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I am able to pay my mortgage but not the arrears

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  • 28-05-2014 12:21pm
    #1
    Teaandcoffee
    Registered Users Posts: 94 ✭✭


    Hi all,

    I'd been out of work for a long time and was only able to make a token payment towards my mortgage each month. The arrears began mounting up and are now in excess of 30k.

    Last January I found myself reemployed and began repaying my mortgage in full each month. However, I am unable to pay the arrears and realise that interest is accuring on the arrears each month and making my situation worse but I have no problem meeting my future mortgage payments going forward.

    Should I stop paying my mortgage as the bank have refused to recapitilise the arrears?

    Completely unsure of what to do next.


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    #2
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    Have you gone through the MARP process with them? Have you provided a statement of financial standing (SFS)?

    Does the bank have any reason to think you are either living beyond your means or have cash stashed somewhere? If not then its in their interests to offer you some sort of deal, just to clean up their books..


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