465 reposessions last year, 102 this year so far...

There’s also this.

Anyone know what law this might be?

Step 1. Horse Bolts…
Step 2. Close barn door.

I think this is the extension of IFSRA supervision to non deposit taking institutions.

Unless I’m missing something, that’s a reduction. One third of the way through the current legal term, so we’re on target for 306 overall.

Yes? No?

My readnig of the headline was that for the month of January we had hit 102, which would have put us on target for about 1200 for the year, three times last year.

-Rd

" Trapped by variable, “personalised” interest rates – that can range between 6.5pc and 9.85pc – debtors are also being hit with excessive administration charges and penalties on default of their loans that plunge them into further debt.

Although many homeowners are selling their homes to discharge their debt, judges have warned that the current economic climate is making it difficult to sell property. Mortgage debts are also being exacerbated by “draconian” legal fees as homeowners fight repossession for mortgage arrears as little as €2,000.

Community lawyers have warned that reckless lending by credit agencies and Ireland’s unregulated subprime mortgage market has forced people to borrow at rates they simply cannot afford, leading to increased repossessions. "

independent.ie/national-news … 75636.html

I think that should read ‘first four weeks of the legal term’? If we have 102 already we must be heading for 1000+ this year.

According to the Courts Service, the “current legal term” started on January 11th, which isn’t time enough for 4 weeks either…

edit: is it time for a Daftwatch-style graph of the listings on this page?

I was just thinking the very same thing!

There were 121 cases listed for the 3 weeks to today. The 102 probably refers to the number of summonses lodged in the Central Office of the High Court to date this year.

The growth in reposessions is likely to accelerate sharply over the year. Once the run-of-the-mill high street lenders get in on the act the floodgates will open. Any ideas when that will be? And how will they deal all the repo properties?

I was at a huge house auction at a hotel in the UK in '95. Many of the lots were repo’s and the prices achieved were miserly.

Does anyone know which estate agent is handling Starts repossessed properties? These are probably the only reasonable value properties on the irish market.