..
- Encourage a mass withholding of mortgage payments - very, very risky
- Encourage a mass withholding of mortgage payments - very, very risky
Also can you cancel your direct debit? I thought you couldn't do this?
Other suggestions - I am listing them here for completeness - I don't necessarily agree with them
- Stop paying by direct debit
- Encourage a mass withholding of mortgage payments - very, very risky
Just a thought , but if 300,000 did it , it would work , I think ?
How about cancelling your DD and then paying the mortgage euro by euro?
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The 'coping middle' is just another construct in the narrative of sectoral victimhood that has characterised our response, as a nation, to the financial crisis. Various socio economic groupings - water protestors, SVR payers, those mired in negative equity, those facing repossession / insolvency, public sector workers looking for 'restoration' of pay / pension, the homeless, the unemployed, the 'coping classes', the aged etc - keep shouting and jockeying for position in a notional que.
The ubiquitous threat of 'waiting in the long grass' for the next election is used by all sides - many of whom have competing interests. The idea that those who shout and threaten the loudest will ultimately prevail in this 'primitive struggle for survival' is a depressing concept - made all the more depressing because it's probably true.
I must say I've grown weary from the often times incoherent / inchoate rage filled hysteria that floods the comments sections of publications such as the Irish Times / Irish Independent and latterly this website - where increasingly, rationality has been replaced by single issue campaigns where everybody feels cheated.
People, many of whom should know better, continually express their wish to see their neighbours being turfed onto the street - conveniently ignoring the reality that the vast majority of people in arrears are 'can't pay' as opposed to 'won't pay', that a mere 8% of housing in Ireland is social housing and where there are serious issues regarding rent allowance supplements and consequent homelessness.
People - who again should know better - compare repossession statistics between different jurisdictions whilst wilfully ignoring the critical facts that these 'featured countries' have adequate social housing stocks and rent controls to help the transition from repossession.
There is a finite pie and when one sector gains an extra slice, another - often times more deserving sector - e.g. the homeless - suffer. Anyway - that's my tuppence worth for today!!
Hi Doob
I don't believe I'm missing the fairness point at all.
Is it fair that a substantial percentage of this '300,000' were / are in receipt of TRS, which lessens the net payment to the bank. In our case, we were in receipt of 300 euros per month TRS from the state on a mortgage of 310K from 2006 - 2017 (If we hadn't lost our house). This would amount to 30K plus - if we hadn't lost our home - that the state (taxpayers) contributed towards us having our own home over an 11 year period.
Put it another way, the TRS of 300 euros per month that we were in receipt would currently offset the differential between the average European SVR and the relatively 'high average SVR' charged in Ireland.
I remember selfishly voting for FG in the last election as they were the only party that promised a 5 year extension of TRS for those that had bought in the boom. FG duly delivered on its promise when they entered Government.
It's strange that nobody mentions TRS in the 'SVR debate'. I remember reading in the Irish Times that the Troika were shocked that the state were actively subsidising private ownership of property in Ireland, while neglecting investment in social housing.
I wonder would people consider it 'fair' if the Government suddenly decided to give 300 euros per month for a 10 year period to fully employed and well paid couples who were renting?