IL&P arrears 'may have peaked'

irishtimes.com/newspaper/bre … king6.html

So that’s that then :slight_smile:

Phew… that pesky property crisis was becoming to be a bit of a nuisance…

Let’s just ignore how those currently in trouble will manage to sort their little problem out :slight_smile:

They don’t seem bothered to mention the actual arrears rate. I guess we should trust them.

“demand for loans has declined further” - time for banks to start dropping interest rates then?? XD

Its a may, as in may be, as in the month of May. As in it may rain tomorrow. Its may, or May

So IL&P say arrears may have peaked. Then also arrears may not have peaked.

Think I picked up somewhere that they said 1000 mortgages were in arrears and that this represented 4% of the mortgage book.
Would have thought they’d have more than 40000 mortgages…

8,000 => 200,000

rte.ie/business/2010/0514/ilp.html

Not terribly PC of me I know but Permo’s grip on reality for me is best symbolised by the apparent life and death struggle of Gillian Bowler’s face muscles with whatever has been done to them or pumped into them. Neither is patricularly edifying but as always the truth about any crumbling structure is only evident when it can no longer be shored up.

Go watch her on the nine o’clock news attempt a better explanation for either assertion.

Permo closed @ 2.39 a pop - wouldn’t give you 20 cents a pop.

Go ahead beat me with a stick for stating the obvious :mrgreen:

  • ‘the company said the number of loans more than 90 days in arrears continued to climb, reflecting the growing number of people who were mad unemployed’ *
    There but for the grace of God …

Looks like the Irish Times has been outsourcing some editorial functions to the Grauniad :mrgreen:

I agree with you that they are putting on a brave face and there is most likely a crumbling structure underneath, but at the same time I worry that we are both wrong! Perhaps we are judging it on a hunch, which is heavily influenced by what has gone on and the lies told so far. If we are wrong then the stock price is a bargain.
Given that it is not in receipt of any government capitalization or involved in NAMA maybe, just maybe, it has limped through and will emerge stronger and begin to recover. What I cannot seem to get a handle on is the empirical evidence. Do you have a mathematical reasoning for your view, i.e. potential bad debts versus assets/potential profits. As stated; I don’t. I just have a bad feeling about the group, we’ve all heard stuff talked up before while it was sinking into the abyss, but these guys have survived so far without help…
And yes I did watch the nine o’clock news :smiley:

@Doyler

I genuinely believe there is a significant rotting corpse. I cannot give specific reasons for that on here but I have already personally put my own neck right out on a stalk. I have been to the 5th floor of the Central Bank building on this and have bet my own balls on what I think was the right thing to do.

Yes folks you heard it here first

Everything comes out in the wash eventually… XX

Okay sounds like you have more than a hunch!
Not sure what the 5th floor means?

The Financial Regulator occupies the 5th floor of the Central Bank building or did the last time I was there…