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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 9:55 am 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6078
Location: SthDub
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


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 11:11 am 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6078
Location: SthDub
NegativeEquity wrote:

Cue Casino Hall on the 6 one news

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 :lol: 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.


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 11:41 am 
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Old Time Landlord

Joined: Sep 9, 2017
Posts: 361
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.

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Last edited by Epicurus on Tue Apr 10, 2018 11:47 am, edited 1 time in total.

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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 11:44 am 
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Too Big to Fail
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Joined: Mar 7, 2012
Posts: 3366
Location: Lovely Leitrim
FreeFallin wrote:
NegativeEquity wrote:

Cue Casino Hall on the 6 one news

He's over in RTE already...in the Sean O'Rourke studio


He must have some kind of Bat Radar

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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 2:15 pm 
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Planning Tribunal Attendee

Joined: Jan 31, 2008
Posts: 1329
NegativeEquity wrote:
FreeFallin wrote:
NegativeEquity wrote:

Cue Casino Hall on the 6 one news

He's over in RTE already...in the Sean O'Rourke studio


He must have some kind of Bat Radar

Image


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 3:47 pm 
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Planning Tribunal Attendee

Joined: Jan 31, 2008
Posts: 1329
The problem is that Hall has two trump cards to continually play to shutdown the debate.

1. The banks are thieves, liars and are always wrong. 100% of the time.
2. You emotive eviction/homeless argument. It's a no go area for dissent from the consensus.

All heavily sprinkled with Chicken Lickening about a tsunami on the way.


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 9:53 pm 
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Speculator

Joined: May 23, 2009
Posts: 453
Bogman wrote:
NegativeEquity wrote:
FreeFallin wrote:
NegativeEquity wrote:

Cue Casino Hall on the 6 one news

He's over in RTE already...in the Sean O'Rourke studio


He must have some kind of Bat Radar

Image

Good call, about 6 mentions so far on Primetime...


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Tue Apr 10, 2018 9:58 pm 
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Of Systemic Importance

Joined: Nov 4, 2011
Posts: 6078
Location: SthDub
"Make no mistake, the tsunami is coming"

David Hall, Primetime 10th April 2018


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Fri Apr 13, 2018 11:57 am 
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Nationalised

Joined: Sep 29, 2010
Posts: 8808
Location: London, innit
meanwhile in Greece
https://www.ft.com/content/e7a5732c-3db ... 972418fec4


Quote:
Greece property auctions stir anger and violence
Sales of repossessions under EU and IMF deal affect tenth of population



Barbara Sgoura calls it “the most shocking day” in her career as a public notary. A group of masked men armed with a sledgehammer broke down the door of her Athens office and smashed computers, printers and other equipment.

“They stayed less than three minutes but they did thousands of euros in damage and terrified our staff,” said Ms Sgoura. “The police arrived quickly but there still haven’t been any arrests.”

The office attack, which was designed to intimidate, is one of the most dramatic manifestations of the strength of opposition to an apparently innocuous issue — the auctions of properties foreclosed by lenders during Greece’s long economic crisis.

As part of a reform agreed with its bailout creditors, the EU and the IMF, Athens agreed to hold weekly electronic auctions of foreclosed property, replacing sales staged in specially convened courts. Ms Sgoura is one of a small group of notaries handling repossession cases.



The number of properties put up for auction has risen to almost 400 per week. Giorgos Roskos, head of the Greek notaries’ association, said about a third find buyers, among whom are “strategic” defaulters — borrowers who chose to stop making mortgage payments during the crisis.

“We are seeing momentum even though the numbers are not yet very large. And we expect to see many more strategic defaulters turning up at the last minute to make a deal with the bank and rescue their property,” Mr Roskos said.


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 Post subject: Re: Residential Mortgage Arrears, Restructures and Repossess
PostPosted: Fri Apr 13, 2018 12:27 pm 
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Joined: Jan 1, 1970
Posts: 23315
To recap. Here is the opening line from the opening post of this thread, dated the 10th of May, 2012:

TheJackal wrote:
Surely something has to give here soon. The figures are staggering...


See you failed to define soon the Jackal, ya tripped up there. You need to be more rigorous in future K! :o

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