H
Maybe it is time to stop touching the forelock.
As a matter of interest, why have you two mortgages?I am writing this as an unemployed person with two mortgages - both 6 months in arrears. Have three kids in College/ School.
Again these are just suggestions and maybe entirely unworkable.
I think there is too much drift and no solutions execpt those handed down by the banks
In reply to So-Crates -
I am not a banker or expert but just putting forward a suggestion for alternative thinking which I hope maybe can tie in with what some others might be thinking – start a debate. Not really interested in getting into a tit for tat defence of an undeveloped proposal, as it is just to easy to say –‘this not work – that not work’. Committed and positive people need to see what can be done - not what cannot be done. I really don’t have all the answers and would invite others with suggestions to come forward.
As a matter of interest, why have you two mortgages?
Correct. They are unworkable. You are asking other taxpayers to subsidise your interest rate.
This is trotted out all the time. The banks and the Central Bank have come up with many solutions.
70,000 mortgages have been rescheduled by those banks.
Fewer than 1,000 houses have been repossesed over the past two years - and most by sub-prime lenders.
A Deferred Interest Scheme was introduced for those who can afford to pay at least 2/3rds of the interest.
The banks have been banned from charging penalty interest
The banks have been banned from switching people off trackers.
The banks have been banned from harrassing people - maximum 3 calls per month
18,000 people are getting Mortgage Interest Supplement from the taxpayer
Borrowers who bought at the peak of the market are getting additional tax relief
The Local Authority rules were changed so that people can now qualify for local authority housing before they are actually put out on the street.
But some people want the taxpayer to subsidise their interest or to subsidise debt forgiveness. This won't and should not happen.
What does need to happen, is that those who have unsustainable mortgages, should lose their home and have their mortgage written off. The legislation is in train to achieve this, but it will take some time to implement.
Brendan- who will cover the cost of these write offs?
What does need to happen, is that those who have unsustainable mortgages, should lose their home and have their mortgage written off.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?