Irish Moral Hazard Organisation (IMHO)


I need to run out and buy me a gaff NOW!


Everyone stop paying everything now. Your Government loves you! Have no fear! 8DD

  • You must own the property you live in, with a current market value of less than €220,000 in the Dublin area or less than €180,000 in the rest of the country.

I will study this to understand it more, but on a pr level I still kinda think that to the casual browser/voter, it looks like homeowners (seen as ordinary, hardworking, much sympathy) are being helped from being evicted, whereas it is that borrowers (seen as speculative, possibly greedy) are being helped out of negative equity loans without giving up the use of the asset the loan was secured on. I will inform myself better about the financial details, and thanks again sincerely, but presentationwise, a little stroke is being pulled. There would be an automatic perception that if you own your home, you should be allowed to stay in it. The gut reaction from the casual viewer would be more towards ‘well, that seems fair’, but none of the people availing of this scheme own their homes. I’m not even arguing against the scheme, yet, and I could be wrong, but I think that phrase is a little misleading, and considering where it comes from, this is probably not an accident.

Michael Noonan calls them 30.000 homeowners aswell, instead of 30,000 borrowers. You’d help homeowners before you’d help borrowers, knowhatimean? Throws in a few ‘families’ and ‘sustainables’ for luck.


Two Gaffs must be raging that he did a jingle mail. He could have held on to the houses if he had been more brazen


I get what your saying. The public’s reaction is more positive to the word “homeowner” than to “borrower”. “Homeowner” omits the important fact that the “home” was bought with the Bank’s money.

And yes you’re right, it is effectively writing off the negative equity while they keep the house (with no maintenance costs going forward).


This is some kick in the teeth for anyone who sat on the sidelines cribbing and moaning in 2007.

There will be Canny’s who bought 600k houses in 2007 on 100% interest only mortgages.
Paid the mortgage for a few years and stopped in 2011.
Thus far they have had 4 years free housing.
Now they get to rent the house for 5 years whilst housing authority pays the maintenance.
In 5 years time they can recover their finances and their credit rating and buy it below market value because you can be damn sure the house will hit the open market.

If we vote these clowns in again in four years time they will be announcing low interest loans to help the mortgage to rent people buy their own homes back.


How would you buy the house back as I assume your credit rating is shot from the previous non payment?

Unless you can save enough from not having paid any mortgage or rent for long enough that you can buy it for cash :smiley:



  1. Buy house. Don’t pay mortgage for 7 years.
  2. Sell house to Housing Association. Don’t pay rent for 5 years.
  3. Use 12 years of savings to buy house back for cash and live mortgage-free.
  4. Laugh at your neighbours.


2000’s - Get Rich Quick Scheme 1
Let’s all get rich by selling property to each other. This probably only failed because of the “cribbing and moaning from the sidelines” as decried by our great leader.

2010’s - Get Rich Quick Scheme 2
Let’s all get rich by not paying for the property bought as part of Get Rich Quick Scheme 1 by either living in it for free or collecting rent for it. What could possibly go wrong?


Casino owner David Hall gives me great hopefor I may have my day yet!

Then there was the 7 year regret!

Then there was this possibly my most perfect plan for 2013!


State assistance now based on value of house rather than need. That is fundamentally wrong.
The same goes for insolvency with arbitrary cut-offs depending on amount of debt.


That won’t bother them too much. They’ll just crib and moan about it and sure they love doing that. :smiling_imp:


There was a bit of a ding dong last night on The Late Debate on the latest govt proposals. They got the rolodex out
Kieran O’Donnell, Fine Gael TD
Ruth Coppinger, Socialist Party TD.
Niall O’Connor, Irish Independent.
Brendan Burgess,
Noeline Blackwell, FLAC

If IMHO had a spokesperson willing to wander to Montrose, they’d have been able to reinforce Burgess’s points about the farce of the notions.


I had the misfortune of hearing Noeleen on the Last Word yesterday :unamused:

Now normally I’d have a lot of time for the FLAC; but they seem to have become just another QUANGO, firmly dedicated to giving all the grease to the squeaky wheel & ignoring those who actually might have a legitimate need :frowning:

Herself & a spokesman from the PIPs group were on, & for once the VI wasn’t looking for more taxpayers money, it was Noeleen. On the whole, they were happy with the Banks losing their veto on Insolvency proposals, but Noeleen wanted more. She wanted help for those in Insolvency who had no money; she thought that taxpayer should pick up the tab for the Insolvency specialists fees, cause after all, how can they avail of an insolvency otherwise ?

How she asked could they hold onto their home thru a PIP, if someone didn’t pay for the Practitioner ?

She suggested, they would need perhaps a, ‘zero payment plan’ XX

Needless to say; the gimp standing in for Matt didn’t ask exactly HOW THE FUCK, someone with, No Money, & no prospect of any money, should be entering into an insolvency, while naturally holding onto the asset they aren’t paying for …

‘Zero Payment Plan’. An Irish solution, to an Irish problem ! XD XD XD XD


This very brief article in the IT says it all. All of the recent politician talk about ‘deals’ for defaulters has led to… yes you guessed it, an increase in short term mortgage arrears! 8DD

This is the first increase in short term arrears in a very long time.

Well done lads. Great job. No such thing as strategic defaulters :angry: … -1.2212571


Think they are going to discuss it on Prime Time now. Will be the level of analysis we have come to expect no doubt…


Govt’s new proposals now being discussed on Prime Time

#398 … -1.2232669

Another stellar contribution from Kitty Holland :unamused: … -1.2232643




Kitty Holland happens to be the daughter of two prominent IT writers . If a Sindo writer had her well documented track record of shit journalism nepotism would be assumed