Hello,
I'm hoping I can get some guidance on my own situation.
We have a Mortgage with one of the main Irish lenders, we are in arrears of approximately €5k. The lender has offered to role the arrears into the mortgage.
As banks hardly ever seem to do anything for the good of the customer, I'm left wondering, what are the implications of persuing this offer?
I can see that from their statistics point of view, its one less account "in arrears" for them.
And from my own point of view, I wouldnt be paying interest on the amounting arrears.
Having said that, with all the forthcoming happiness thats due in the form of reduced wage, homeowner tax, water charges, increased food prices, health insurance, cost of gas and electricity etc - I'm in no position to say that this time next year I won't be looking to do a deal with my bank in relation to the cost of my mortgage / keeping my home.
Would, in your opinion, agreeing to this deal lessen my chances of such a resolution if one were required?
I was in with MABS some time ago and while we did not discuss this deal at length they did not seem enthused with it.