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 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Mon May 13, 2013 12:00 pm 
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Under CAB Investigation

Joined: Jun 5, 2008
Posts: 1997
Location: I like Dalkey
Very interesting thread on Politics.ie on NAMA and its role in maintaining inflated property prices........

NAMA versus the Grim Reaper

http://www.politics.ie/forum/economy/21 ... eaper.html

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 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Thu Jan 16, 2014 7:03 pm 
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Too Big to Fail

Joined: Feb 6, 2007
Posts: 4201
The spin makes my head hurt.

Quote:
NAMA is to close its “80/20” mortgage scheme which was designed to protect buyers of houses from the agency from future house price declines.So far 112 houses have been sold to buyers who opted to use the scheme.

“The fact that buyers are no longer actively seeking protection from price falls is a welcome sign that the housing market is stabilising and returning to more sustainable, normalised conditions,” the agency said in a statement.

The National Asset Management Agency (NAMA) said that the so called deferred mortgage scheme will be closed to new buyers from the end of May this year.

http://www.independent.ie/business/namas-8020-mortgage-scheme-set-to-close-29923043.html

280 properties were available under the 80/20 scheme
http://www.irishhouses.ie/nama/nama-180-houses-mortgage-scheme.php

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 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Tue Mar 25, 2014 11:00 pm 
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Property Magnate

Joined: Jan 14, 2009
Posts: 700
Unsurprisingly, Namawinelake was on the case.

http://www.asktheeu.org/en/request/ireland_national_asset_managemen#incoming-3897

Request submitted on May 11th 2012. Partial response received on May 8th 2013. Further documents submitted up until January of this year.

NWL shut down his/her blog on May 19th 2013,

The European Commission (18/12/13) wrote:
As I have stated above, the Commission carried out a second consultation to the Irish authorities pursuant to Article 4 (5) of Regulation 1049/2001 before taking a definitive decision on the disclosure of the requested documents.

The re-consultation was sent on 4 March 2013 to the Irish authorities, who were invited by the Commission to follow a more detailed assessment in view of granting at least partial disclosure to their documents. The Commission thus asked the Irish authorities to identify those parts in the documents that do not contain information that should be protected.

The Republic of Ireland sent its reply, with a delay longer than the 5 working days previewed, on 28 June 2013 where it refuses any kind of disclosure. However, after a prima facie assessment, no clear reasons were found to support this decision in its entirety. In
consequence, the Commission decided to give access to part or to some of the documents following the ruling of the Court of Justice by which the Court highlights that the Member State is required to state the reasons for its objection with reference to the exceptions provided for in the Regulation.

Indeed, the mentioned judgement stresses that where no such reasons were provided, the institution must, if for its part it considered that none of those exceptions applied, give access to the document that had been asked for.

Therefore, the Commission found itself in the position to grant access to the documents or parts of the documents that could be disclosed.

Nevertheless, since the Commission is taking this decision against the objections of the Irish authorities, it will inform these authorities of the decision to disclose the documents. I


Does anyone have the time and knowledge to go through these and explain it to me like I'm a child like he/she used to?


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 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Wed Mar 26, 2014 10:12 am 
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Holiday Home Owner

Joined: Sep 6, 2009
Posts: 329
Location: In the land of Menolly's fools gold
Didn't go through anything but I live now in one of these NAMA estates. A lot of units have sold in the past 6 months and the final units have increased in price although they were showhouses.


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 Post subject: Re: NAMA Guaranteeing Negative Equity Portions of Home Loans
PostPosted: Mon Apr 11, 2016 1:54 pm 
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Too Big to Fail
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Joined: Aug 21, 2009
Posts: 4531
Location: Mesopotatia
Just recalled this today.

Any update, how any of these are working out? Since prices rose after it was introduced I assume people didn't get the potential reduction.

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The real damage is done by those millions who want to 'get by'. The ordinary men who just want to be left in peace. Those who don’t want their lives disturbed by anything bigger than themselves. Those with no sides and no causes. Those who won’t take measure of their own strength, for fear of antagonizing their own weakness. Those people who roll up their spirits into tiny little balls so as to be safe. Safe?! From what?
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