RETIRED2017
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Ah poor Mary, 18 months later and still no sign of her then impending tsunami of repossession ...This was discussed on Sean O'Rourke show this AM. Boxer is now a Minister and was asked if he'd resign should the Govt not progress the bill.
Boxer said it won't come to that as he expects it to be brought in and he hinted that Leo had given him that level of assurance.
Dan O'Brien later warned against the bill. He pointed out that repossessions were practically non-existent. And that this has the potential to keep mortgage rates higher than the Euro average as well as keeping competition out.
Mary Murphy, lecturer at NUI Maynooth, seemed to think higher rates was a small price that society had to pay to keep people in their homes. Especially as she expects a very large ramping up of repossessions over the next 2 years....she reiterated that point a few times!
Cabinet to discuss Bill to support distressed borrowers in Mortgage arrears Today,
It will be interesting to see if the look to see what affect reckless leading has on the amount of distressed Mortgages,
Cabinet to discuss Bill to support distressed borrowers in Mortgage arrears Today,
It will be interesting to see if the look to see what affect reckless leading has on the amount of distressed Mortgages,
I know there are some who will not be happy to be bringing up this subject on AAM
Distressed Mortgage Holders who are experiencing financial trouble due to the practice of neglect from Mortgage lenders in the past,
I know the argument they were Adults they did not have to take the amount of mortgage offered,
The problem is reckless lending pushed up house prices , so the asset the lent against was not worth the amount advanced ,
Who should take the blame ?
Bank shareholders wiped out.The problem is reckless lending pushed up house prices , so the asset the lent against was not worth the amount advanced ,
Who should take the blame ?
I belong to the same stable as your good self , I moved three times buying the property I could afford each time until got to the house I wanted,When we were getting a mortgage, we took the adult approach of considering what we could comfortably afford to borrow, and kept to that limit. We didn't lie on the application, we didn't fudge the figures to get the maximum the banks might give us, and we got a property we could afford. Yes, the banks were giving away easy money, but that didn't mean you had to take it.
I would like to see the not so Adult shareholders stop lecturing others on being Adults,Bank shareholders wiped out.
CEO's all shown the door...albeit on good packages unfortunately.
What more would you like to see happen?
I belong to the same stable as your good self , I moved three times buying the property I could afford each time until got to the house I wanted,
but giving people up to 14 times there annual wages was not very Adult like,
I worked in Manufacture for 25 years If the company I worked for was as reckless as the banks they would be out of Business long ago,
Yours was not reckless borrowing/lending then,there would be a lot less problems if yours was the norm,Anybody who gave 14 times somebody's wages deserved everything they get But who did that? I must be the only one in Ireland that borrowed in 2008 and didn't have money thrown at me. I can't remember what my multiple was but looking back it was about 3 and a half time our wages at the time and it wasnt just a rubber stamp approval.
Did you ever hear the saying easy come easy go, Banks and there shareholders left holding there own baby comes to mind,going by some posters it is only a matter of time before it happens again,When we were getting a mortgage, we took the adult approach of considering what we could comfortably afford to borrow, and kept to that limit. We didn't lie on the application, we didn't fudge the figures to get the maximum the banks might give us, and we got a property we could afford. Yes, the banks were giving away easy money, but that didn't mean you had to take it.
The right-wing leaning need to realise they are being fleeced by there own,I really feel there pain,but there is no cure i am afraid,for the Right wing to stay in power they have to look after the left-leaning better than there own,Enjoy,Bank shareholders wiped out.
CEO's all shown the door...albeit on good packages unfortunately.
What more would you like to see happen?
Confused post no5/ 12 shows you have a good handle on LEO Right-wing leaningRetired2017 - as is often the norm, I'm none the wiser after reading your replies. In fact, I'm downright confused
And where has all this 'right wing/left wing' stuff come from in the past few days? It's a mantra at this stage with you!
We bailed out the depositors and the bond holders, not the banks.Who should take the blame? . . . . The banks of course. They were not pressganged in giving loans to anybody. It was greed and more greed.
Who should take the blame? . . . . The banks of course. They were not pressganged in giving loans to anybody. It was greed and more greed.
The exact same can be said for the Borrowers, they also were not "pressganged" into taking the loans. See my point ?
Between the neighbour and the Banks which was the biggest simpleton or were both simpletons.Was your former neighbour not greedy in taking out those loans? You know, to buy things she didn't need with money she didn't have.
Incidentally, we can't see you on the Internet so it's not really possible for us to read your lips!
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