This is the gaff!
Edit sorry Johnny : repost
Yes, I can see how they would reach that conclusion, the comparison is obvious.
For crying out loud! Why are 2 elderly pensioners living in a 3,800 sq/ft home with 5 bedrooms!?
I don’t see a problem with ‘elderly pensioners’ living in a 3,800 sq/foot home, or a 38,000 sq/foot home for that matter, if they can afford to and want to. How does one decide who gets to play God and decide what type of housing is and is not suitable for certain types or age groups of families?
The problem with this couple is that they can not afford to and seem to believe that because they are old, they are entitled not to ultimately be evicted from a house that they are not paying for.
Christ on a bike, according to RTÉ they haven’t made payments since June 2010 and wouldn’t disclose how much they owe.
Evictions are always sad, and i’m sure these people would be just as understanding if one of their tenants had reneged on rent for nearly 2 years
How many other properties do they have??
Somebody should have shown them the freeman video from Portlaoise, it might have bought them a few days.
What eejit gave them a mortgage in their mid 60s…
They own another few gaffs - article is total balls.
Or indeed when ‘details’ leak out about where the money has gone - children with mortgage free houses, holidays, Madoffs etc.
Not saying that’s the case here, but some of the ‘rich’ will have borrowed and spent on bling…
This is an example of a real eviction in the classic sense by a landlord. Where was the media outrage at this event? What did this poor woman get for her trouble? She was leftliterally homeless without any notice. And what did she get for this? A poxy 2K for all this trouble.
That’s what I meant. If you’re elderly and cash poor, the last thing you want is a McMansion of a home to maintain. Considering they have a property portfolio to manage, you would assume they have help to maintain this house. Notwithstanding, they could easily rented this gaff out for €3k a month and found smaller and more manageable lodgings for 1/3rd that cost. Obviously these elderly folks are worth it and the notion of actually trying to pay back your own debts is beneath them.
So much for young people in this country having an entitlement mentality.
Be interesting to see the different newspaper headlines tomorrow.
What bank was it? Did I hear in the last video him saying “Anglo Irish Bank”?
Yes, and Anglo didn’t exactly loan to Joe Public did they?
If the court orderer was granted in 2010, you would assume they have been in default since around 2008, so we can take it there are probably 4 years of arrears. Plucking a figure out of the air and assuming a €1.5 million mortgage over 30 years at 4% interest, monthly repayments are €7,161 a month or €85,932 for the year or €343,728 for 4 years. That’s assuming these people even have a decent chunk of equity and completely ignoring the compounding effect of interest that accrues on top of interest.
This, I reckon, is an effort to put the frighteners on the rest of the gilded class… when we see NAMA do the same, we’ll know that NAMA are serious. I won’t be holding my breath.
IBRC / NAMA - not difference in the minds of Joe Public. This will have an impact (IMHO).
Delighted. They had two years to get their affairs in order. This is not an innocent victim - retired accountant and landlord.
If they’re resorting to publicity like this, it makes me wonder what type of landlord they are. Is it wrong to want to see an expose in the DailyMail tomorrow?
I wondered if maybe the mortgage wasn’t taken out on this house at all, and that it was wholly owned and paid for, but that it was put up as collateral when borrowing to fund the buy to let portfolio. If the BTLs all have sitting tenants then it makes sense for the IBRC to go for the biggest fish first.
Headline on front page of Indo
“Eviction drama on Millionaires row”