Where is the help for those paying their mortgages?

D

DB74

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Where is the help for those who are currently paying their mortgage but struggling to do so?

Why should those who cannot pay be afforded more help than those who can?

Why should my neighbour have thousands written off his mortgage just because he lied on his mortgage application and then lost his job?
 
I see the website will represent those legally who are being chased for repossession. An admirable gesture.

However, I see it is being launched by "concerned lawyers"

I doubt they are doing it for the good of society.

Plus, I suspect the majority of people who are being chased for repossession would prefer to hand back the keys and start again without having a debt hanging around there necks for life.
If the builders and banks are bailed out by NAMA then why not the ordinary homeowner?
 
The_Banker said:
Plus, I suspect the majority of people who are being chased for repossession would prefer to hand back the keys and start again without having a debt hanging around there necks for life.
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So?

You borrow - you pay.

I'm sick to death of people in this country failing to take responsibility for their own failings and expecting others to pay for it


The_Banker said:
If the builders and banks are bailed out by NAMA then why not the ordinary homeowner?
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And how exactly are builders being bailed out by NAMA - if anything they are being bailed out out by hiding behind limited liability status.
 
DB74 said:
[broken link removed]

Where is the help for those who are currently paying their mortgage but struggling to do so?

Why should those who cannot pay be afforded more help than those who can?

Why should my neighbour have thousands written off his mortgage just because he lied on his mortgage application and then lost his job?
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You sound like a bitter person. Why not throw everyone who cant afford their mortgages out on the street and try and improve society that way?
 
redbhoy said:
You sound like a bitter person. Why not throw everyone who cant afford their mortgages out on the street and try and improve society that way?
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Your correct, he/she does sound like that.

Most countries in the developed world has a form of debt forgiveness. Ireland doesn't.

Have the banks not been bailed out by the tax payer? Or am I missing something DB74?
 
redbhoy said:
You sound like a bitter person. Why not throw everyone who cant afford their mortgages out on the street and try and improve society that way?
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Emotive nonsense.

You don't end up on the street if you can't pay your mortgage. You rent like everyone else who doesn't own their own home.
 
Not bitter at all. Just don't see why someone who borrowed heavily to buy a house should now be forgiven some of that debt just because they can't afford to pay while others who continue to make the repayments end up making up the shortfall in one way or another.

Let the banks repossess and let people rent their home.

Lenient bankruptcy laws merely encourage people to default on their debts. Look at David Drumm.
 
The_Banker said:
Have the banks not been bailed out by the tax payer? Or am I missing something DB74?
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I never mentioned the banks.

However you mentioned the builders and I have yet to see an explanation as to how the builders were bailed out by NAMA.

AFAIK a builder with a loan of €20m sees his loan transferred to NAMA for a discount. However he still owes the €20m and is pursued for the full amount by NAMA.

If the money is actually owed by a Ltd company (as opposed to owed personally) and he chooses to liquidate then this is not something he couldn't do anyway irrespective of who he owes his money to.
 
What's the point of this thread? You give out about people receiving help but then you ask where the help is for people who are paying but struggling? Also there is no debt forgiveness in place so what help are you referring to?
 
although it is very sad to see so many people struggling to pay their mortgage, you have to look at both sides of the argument here.

If you let people off with debt which they voluntarily took on themselves, it is taxpayers who will be bailing them out, not some mythical organisation, Gov or bank.

And as you can imagine, this is why many get angry about it. Why should people who were sensible pay for the mistakes of others?
 
DB74 said:
I never mentioned the banks.

However you mentioned the builders and I have yet to see an explanation as to how the builders were bailed out by NAMA.

AFAIK a builder with a loan of €20m sees his loan transferred to NAMA for a discount. However he still owes the €20m and is pursued for the full amount by NAMA.

If the money is actually owed by a Ltd company (as opposed to owed personally) and he chooses to liquidate then this is not something he couldn't do anyway irrespective of who he owes his money to.
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Hmmm... The rumours about property developers being paid €100,000 per annum to run there defunct empires must be just that... rumours..
 
redbhoy said:
Should I have to pay part of my taxes towards the cancer treatment of smokers when I dont smoke?
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What if those who didn't smoke had to pay for their own cancer treatment because only smokers get state-funded treatment?
 
DB74 said:
Not bitter at all. Just don't see why someone who borrowed heavily to buy a house should now be forgiven some of that debt just because they can't afford to pay while others who continue to make the repayments end up making up the shortfall in one way or another.

Let the banks repossess and let people rent their home.

Lenient bankruptcy laws merely encourage people to default on their debts. Look at David Drumm.
Click to expand...


What about people who have absolutely no way of making up the shortfall? People buying modest houses at inflated prices during the boom because they wanted to get on the property ladder and have the security of a home for themselves and their families before prices rose even further (as many people thought they would) are not the same as people who just ran up irresponsible debts treating themselves to big cars, fancy holidays, revamped kitchens, designer clothes etc.

Casually saying 'let people rent' would be fine if the rental market was properly regulated here. Because it's not, many people don't want to find themselves in late middle age living in rented accommodation with no security and limited rights.
 
DB74 said:
What if those who didn't smoke had to pay for their own cancer treatment because only smokers get state-funded treatment?
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I think we're on the same level here, somehow.

I used to think that benefit recipients shouldnt be receiving free housing when Ive to work my posterior off to pay mortgage and associated costs but some lad on the radio explained it way better than I could. Basically you need to help the less well off in society for society not to descend into a cesspit.
The blame should be on the government and not on the 'victims' of the property bubble. Some bought when they shouldnt have because they were sold the lie that there would be a soft landing and then a plateau. Banks, Mortgage Lenders and Brokers, Government and some economists were complicit in this lie. We should focus our anger at those crooks.
 
What about the people who borrowed the deposit from the credit union and told the bank it was savings.
Or inflated their overtime earnings.
Many did, sure I read threads here on AAM asking for advice on it
They may have been sold a lie, I also remember the soft landing. Plenty did lying of their own on the applications.


And for those that didn't. Sure they wanted the security of their own home, I've dealt with my share of rogue landlords.
liaconn said:
People buying modest houses at inflated prices during the boom because they wanted to get on the property ladder and have the security of a home for themselves and their families before prices rose even further.
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Property ladder you say. Ladders go up and down.

redbhoy said:
The blame should be on the government and not on the 'victims' of the property bubble.
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I see no victims here, you signed a contract so you pay it. If you can't sell up and rent and get advice on the debt.
If you start debt forgiveness for some sure why don't I jack in my job and try to get some debt forgiveness for myself
 
micmclo said:
If you start debt forgiveness for some sure why don't I jack in my job and try to get some debt forgiveness for myself
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Theres loads of other options out there for you too. Single parents allowance, child benefit, rent allowance etc etc. Why dont you do all those too?
 
I don't particulary want to pay for the health costs incurred by someone who smokes or drinks. I don't want to pay the cost of social housing and child benefit for someone just because they get knocked up at 16. I don't want to pay the dole to someone that hasn't worked a day in their life. I don't want to pay for drug treatment programmes for people stupid enough to take drugs. The list is endless of people I don't want to pay for....

I don't think there should be debt forgiveness at the expense of the taxpayer but there a lot of things that the taxpayer is expected to pay for that isn't fair.
 
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