singer1979
Registered User
- Messages
- 1
Hi all,,,, first off I'm new here and this is my first post. Any help/advice with my situation would be GREATLY appreciated. It may take a few paragraphs so I apologise in advance....
I bought an old house at the peak of the boom, it felt like the following week after being given the keys the property bubble burst. Myself and my g/friend lived in the house for nearly 2 years, then our work circumstances changed and along with it a change in location. on advice we were told to rent the house as selling wouldn't be an option. We didn't intend on buying to rent or becoming landlords but that's the way it turned out.
After having numerous bad experiences with terrible tenants one night while the house was unoccupied, somebody broke in stole the copper water tank and left mains water running throughout the house for 3 days. Needless to say the house was ruined. Insurance payout would barely cover getting the house stripped and left like a blank canvas but would definitely not cover replastering, re-wiring etc etc (never mind the broken PVC frames)
Believe me when I say I've had many tearful nights over this pile of bricks and soggy mortar.
Thankfully I am employed but every penny I earn goes towards my rent, general living costs and a bouncing baby boy (with a 2nd on the way) I don't hit the town socialising every weekend, I don't have a fancy car in the drive nor do I take foreign holidays every year. What I earn keeps my head above water.
I haven't been able to cover a full mortgage payment for about 2 years now. Although I have on a couple of occasions when I've had a few extra euros called my bank and paid whatever I could (€50 or €70).... I have received letters from my bank but recently they have become more stern stating comments like 'none compliance'.
I admit I am guilty of burying my head in the sand for a period of time but would now like to take steps to come to some sort of resolve.
I've had some people say I should move up north and claim bankruptcy, The bank manager said I should up sticks and move back to Limerick and reside in the house and pay for it (even after I told him I have a job in Kilkenny and a baby).... I have NO intentions of moving back to Limerick and I'll never earn enough money to pay my rent AND pay off the house. As I said I didn't intend on becoming a landlord but was forced into it due to the nature of the property bubble burst.
does anybody have solid advice concerning landlords in arrears the stress levels are becoming unbearable????
Thanks again and sorry it's quite a read
I bought an old house at the peak of the boom, it felt like the following week after being given the keys the property bubble burst. Myself and my g/friend lived in the house for nearly 2 years, then our work circumstances changed and along with it a change in location. on advice we were told to rent the house as selling wouldn't be an option. We didn't intend on buying to rent or becoming landlords but that's the way it turned out.
After having numerous bad experiences with terrible tenants one night while the house was unoccupied, somebody broke in stole the copper water tank and left mains water running throughout the house for 3 days. Needless to say the house was ruined. Insurance payout would barely cover getting the house stripped and left like a blank canvas but would definitely not cover replastering, re-wiring etc etc (never mind the broken PVC frames)
Believe me when I say I've had many tearful nights over this pile of bricks and soggy mortar.
Thankfully I am employed but every penny I earn goes towards my rent, general living costs and a bouncing baby boy (with a 2nd on the way) I don't hit the town socialising every weekend, I don't have a fancy car in the drive nor do I take foreign holidays every year. What I earn keeps my head above water.
I haven't been able to cover a full mortgage payment for about 2 years now. Although I have on a couple of occasions when I've had a few extra euros called my bank and paid whatever I could (€50 or €70).... I have received letters from my bank but recently they have become more stern stating comments like 'none compliance'.
I admit I am guilty of burying my head in the sand for a period of time but would now like to take steps to come to some sort of resolve.
I've had some people say I should move up north and claim bankruptcy, The bank manager said I should up sticks and move back to Limerick and reside in the house and pay for it (even after I told him I have a job in Kilkenny and a baby).... I have NO intentions of moving back to Limerick and I'll never earn enough money to pay my rent AND pay off the house. As I said I didn't intend on becoming a landlord but was forced into it due to the nature of the property bubble burst.
does anybody have solid advice concerning landlords in arrears the stress levels are becoming unbearable????
Thanks again and sorry it's quite a read