# PTSB - Offers for settlement of mortgage



## pyzon (8 Jul 2011)

hi, we have emigrated to USA in Feb of this year and left the house on sale.  We owe currently 160k on the mortgage and just today received an offer of 152k.  I rang PTSB and spoke to the phone-call filters who gave me the 'from the text book' response, no you must pay the full amount.  
We can't visit a branch as we are out of the country, they suggested sending a fax to their mortgage division outlining the situation...given the current situation with sales we think we are lucky to get an offer at all and would expect they would take the 152k in full and final settlement as we have no savings.  Does anyone have any experience dealing with PTSB in this regard..?
many thanks


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## Brendan Burgess (8 Jul 2011)

Do you have a tracker mortgage? If so , you can get a 10% credit for any capital payment you make. 

Brendan


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## pyzon (10 Jul 2011)

solicitor asked us the same question and unfortunately no.  wouldnt get a loan either for the shortfall because they could not enforce it if we defaulted as we are outside EU.  They advised to beg/borrow/steal the shortfall and accept the offer hoping it will come to closing.  As we are currently paying the monthly payments without issue the bank will 90% of the time not play ball as they see no issue with our case.  
So we have borrowed the shortfall and hope the sale will come to closure.  Thanks for the response.


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