So the home owners get to effectively skip people who have been on the housing list for years, stay in the homes they can’t afford (with a % of rent paid by govt/taxpayer) and potentially buy them back later if circumstances allow, meanwhile the banks get rid of the bad debt and the govt avoid ugly headlines about turfing families out on the street - everyone wins…except everyone else.
Good synopsis pm1977. Does anybody know what the new home value and income limits will be?
If they are high, then this is fu^king a shocking state of affairs. The message to the masses is, dont pay your mortgage for over 2 years (with no recourse from banks), if by some miracle that court proceedings are issued, sure dont worry about it the court registrar will put it back at least another 18 months, so don’t bother engaging with the bank. After about 5 years and after you have saved up a nice nest egg from non-payment of your mortgage, engage with the bank and sure it’s no problem your debt will be written off and you get to stay in your home paying some rent, skipping the social housing list. As if you were going to live in social accommodation! Now off with you and buy a 4x4 and a case of prosecco! (with the cashola under the mattress, or in your AIB account, from not paying your mortgage)
All the while the other plebs who didn’t go bat shit crazy and take out unsustainable mortgages at the height of the boom, can go and fu^koff and buy a crappy house in the commuter belt because there is no availability in the urban areas, because it is full of fuc^ers who won’t pay their mortgage.
Only in Ireland! Great little country!
I am hoping this is an election stunt that will never go ahead!
I don’t really have a problem with them getting housed straight away as they’re (kindof) contributing a house to the system, however if under social housing criteria they qualify for a two bed house and they have a for bed, they should get the next available two bed while the four bed goes to the next family eligible for a four bed gets the four bed.