Mortgage arrears

[Raskolnikov]

Hi OP. When you eventually get back on your feet as you will. I'd seriously consider moving your business to a bank that will not treat you in such a shoddy manner.

It shouldn't surprise you that banks can be so unscrupulous. My mother used to work for one of the bigger Irish banks and echoed a similar sentiment.

If you've bought recently and had little equity in your home, banks will do all in their power to prevent repossession proceedings. However, if you have a bit of equity in your home (like the original poster), banks will be far more eager to repossess.

Disclaimer, I'm sure this isn't representative of all branches.

 

[Madangan]

Hi OP

I would repeat the comments of others about MABS and meeting bank manager face to face. Also who ever in PTSB trained the people you spoke to should be shot .It is totally unacceptable that a representative of a financial institution should misrepresent the facts to you or any customer in that way. It simply,as others have pointe out, not that easy or quick to get an order for repossession in the Irish courts particularly where the defaulter(i.e you) have behaved in a responsible way and has significant equity.

If I were you I would ask to meet with the manager, put your proposals to him,advise him how disappointed you are in his Bank for their aggressive nature and their misrepresentations and make it clear that while you want to get back on an even keel with them and restore good relations etc... that you are quite prepared if they do not accept your reasonable proposals to put those proposals firstly in writing and secondly,should they choose this option, before the Court.In other words it is no harm for the bank to realise that you are not easily intimidated and that you know how the courts system works. I would also consider a complaint to the Ombudsman for financial institutions. This may seem over the top when after all you are in default but IMHO Banks cannot be allowed to start behaving like illegal moneylenders with bullyboy tactics. What next will they be sending employees to your house with baseball bats emblazoned with the PTSB logo. Its shoddy bank practice and they should be disciplined.

 

[Howitzer]

If you've bought recently and had little equity in your home, banks will do all in their power to prevent repossession proceedings. However, if you have a bit of equity in your home (like the original poster), banks will be far more eager to repossess.

Disclaimer, I'm sure this isn't representative of all branches.

This is also my understanding of standard banking practices. It's simply a better business model.

 

[lizeey]

I loast my job 18 months ago the company folded no redundancy my morgage is €1008 a month over the course of the 18 months i paid as much as i could but have ended up with arrears of €6300. I started renting a vehicle and got a license and started back working 5 weeks ago. i contacted the mortgage company and said i would start paying €300 per week and then when i goot on my feet i would increase it. first 3 weeks no problem then the van brokedown had to get it fixed missed that week paid the last 2 weeks. mortgage company rang me to say that because i missed that week the need at least €3000 euro in two weeks or they will reposses house in 21 days. Mortgage that i owe is €150000 house is value of €600000 have had mortgage total 7 years. This is a very embarresing situation to be in so any constructive advice would be very helpful.

 

[lizeey]

hello.i dont think you have much to woory about ,and you should stop letting those bullies stress you out .they may treatin you ,but there is now judge in the land that will repossese a house when he knows what an effort the home owner is making to try rectify the problem .i am in a simular position myself, and have gotten advice.and it is as follows... if you try your best to make your basic morgage repayments thatsd gud,and no matter how small amount you want to pay off your arrears it is enough for any judge to say you are making an effort