Sell off of Ir N'Wide Mortgages-ask Finance committee to investigate?

[galen1]

Hi all,
As a former holder of an Irish Nationwide mortgage for a residential property, I feel agrieved that I was not offered to purchase the mortgage at the discounted rate that the vulture funds were offered. I know some of us lobbied at the time for this, but were ignored. I had to sell the house to pay off the vulture fund, had I been offered the discounted rate I would have been able to keep the house.
Are there any other people out there willing to share their stories about this? I want to lobby the politicians to request that the Dail Finance committee holds hearings into this sorry tale.
Thanks in advance,
Galen

 

[Brendan Burgess]

This battle was fought and lost at the time.

You had no right to buy your mortgage at a discount but it would have been nice if the liquidators had offered you the opportunity.

There was no illegality. There was no improper behaviour.

Nothing for the Finance Committee to investigate.

Did the vulture fund do a deal with you on the shortfall or are they still pursuing it?

Brendan

 

[galen1]

I realize that nothing illegal happened. It is just that the decision of the Government at the time to ignore the actual owners and sell to vulture funds was, in my opinion, one of the most anti-citizen actions taken by an Irish Government ever. I, for one, would love that Michael Noonan got a grilling by the Finance committee on why he ignored the actual owners of the properties, i.e. the 'little people' and sold the the big vulture funds.
I don't think that there has to be suspect illegal activity for the Finance committee to investigate something.
I just want to see if there many people who frequent this site that lost out badly here, and who would help me lobby for a Finance review of this.
In my case, I have sold my property, settled up, and my saga is over. It was extremely stressful though, and I know I was one of the lucky ones that got away relatively unscathed.