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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Sat May 12, 2018 9:53 am 
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FreeFallin wrote:
Bogman wrote:
Another heartbreaking tale of a hard pressed mortgage holder being turfed out on the street by the vile banks.

Quote:
He said that only a few payments, two of €50 each and one for €200 had been paid off mounting arrears since 2010 and the bank had experienced difficulty in serving Eddie Og with papers. Michael O’Reilly had given the bank his written consent in 2014 to re-possessing the house.


https://www.independent.ie/irish-news/c ... 98116.html


Do the Rev Comm's or the Fraud Squad ever look at the courts pages of the national papers?
Quote:
The bank believed the apartment had been rented out but was unaware of where any rental payments had gone.


The revenue will take note, unless the bank make a compliant I can't see how the Fraud Squad could be involved

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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Thu May 17, 2018 6:55 pm 
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Location: London, innit
https://www.irishtimes.com/business/fin ... -1.3498819

Quote:
Vulture funds are a ‘cancer’ that will trigger thousands of repossessions
Campaigner tells Oireachtas committee State has entered dangerous phase of arrears story

give a fucking guess


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Fri May 18, 2018 8:36 am 
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Location: Lovely Leitrim
Meanwhile

10,000 borrowers should lose homes, says expert

https://www.irishtimes.com/business/fin ... -1.3499156

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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Fri May 18, 2018 8:52 am 
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Posts: 2564
slasher wrote:
https://www.irishtimes.com/business/financial-services/vulture-funds-are-a-cancer-that-will-trigger-thousands-of-repossessions-1.3498819

Quote:
Vulture funds are a ‘cancer’ that will trigger thousands of repossessions
Campaigner tells Oireachtas committee State has entered dangerous phase of arrears story

give a fucking guess


Didn't read the article but Hall at it again. No "tsunamis" this time :x

I wonder how many times he's used similar hyperbole at this stage

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Borrowers seeking mortgages have had to resort to saving deposits, forcing many to sit by and watch house prices tumble without being able to do anything about it. Sunday Independent - June 1 2008

I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them - Bertie Ahern


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Fri May 18, 2018 8:52 am 
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Posts: 2564
NegativeEquity wrote:
Meanwhile

10,000 borrowers should lose homes, says expert

https://www.irishtimes.com/business/fin ... -1.3499156


An expert who understands the principle of secured lending I presume unlike most of the "experts" and "campaigners" you see/hear quoted

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Borrowers seeking mortgages have had to resort to saving deposits, forcing many to sit by and watch house prices tumble without being able to do anything about it. Sunday Independent - June 1 2008

I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them - Bertie Ahern


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Fri May 18, 2018 11:57 am 
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Posts: 585
Bloomberg May 18, 2018 wrote:
Lloyds to Sell $5.8 Billion of Irish Mortgages to Barclays
Lloyds Banking Group Plc agreed to sell 4.3 billion pounds ($5.8 billion) of Irish residential mortgages to Barclays Plc, all but completing the lender’s decade-long exit from the country.

Barclays is likely to bundle the loans and sell them on to other investors, according to a person familiar with the matter, who asked not to be identified because the matter is confidential. The deal is another milestone in Lloyds Chief Executive Officer Antonio Horta-Osorio’s drive to transform Britain’s biggest mortgage lender into a U.K.-focused bank.

The transaction will leave Lloyds with “minimal exposure” to Ireland and while the bank will take a pretax loss of about 110 million pounds on the deal in the second quarter, the disposal should boost its capital buffer, it said in a statement Friday.
More...


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Sun May 20, 2018 9:32 pm 
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Location: London, innit
Image

Sunday Business Post gone full Sindo.
It used to be the only fiscally conservative voice in Ireland

:roll:


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Mon May 21, 2018 6:45 am 
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The SBP's market is middle aged small business owners so it's hardly surprising.

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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Mon May 21, 2018 10:09 am 
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Eschatologist wrote:
The SBP's market is middle aged small business owners so it's hardly surprising.

So small business owner equals overleveraged canny?
It wouldn't have been written while Cliff Taylor was editor.


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Mon May 21, 2018 10:59 am 
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Good argy bargy with Burgess and D Hall on the radio this morning

Also at the Oireachtas Finance Committee

Quote:


First, Askaboutmoney founder Brendan Burgess told the committee that he believes variable rates in Irish bank are high now because thousands of “irresponsible borrowers” refuse to pay their mortgages.

He said there is “no effective sanction” for an estimated (by Burgess) 10,000 people who will not pay their banks, and because of this, the 300,000 responsible borrowers “pay their mortgages for them”.

“Non-payment does not hurt the lenders – it hurts other borrowers. The lenders use the difficulty in repossessing houses as an excuse for charging more. When overseas lenders look at the Irish market and see that it takes years to repossess a home from a defaulter, they stay well away.”

This was at odds with David Hall’s evidence to the committee. The Irish Mortgage Holders Organisation (IMHO) CEO said that there has been a “collective intended or unintended incompetence and/or conspiracy” to ignore the fact that the majority of people who are in arrears can not pay.

Instead, he said, a narrative has been fostered that those in arrears who have not been resolved are “messers, strategic defaulters and non-engagers”.
http://www.thejournal.ie/tracker-mortga ... 1-May2018/

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