A Repossession Guide for Irish Homeowners

I wrote a guide for anybody in trouble with their mortgage, if you need it then read it,
if you know somebody who might need it then you can forward it to them, or copy it
to your own site etc. I don’t really care as long as it gets to the people it can help

mortgagebrokers.ie/blog/inde … omeowners/

The guide covers a few things, what repossession is, how you can avoid it, how you can accept loss and
move on, what the legal process is, the new code of conduct for mortgage arrears as well as some info on
bankruptcy, sample documents, and all the bank contact details for their collections departments

I had a think about things, and figured that it would be a good idea to start doing something.
This is what came out of the first attempt.

mb.

As it’s a PDF, you may be well advised to flag this in the post and give people a link to the Adobe Reader download - as a lot of people may not have it by default.

Or upload the PDF to Scribd and give people a link to it there, in addition to the original.

good thinking! thanks!

Yes, those people currently living in 1995 :slight_smile:

did it just in case.

Theres a lot of it about. Even still.

It costs nothing to accomodate the less well informed.

It’s hadly likely adding the link for the Adobe Reader to his webpage is going to result in the dreaded:

Couple of points that might be stressed:

  1. if you are in arrears and/or facing repossession, talk to someone. Ideally speak to the bank because they want you to keep your home and keep paying your mortgage, and if you contact them you will get a better reception than someone who avoids their calls for a few months. if you don’t want to talk to the bank talk to a mortgage broker, solicitor, friend, colleague, relative or even post anonymously on a property/discussion website (boards, AAM, even tpp). The biggest probelm with advice on repossessions is that people have great difficulty applying it to their own situation. They understand rationally that someone in arrears needs to contact the bank but that doesn’t translate into them realising that they actually need to speak to the bank.

  2. ultimately if you don’t have any long term prospects of keeping up with the mortgage payments, you should sell sooner rather than later. So many people, who would have taken a small hit 2 years ago are now looking at a fairly large hit because they didn’t face up to the reality. I know it’s like a dirty word in Ireland, but if you can’t afford a place sell up for whatever you can get and rent - it might save a lot of money and hassle in the long run.

Otherwise, good job. By the way though, don’t be so hard on barristers. Some of them are quite poor and are prepared to work for peanuts!