# €144k arrears - repossession refused despite €140k in investment and a holiday home



## Brendan Burgess (6 Oct 2017)

*Couple with US investment fund given second chance to save their €550,000 home*


This is an indication of how tough it is for the banks to get an order for possession 

House value: €550k 
Mortgage :€440k (of which €144k is in arrears.) 

Repayments €3,500 per month 

Other assets: Investment fund €144k 
Holiday home 


This sounds like at least three or 4 years worth of arrears. 

They have held onto their holiday home during this period, instead of selling it to pay off the arrears. 

The investment fund is a bit difficult as they would be hit with a big tax bill for cashing it early. 

I would guess that they have a cheap tracker and want to keep it as big as possible for as long as possible. 

I hope that the judge told them that in February she will grant an order for possession if they have not cleared the arrears in full. 

Brendan


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