Evidence from the courts fails to support popular 'facts' behind repossessions


Here are the outcomes Cork in October. More cases were cased by the lenders than were adjourned per the practice direction. Many of those not served are essentially the same as being adjourned by the lender as, in some cases, the lenders have chosen not the formally serve the proceedings on the borrower even though they have been issued. The lender seeks a new return date.



Yes, the Central Bank statistics show very low repossessions. But they also show that there has been a huge number of proceedings issued in the past 18 months since the legal lacuna of the 'Dunne' judgement was repaired.
 
demoivre said:
Banks don't want to repossess, the home owner doesn't want to be homeless and mass repossessions have social housing implications for the government.
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As a future house buyer, it's in my interest that repossessions do happen so that a floor can be achieved in the market. Rather than this phoney war of the past 7 years that continues to support high house prices.
 
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