I watched the Frontline on RTE last night where a woman told her story,about how she had bought a house had a big mortgage ,was able to pay it for two years,then with all the budgets etc,she could see that in time,she would struggle to pay the full amount.
She said she spoke with the bank several times to see what could be done about this future scenario,but they refused to have a meeting with her.(presumably because they seem to want to wait until the situation actually occurs ).
What I found striking about this is that she went on to say that her situation has got to the stage where she cant afford the original repayments and has STOPPED paying her mortgage altogether!
She said she has had NO communication from the bank for months..
Obviously we dont know all the story,but it is striking that someone can just decide not to pay anything at all,not even the portion she can afford and by the way she is still working!
Will this lead to others following suit? If not ,why not?
Say you had a number of bills on a particular month,can you then just not pay your mortgage?
She said she spoke with the bank several times to see what could be done about this future scenario,but they refused to have a meeting with her.(presumably because they seem to want to wait until the situation actually occurs ).
What I found striking about this is that she went on to say that her situation has got to the stage where she cant afford the original repayments and has STOPPED paying her mortgage altogether!
She said she has had NO communication from the bank for months..
Obviously we dont know all the story,but it is striking that someone can just decide not to pay anything at all,not even the portion she can afford and by the way she is still working!
Will this lead to others following suit? If not ,why not?
Say you had a number of bills on a particular month,can you then just not pay your mortgage?