Louisa2014
Registered User
- Messages
- 14
agreed AlbacoreA there is a lot of ambiguity and it is the right to question the banks process at every turn.
People can be do righteous in comments and opinions but have never actually been in the MARPS process or have had a mortgage sold because of arrears.
Vulture funds are not banks, they are in for a 3 - 5 year turnaround on the mortgage for the profit. in for the " kill"
We must always question banks and processes that's what creates progression and change.
if i had a mortgage sold because of arrears and had held onto my house despite of that then i wouldnt complain too much.
....and if you subsequently lost your house (sorry, that should read "home") because you weren't given a realistic opportunity to clear any arrears that arose through no fault of your own, would you still not complain?
I'm a tad old fashioned, If I borrow money I pay it back, if that takes three minimum wage jobs, no holidays and tight balancing of the books then so be it, my home is my castle and I will work my backside off to keep it.
all those arrears are from the delay in MARPS process.
Yes there are cases it's called being put in arrears by the bank while in the MARPS process, go through the court records and look at the lists. Evictions will happen as the vulture funds are in for the kill 3 - 5 years. they are not interested in your keeping your family home for you, they want to flip it and get their margin. You obviously have never dealt with the MARPS process or a vulture fund.how would arrears arise through no fault of your own? if they are your arrears they are your problem, also are there any verifiable cases of people being evicted in the scenario outlined above?
UB are telling lies, playing with the truth and use a good PR SPIN to say what the " borrowor " is, most of it is arrears caused by their processes while you are paying the monthly payment that they have advised you to. they then sell your mortgage, throw you to the wolves and wash their hands on it.You guys have documented your case and the delays caused by Ulster Bank in responding to you.
Neither UB nor Cerberus have a hope in hell of repossessing your home once you outline those delays to the Registrar.
But it's terribly important that you pay what you can and that you write to the lender repeatedly even if they don't respond.
The good news is that Cerberus will be more efficient than Ulster Bank. They will respond to you and if you have a sustainable mortgage and if you have been paying what you can, they will do a restructure.
Brendan
Where are you getting that information from??May I point out that Most people enter the MARPS process are not in arrears,
You really have no idea what is involved in dealing with the banks on this issue, do you?
I hope you never have to deal with problems similar to mine; if you did, you would perhaps be less inclined to make assumptions and sit in judgement of others.
The good news is that Cerberus will be more efficient than Ulster Bank. They will respond to you and if you have a sustainable mortgage and if you have been paying what you can, they will do a restructure.
Most people are responsible and put their hands up prior to not being able to pay thus entering the MARPS process.
Yes there are cases it's called being put in arrears by the bank while in the MARPS process,
Demographics have been shared from my solicitor and other agencies I have been in touch with over the past year that are dealing with this first hand as their job
Why do you think Cerberus will do a restructure, though? It's just over a year now since I dealt with them, but there is no way they could consider doing one at that time.
I was referring to in the MARPS process UB are putting people in arrears due to their timelines on entering into arrangements with people. When you enter the MARPS process pre arrears, the bank put you in a queue for a call back, you are told to pay a x amount each month. While they take their sweet time getting through the MARPS process you are clocking arrears, they used to backdate the arrangement to your first call so you don't have arrears but now they do not.Hi Louisa
I am sorry but you have no idea what you are talking about here.
A bank can't put you in arrears if you pay your mortgage according to the mortgage agreement.
They can keep you out of arrears by restructuring your mortgage, but they are under no obligation to do so.
Brendan
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