So Twink paid no money on her mortgage for 5 years
http://www.thejournal.ie/twink-court-mortgage-3026006-Oct2016/
Is it right that every "paying" mortgage customer in the country has to foot the bill for people like this?
It could be falsely argued that the bank is waiting for market value to rise, having the result of reduced/no net loss on loan + benefit of more grace/compassion for what is effectively a squatter. If that was the case with current market projections than why not let every defaulting customer sit pretty for a decade or so and everything will be dandy . . . . . .
There is something seriously wrong with the proposition that people in Ireland have an inherent right to live in a house of their desire (and not of their means). Yet these prolonged repossessions make that delusion a reality, and make the variable rate cohort pay dearly for it.
http://www.thejournal.ie/twink-court-mortgage-3026006-Oct2016/
Is it right that every "paying" mortgage customer in the country has to foot the bill for people like this?
It could be falsely argued that the bank is waiting for market value to rise, having the result of reduced/no net loss on loan + benefit of more grace/compassion for what is effectively a squatter. If that was the case with current market projections than why not let every defaulting customer sit pretty for a decade or so and everything will be dandy . . . . . .
There is something seriously wrong with the proposition that people in Ireland have an inherent right to live in a house of their desire (and not of their means). Yet these prolonged repossessions make that delusion a reality, and make the variable rate cohort pay dearly for it.