Mmm Will the Govt fund the next logical step for Hall…buying up bad loans from the likes of Ulster that are not Irish Govt. owned? What universe are we in that Hall and the Irish Govt are now in the business of managing distressed asset sales.
Charlie is on SOR on Radio 1 now outlining his harrowing experience
And Charlie’s on Claire Byrne now with Michael McGrath and Brendan Burgess
Gilsons lose €1 million family home in Castleknock
classic equity release on home to buy another property, close to retirement age, and no way to repay when income dropped
It took the bank 4 years to contact them after arrears had started
“Judge Jacqueline Linnane said in the Circuit Civil Court she considered the €800,000 valuation the Gilsons had put on their Castleknock, Dublin, home as “conservative” and advised them to sell it before the bank did.”
It was up for 830k on 30 Jan 2018 with Lloyd Daly.
1MM is fairly ambitious? It’s not Deerpark or Mock-Georgian Village
Nice headline…I guess 2,700 wouldn’t have the shock factor, not that 8,200 does either givn the extent of defaults here
Homes of nearly 8,200 Irish mortgage holders repossessed since crash
Central Bank governor reveals extent of house repossession in Ireland since crisis
irishtimes.com/business/eco … -1.3421091
Cases heard under garda surveillance after ‘hand grenade’ threat made against judge on Facebook
independent.ie/irish-news/c … 09851.html
Latest Central Bank Arrears figures are out. Pretty Charts here. The rump of non-performing loans is looking pretty stubborn. Also an interesting post by BB over on AAM with some info on PTSB’s star non-performers. “It takes 32 attempts on average to get a non-engaging customer to take a call”.
And BB also attempts to work out the number of Strategic Defaulters across all banks based on PTSB’s figures
PTSB before the Dail PAC committee today.
A snippet on the news just there, John McGuinness of FF said to Jeremy Masding of PTSB
“You’re the ones who caused the financial contamination in the first place”
Masding agreed that PTSB were a player but astonishingly did not put that showboater McGuinness in his place by pointing out FF’s part in the crash also. Sickening stuff
On the day this country launched yet another attempt to get a simple fucking metro from the airport to Dublin city. Total cost €3bn.wow
How much has strategic defaulting cost the exchequer over the last decade, with more to come. I’m sure it would go a way to building a metro or two.
**Residential Mortgage Arrears, Restructures and Repossessions Q4 2017 figures **
centralbank.ie/docs/default … f?sfvrsn=4
From today’s Business Post:
And in the IT:
Cue Casino Hall on the 6 one news
CB currently only publish 2 years+ in arrears in their quarterly release. I’ve argued this should be extended to 3+, 4+ and 5+.
That press release is here
centralbank.ie/news/article … April-2018
and Report here
centralbank.ie/docs/default … d-o’keeffe.pdf?sfvrsn=6
Enough. Bring this ongoing joke to an end. We’ll still be looking at stats and talking about it in another 10 years if the respossessions don’t start to happen and soon
He’s over in RTE already…in the Sean O’Rourke studio and he’s managed to get ‘Tsunami’ into his opening salvo.
Seamus Coffey said the CB report shows that the average default period of the 14,000 is 5 years. And these 14,000 in the report are only about 45% of the overall long term arrears out there.
Coffey has just accused Hall of making up stuff over definitions of engagement Hall believes it to be getting a different person on the phone every time you ring the bank. Coffey points out that its actually around the # of missed mortgage payments.
Hall has said 90% of the people he has dealt with still have their home, 10% lost out.
As I understood it Coffey pointed out the condition to be satisfied is that the mortgage holder engages/communicates with the Bank. So that can be as simple as a phone call or two. Casino Hall then went on about Bank call centres having systems to rotate calls around. So the defaulter would get a different person dealing with their case each time they call. Oh the indignity.
At least we got Coffey putting it up to Hall, rather then him getting a free run and advertising on RTE as he usually does. Thd ECB is pressurising the Dublin branch to be seen to get some movement on arrears, as it is an embarrassment to compare figures across Europe. The arrears industry is such, that nothing would even be raised on this issue if Dublin was left to it’s own devices.