Lost my job, and immigrated overseas in 2012. Bank has consistently refused to forward mail to my correspondence overseas address. Despite completing the relevant form prior to leaving Ireland. We received one letter to our overseas address from our bank in 2012. Then heard nothing until they tried to serve a summons on the tenants in 2014. They denied ever having the overseas address and were communicating with the mortgage address and calling disconnected numbers for two years.
Once the property manager informed me of the situation I contacted the arrears unit and provided my overseas address and mobile number. I was informed that I could not be served and that the summons would be dropped. I was requested to send in a financial statement and payslips etc. Which I completed and heard no more from them until I contacted the bank to change my correspondence address at the end of June 2016. I requested interest statements which I received on the 11th of August 2016 and I queried a “Solr eject cost” and was informed the house had a repossession order granted in April and the three month stay had been completed.
We have been paying on average e950 monthly of the e1090 mortgage since we emigrated are currently 25k in arrears, which is manageable going forward. We have prioritized our daughters Uni fees over the mortgage and smaller personal loans have been repaid. We are now coming out the other end and were fully committed to meeting our responsibilities with the mortgage.
As you can gather we need help going forward and advise on whether it is too late to save the house at this stage.
The possible issues with a repo order hanging over us for the remaining 25 year term of the mortgage?
Is it too late to have the order reversed?
Or is bankruptcy the best way forward? Or possible since we are out of the state for the past four years?
Should we just hand the keys back, and aim for a statue of limitations exit? The bank has my current address.
I am awaiting contact from a PIP in Ireland for professional advise, but would appreciate any ideas you guys might have.
We are fully aware of our role in the problem but also feel the bank has not been 100% clean in their processes. Please be gentle!!
Once the property manager informed me of the situation I contacted the arrears unit and provided my overseas address and mobile number. I was informed that I could not be served and that the summons would be dropped. I was requested to send in a financial statement and payslips etc. Which I completed and heard no more from them until I contacted the bank to change my correspondence address at the end of June 2016. I requested interest statements which I received on the 11th of August 2016 and I queried a “Solr eject cost” and was informed the house had a repossession order granted in April and the three month stay had been completed.
We have been paying on average e950 monthly of the e1090 mortgage since we emigrated are currently 25k in arrears, which is manageable going forward. We have prioritized our daughters Uni fees over the mortgage and smaller personal loans have been repaid. We are now coming out the other end and were fully committed to meeting our responsibilities with the mortgage.
As you can gather we need help going forward and advise on whether it is too late to save the house at this stage.
The possible issues with a repo order hanging over us for the remaining 25 year term of the mortgage?
Is it too late to have the order reversed?
Or is bankruptcy the best way forward? Or possible since we are out of the state for the past four years?
Should we just hand the keys back, and aim for a statue of limitations exit? The bank has my current address.
I am awaiting contact from a PIP in Ireland for professional advise, but would appreciate any ideas you guys might have.
We are fully aware of our role in the problem but also feel the bank has not been 100% clean in their processes. Please be gentle!!
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