Choose paying back Mortgage or Choose Life?

donegal_road

mariano rivera wrote: »

I am single




I not going to emigrate. Do a certain extent i have a F*ck 'em mentality

As much as i made my own mistakes, i am not having some bank/ money lender force me out of my country. Anyways, the debts will still be here

I work hard, pay my taxes, contribute to my community so they are not pushing me out.

I will stick with it for a while, maybe speak to a solicitor

maybe you should speak to this solicitor

B.A._Baracus

donegal_road wrote: »

maybe you should speak to this solicitor

Thats insane!

MadsL

OU812 wrote: »

^ or... Have a devestating accidental fire in one of the properties & use the insurance to clear the mortgage. Much simpler.

You don't know how home insurance works do you?

K-9 wrote: »

The guy could be paying back a mortgage for 30 years.

So am I. Why should he have another bite at the cherry because his 2nd mortage was a disaster.

K-9

MadsL wrote: »

So am I. Why should he have another bite at the cherry because his 2nd mortage was a disaster.

Its a mortgage not a life long membership of the mob, she can default if she so wishes and hand back the keys. I'd value by mental wellbeing more myself, I know some value legal contracts higher.

OnTheCounter

To cut through all the whining OP.

you are planning to move out from your home, rent a cheap house and then have the bank garnish your wages to make up the shortfall between the selling price and the mortgage...

...so you can have an extra few hundred a month to buy sh1t that you dont need while continuing to live in Ireland.

-stay with the current situation
-emigrate and start fresh
-go bankrupt in the UK

grow the fcuk up

Squiggle

Brain Stroking wrote: »

Wonderfully idealistic but complete poppycock.

You seem to misunderstand the nature of mortgage debt.

It isnt a "two way arrangement" and was never intended to be. Mortgages are a product/service offered by the lender no different to any lender.

How can you say that a loan agreement secured on a property ie a mortgage, legally binding on the borrower and the bank is not a two way arrangement?

Jaysoose

Do people think that the bank is going to simply absorb losses in this fashion and not increase fees for customers across the board to make up the shortfall of all the strategic defaulters.

The op and people like him are aiming to pass on their debt to the rest of us..open your eyes people this affects us all.

asherbassad

yourdeadwright wrote: »

I think you came to the wrong place if your looking for sympathy,
Terrible situation but people will say its your own fault ,

FFS he's not looking for sympathy. Get off your high horse.

donegal_road

Jaysoose wrote: »

Do people think that the bank is going to simply absorb losses in this fashion and not increase fees for customers across the board to make up the shortfall of all the strategic defaulters.

The op and people like him are aiming to pass on their debt to the rest of us..open your eyes people this affects us all.

the banks are aiming to pass on their debt to the rest of us until kingdom come. If everyone defaulted collectively, we would put an end to their corrupt regime for the benefit of generations to come

*I still think Brazil might be the best option for the OP

asherbassad

Take a leave of absence from work.

Got to the UK on Monday. Declare bankruptcy on Tuesday.....should take all of a minute. Get on the electoral register. Get a job. Stay there for one year.

Return to Ireland in one year. Houseless but debt free. Return to job. Rent.

asherbassad

donegal_road wrote: »

the banks are aiming to pass on their debt to the rest of us until kingdom come. If everyone defaulted collectively, we would put an end to their corrupt regime for the benefit of generations to come

*I still think Brazil might be the best option for the OP

Absolutely. The whole credit crunch was engineered anyway. It wasn't an accident. Oh, it caught a lot of people off guard but it wasn't an accident.
Biggest heist in history. So why pay the bastards back?
People on here blab about "responsibilities" and "yeah, default....we taxpayers will have to cover your debt you scummy cnut"
The taxpayers are suckers and the banks know it. I'm not going to be beholden to these pickpockets and neither should the taxpayer. They created this mess on purpose to enrich themselves knowing that Wall Street, the IMF and the ECB would fcuk over populations in favour of their pals in the finance sector. And the people would just take it, and worse, would turn against those who refuse to take it up the arse.

donegal_road

asherbassad wrote: »

Absolutely. The whole credit crunch was engineered anyway. It wasn't an accident. Oh, it caught a lot of people off guard but it wasn't an accident.
Biggest heist in history. So why pay the bastards back?
People on here blab about "responsibilities" and "yeah, default....we taxpayers will have to cover your debt you scummy cnut"
The taxpayers are suckers and the banks know it. I'm not going to be beholden to these pickpockets and neither should the taxpayer. They created this mess on purpose to enrich themselves knowing that Wall Street, the IMF and the ECB would fcuk over populations in favour of their pals in the finance sector. And the people would just take it, and worse, would turn against those who refuse to take it up the arse.

+1

Gummy Panda

Turn one of the houses into a brothel and rent it out to organised crime

Living for Fridays

mariano rivera wrote: »

I wanted an Afterhours view on this as its not just a financial question but a lifestyle question

My story is this:

I built a house back in the boom years

My intention was to sell the house and with the profit have money towards buying my own house

Bank gives me a mortgage for a second house on the back off the house that i have yet to sell

Anyways, boom busts

Now left with two houses in negative equity

Approx. negative equity of 350k

I know, my own fault, my risk etc.

In the last 4 to 5 years, have done deals with the bank

Thankfully, I still have a job, that pays ok

But, I am skint, skint, skint with these payments

No money for anything out of the norm. have to watch every penny.

Unless I live until I am 200 years old, I have no chance of paying back this money

So, I am thinking of handing the keys back to the bank and rent some place and actually have a few bob in my pocket

Don’t care about credit rating or letters form the bank anymore

Just want start living again?

Id say grow up and stop feeling sorry for yourself. You have the responsibilty to pay back what you borrowed.

Living for Fridays

asherbassad wrote: »

Absolutely. The whole credit crunch was engineered anyway. It wasn't an accident. Oh, it caught a lot of people off guard but it wasn't an accident.
Biggest heist in history. So why pay the bastards back?
People on here blab about "responsibilities" and "yeah, default....we taxpayers will have to cover your debt you scummy cnut"
The taxpayers are suckers and the banks know it. I'm not going to be beholden to these pickpockets and neither should the taxpayer. They created this mess on purpose to enrich themselves knowing that Wall Street, the IMF and the ECB would fcuk over populations in favour of their pals in the finance sector. And the people would just take it, and worse, would turn against those who refuse to take it up the arse.

You obviously are not a taxpayer, care to explain how taxpayers are "suckers"? :mad: