Government measures to help people in mortgage arrears

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  • #12776
    Jedt
    Member

    Heard some of the radical suggestions on the radio today that the government are considering for people in mortgage arrears and have to say, am not impressed with what they’ve come up with so far.

    They are saying that people who lose their homes through repossession may be able to then rent the homes, so they don’t have to move. This would be tough, to know you’ve been paying off a mortgage on a property and then to end up renting it with no view to ever owning it, instead of paying a mortgage…ouch.

    also, they are saying people in negative equity may be able to trade up and get second mortgages to buy cheaper properties, if they can clear the debt they owe – the details on that one a little fuzzy but does not sound very generous to those who are suffering.

    So sounds like the ordinary people are getting screwed all over again while the banks and anyone with a huge debt get away with blue murder.

    When they were canvassing on the doorsteps they were singing a different tune altogether…..typical.

    #116037
    Taylor5
    Member

    I believe the renting one is already happening, i know someone who deals with repossed houses, they were telling me that your neighbour could have had their house repossed but could still be living in it paying rent….

    I think this is very very muddy, there was a woman on joe duffy today, both herself and her husband making cuts EVERYWHERE to keep the bank paid, they wont get any help as they dont have arrears. The woman said hasnt the money to fill her oil tank, but her mortgage is paid up to date… she would get help if she had arrears, so the message your better off not to pay your mortgage and look after other bills

    #116047
    Jedt
    Member

    Its fair that they need to distinguish between people who cannot pay and people who wont pay. I have friends who have not really been affected much by the recession – yes some have taken pay cuts and yes, times are generally harder but they can still pay their mortgages and bills and head away on a few holidays a year -so should they get a reduction in their morgage??

    Whereas I have family & friends who have lost their jobs and simply cannot pay their mortgage and also, many of us are on much smaller incomes than we were when we took out our mortgages, so perhaps we should be able to have our monthly payments reduced or change the terms of our mortgages without having to take out new mortgages?

    have no idea how they are going to work something out but hope they do something for the people who are really struggling.

    Will be keeping a close ear to what Michael Noonan has to say about this mess.

    #116086
    Taylor5
    Member

    Its a joke. like everything else in this country…. the wrong people will get all the help. i know a few people behind on their bills and living on S.welfare but they are like chalk and cheese. Both behind on mortgages, one poor girl hasnt bought as much as a new pair of knickers for herself or the kids and days out for the kids were all free ones, she spends her week trying to find bargains in FOOD!!!
    Another person in same boat but still has nights out every weekend!!!!!!

    They will both get help under this new scheme, but do they both deserve help??

    I have a sister who is trying to keep her business afloat, things are VERY tough, but she has to keep going. Both herself and my BIL run the same business, my heart breaks for them. They sold off a stunning Range Rover to an Astra!!! They wont get help, they cant close their business as neither would get S.Welfare!!!
    So the joke will go on…… sorry but this makes me SOOOO ANGRY!!!

    #116105
    Maria30
    Member

    The government really need to come up with a plan to help those that are genuinely at risk of losing their homes not those that have decided to not pay their mortgage because they are hoping that they will get debt forgiveness.

    The first lady you mention Taylor definitely needs state assistant but the other person needs a good kick up the arse and to be told to cop on. Its so annoying to think that geniune people probably wont get the help they need or deserve.

    I hope things pick up for your sister and BIL. Its hard to believe that after paying tax etc for yrs that they arent entitled to any social welfare but that there are other people recieving social welfare that have never worked and have no interest in working either.

    #116136
    Taylor5
    Member

    I know Maria its so annoying, they at one stage had over 30 skilled workers working for them, so they would have been paying HUGE tax bills, they did make big profits in the boom, but thats whats keeping them going now… thank God the industry is starting to pick up as Dh works in the same sector

    #116162
    MUMMY5
    Member

    Its hard to judge who needs help most. Some people feel they are in dire straits but will choose to not pay mortgage/bills as priority over other spending on days/nights out, things they ‘want’ rather than ‘need’. We all want a holiday, a night out, new wardrobe but do we ‘need’ it as in compared to having a roof over our heads, food on the table, heat in the house.

    I don’t know how they will sort this one out. Like many I know people living on welfare but try their best to keep up with mortgage/food/bills etc. Other people on better incomes/benefits are not trying their best to keep up with basics but will spend on ‘luxury’ items instead as they find it too hard to change their lifestyle.

    #116167
    Jedt
    Member

    as my mum says, you have to cut your cloth to your measure.

    We have made cutsas much as possible at home to bring down bills. Not leaving heating on long, turning off lights when not in use, not making long phone calls etc and I cannot remember the last time I went shopping with my girl friends. We just cannot do it anymore…. we are mostly in same boat so we understand. No mon no fun sadly!!

    Same with the kids, a lot of hand me down activity going on and not just in my house, but with friends & family too. We are passing clothes, toys and baby equipment back and forth. Its tough going but we have radically changed our lifestyle since we lost our high paying jobs a few years back, as have a lot of our family & friends.

    Its really hard that gas & esb bills going up and the cost of back to school so high too and then on top of that, the mortgages are so expensive. And with new bills like water rates and property taxes coming in, it seems to be getting worse at the moment for many people in Ireland.

    I guess it will take some sort of means testing to see who is entitled to what…don’t envy who ever lands that job!

    #116169
    Taylor5
    Member

    Sabbi thats my point, there are people out there who are making changes to cut their spending just too keep their bills paid, massive lifestyle changes, what help will families like that get?…. Nothing!

    Yet the people who arent making cuts and still living the high life and not paying the bills will get help…. its just not fair! A friend of my sister got a man in to do work in her house, he did a great job and she refused to pay him 😯 Her reason was she didnt think the work would cost so much….. well then pay the man what you thought it woudl cost, rather then nothing1!! She drives a 10 BMW, had 2 sun holidays during the summer, she buys clothes every other week, she just spent 400e on a dog for her youngest child……..she looks like a WAG and you would think she is minted, yet she told us with no shame at all that she hasnt paid her mortgage for the past 18 months… "Ah, sure im not the only one, what can they do?" The idea of the likes of her getting help makes me sick!!!!

    #116172
    Hawkeye
    Member

    I had to pause and not use expletives at that one Taylor! 👿

    That is a big part of the problem, identifying genuine cases. There are people who were self employed and income vanished, yet they were entitled to nothing, irrelevant of the fact they might have paid paye for 20 years or more, the fact that they had been self employed for a few years took away entitlements! And then there are people like you descibe, choosing to live a "lie" rather than pay their mortgage! I wouldn’t be surprised if any of the lenders started investigating deeper into people who claim they cannot pay!

    Unfortunately, instead of being creative with job creation and incentives for those who have plenty to spend a bit more, the "think tank" that runs the country will most likely just look to increase various forms of taxation to get extra revenue in instead of solving the problem!

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