Stays on house repossessions

S

Sean1978

Guest
Hi, I'm self-employed in the construction industry and have been struggling with mortgage repayments with the past year now. I had to rent the house to guarantee part of the monthly repayments and the EBS seemed happy with that for a few months. Arrears are still outstanding. Now the EBS are threatening legal proceeedings again. What is the situation with stays on mortgages? I thought the government mentioned something in the past few weeks after bailing out the banks that they would be expected not to repocess houses for another while. Any advice on this would be appreciated. Thanks
 
Re: Stays on house repocessions

I think it would be worth your while to contact Mabs they can steer you in the right direction, You should go into the bank and explain your case the last thing they want is to put you out of your house.They do not want to have to sell your house at a possible lost to what they are owed if that is the case,maybe it is not.But I did hear it mentioned by Brian Lenihan.
If you owed alot more than what the house was worth and had no other savings and told the bank same and that you just about had enough, they would soon change their mind,It is a standard letter that I think you got sent out.But do ring someone.
 
Re: Stays on house repossesions

Could you try and do the money makeover section on this website so we can get a clearer idea of your financial situation. Also tell us how much is outstanding, the loan amount and term etc. It's very difficult to give you advice on just the above. The banks/lenders are giving people time before they commence procedings but it seems in your case you don't seem to be tackling the arrears as you mention it's been more than a year.
 
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