"AIB may write off debt on some troubled mortgages"

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The scheme has to be available to all.
As UFC says, who can distinguish between those genuinely deserving help, and the merely feckless. I know of a couple who had a windfall, and spent it on luxury travel rather than paying off loans. Now they are struggling with their loan repayments, but should their mortgage be forgiven?
 
I've been stupidly paying chunks off of my mortgage.
Like an idiot, I wasted my SSIA on it as well.

I should have spent the money enjoying myself.

I won't be paying any more chunks of my mortgage until this pans out, that's for sure.
 
UFC said:
How many people "struggling" with their mortgage are genuinely struggling?

A friend of mine is struggling because his wife doesn't want to work. Another friend of mine is struggling because of her lifestyle.
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Hi UFC

That is a good question. I would suggest that the answer is most people who are struggling are genuine.

But there are those who still want to take holidays and send the kids to private schools and any system will have to differentiate those from the people who are genuinely struggling.
 
The Taoiseach has commented as follows in the Dáil today
The government are obviously interested in options that are out there to relieve the stress on mortgage holders. obviously these will have to be treated very carefully would require authorisation and maybe legislation in some cases.



That is an option we can discuss in the house here
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Source: [broken link removed]
 
Where a person got a mortgage to purchase a house is one thing. Where a person got a mortgage then borrowed against the equity, every time the house went up in value to fund a lavish lifestyle is another thing.
If a person can afford to smoke 20 cigarettes a day and go to the pub three times a week is not struggling.
 
oldnick said:
It will create divisions in society where the majority who have/are paying will feel greatly miffed
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I'm disgusted at this attitude (and know that OldNick is only referring to these people).

The lucky ones who can and are paying feel aggrieved because the unlucky ones who can't pay might get the assistance that they deserve from the State? That's a shockingly greedy, unsociable and uncharitable activity to have.

Those looking for a Blue Peter badge for their "prudence" and "lack of greed" during the boom are deluding themselves. You were lucky. There was no skill or foresight involved. You were either the right age or in the right place at the right time.
 
Gekko said:
I'm disgusted at this attitude (and know that OldNick is only referring to these people).

The lucky ones who can and are paying feel aggrieved because the unlucky ones who can't pay might get the assistance that they deserve from the State? That's a shockingly greedy, unsociable and uncharitable activity to have.

Those looking for a Blue Peter badge for their "prudence" and "lack of greed" during the boom are deluding themselves. You were lucky. There was no skill or foresight involved. You were either the right age or in the right place at the right time.
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Or didn't lie or their mortgage application form.

Or didn't spend thousands on foreign holidays and fancy cars because it was in fashion

Just because someone pays their mortgage every month doesn't mean it isn't a struggle to do so
 
Brendan Burgess said:
Hi UFC

That is a good question. I would suggest that the answer is most people who are struggling are genuine.

But there are those who still want to take holidays and send the kids to private schools and any system will have to differentiate those from the people who are genuinely struggling.
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The courts would disagree with you there Brendan
 
DB74 said:
Or didn't lie or their mortgage application form.

Or didn't spend thousands on foreign holidays and fancy cars because it was in fashion

Just because someone pays their mortgage every month doesn't mean it isn't a struggle to do so
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I'm shocked at the number of crass generalisations in the above post.
 
I haven't mentioned any section of society at all so I fail to see where the accusation of generalisation comes from, crass or otherwise.
 
Gekko said:
Those looking for a Blue Peter badge for their "prudence" and "lack of greed" during the boom are deluding themselves. You were lucky. There was no skill or foresight involved. You were either the right age or in the right place at the right time.
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I didn't buy because I thought property was a rip off. I am also interested in economics so understood the concept of the boom bust cycle. To me it was pretty obvious it didn't make sense to buy.

But I agree with you this is pure luck -- I am lucky I am able to see these things. For whatever reason I happen to enjoy researching things and tend to be suspicious of those in power. I was born this way, or was brought up this way. Most people were not so lucky.
 
Its reasonable to assume that if you have a mortgage you have a job and are making a contribution. This would be punished by posters here. This judgemental attitude shown here is pretty horrific and its no wonder the banks and goverment feel free to drive people to dispair and sucide with the support of those that should know better.
 
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