S
Fine Gael, now the largest party, said it would create a five-year window to allow homeowners to pay two-thirds of the mortgage if that is all they can afford.
They would also allow people in debt to dip into their pension fund to pay off some of the mortgage and give more relief for people who bought at the height of the boom.
yesterday we received a telephone notice from PTSB that our house would be heading down the line of court proceedings.
I find it hard to understand how on the one hand Fine Gael will enable individuals to dip into their pension fund to pay off some of the mortgage and on the other hand take 40% tax of this pension - who in their right mind would do that - surely they will do something to reduce that tax if people are allowed to dip into their pension pot to pay down the mortgage given that the taxpayer is bailing out the banks.
Angela59
I wonder if the banks would accept an instruction to take the pension funds at maturity, and back off bullying us? the mrtgage at 580K(ish) and the pension worth 600K (ish) surely then we could set up a deal for the interest only, I know we are not managing to pay that at the moment, but perhaps since they are "guaranteed" the pension fund, they could reduce the int % on the interest of the loan. We still have 25 years left, or 17 if they look at us assisgning our pension. the fact that really bothers me, is that the banks aren't interested in doing this, does this mean that our pension is not worth this "predicted value"???
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