Would you be prepared to pay higher interest so that people who pay nothing don't get repossessed?

Tebbit said:
' will I get a choice' or is someone thinking of imposing this on mortgage payers. ????
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Its not a question of will you get a choice.

If you are have a standard rate mortgage you are already paying, You have been for a number of years.
 
That is why I thought it a very clever article.

A lot of people think: "Oh the big bad banks evicting people or selling their mortgages to the vulture funds who will devour them."

But if they were given the choice of paying an extra €300 a month to keep people who pay little or nothing on their mortgages in their homes, they would not do so.

Brendan
 
T McGibney said:
Why on earth should your mortgage costs and mine finance free money for "Johnny and Mary" as you call them, more than a decade after the bad lending/underwriting practices in the banks stopped being commonplace?
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Do different people finance Johnny and Mary's write down in a PIA if that's the route they take to stay in their house? If their house is repossessed and they go bankrupt to deal with the shortfall after the house is sold who finances the shortfall ?
 
demoivre said:
Do different people finance Johnny and Mary's write down in a PIA if that's the route they take to stay in their house? If their house is repossessed and they go bankrupt to deal with the shortfall after the house is sold who finances the shortfall ?
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Your questions appear to be supporting rather than rebutting my point.
 
Sophrosyne said:
How is the €300 per month per mortgage arrived at?
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It's a general indication of the amount people are overpaying on their mortgage.

For example, if you have a mortgage of €250k , you are paying around 1.5% more than the eurozone average, which is €3,750 or about €300 a year.

Brendan
 
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