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Thread: Will FG & labour fix the loophole to enable banks to seize family homes ?

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    Default Will FG & labour fix the loophole to enable banks to seize family homes ?

    Coalition to fix loophole to enable banks to seize homes
    Coalition to fix loophole to enable banks to seize homes - The Irish Times - Wed, Dec 12, 2012

    CAn anyone remind me of where in the program for government that the loathsome FFger's and "labour" requested a mandate to put families out of their homes?

    With the assault on the family with the family home tax (mis-named "Property Tax") to keep the payments up for their banksters and fellow cronies along with the attack on Carers etc I would not be surprised as to what the FFger's/"labour" liars are willing to do.

    The electorate voted for a plan for economic recovery, for a jobs stimulus and very much for peace of mind regarding the family home. The FFger's & "labour" quislings in government have not just abandoned their mandate but now want to wage war on the electorate by facilitating their banking friends to repossess family homes while banksters feast on huge salaries and bonuses.

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    How is it a loophole?

    Banks must be able to recover the mortgaged property!

    Definition: A mortgage is an agreement to give up an interest in something if you fail to perform some duty. In many cases, it means that you'll give up your home if you fail to repay your home loan as agreed. You can use mortgage as a verb, meaning "to pledge".
    Mortgage and "home loan" are often used interchangeably. However, the mortgage is really the agreement that makes your home loan work -- the bank wouldn't lend you hundreds of thousands of dollars unless they knew they could claim your home in the event of your default.

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    Politics.ie Member stopdoingstuff's Avatar
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    Class warfare was always thus.

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    Politics.ie Member DaveM's Avatar
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    Quote Originally Posted by potholedogger View Post
    How is it a loophole?

    Banks must be able to recover the mortgaged property!

    Definition: A mortgage is an agreement to give up an interest in something if you fail to perform some duty. In many cases, it means that you'll give up your home if you fail to repay your home loan as agreed. You can use mortgage as a verb, meaning "to pledge".
    Mortgage and "home loan" are often used interchangeably. However, the mortgage is really the agreement that makes your home loan work -- the bank wouldn't lend you hundreds of thousands of dollars unless they knew they could claim your home in the event of your default.
    That's all well and good. Until you remember who it is that's picking up the tab for the banks' debts.
    Tantum religio potuit suadere malorum.

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    Politics.ie Member stopdoingstuff's Avatar
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    You see, contracts only get enforced if you are poor. But if you are a bondholder, you have nothing to worry about.

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    Quote Originally Posted by DaveM View Post
    That's all well and good. Until you remember who it is that's picking up the tab for the banks' debts.
    If I put my money in a bank and the bank lends it on a secured loan I want the bank to be able to recover the security for the loan so they can pay me back!

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    Politics.ie Member DaveM's Avatar
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    Quote Originally Posted by potholedogger View Post
    If I put my money in a bank and the bank lends it on a secured loan I want the bank to be able to recover the security for the loan so they can pay me back!
    I go to work everyday. My income is taxed. That tax has been used to bail out unsecured creditors of the banks. It's the same story for people across the country. You don't think taxpayers entitled to be even slightly aggrieved at the double standard at play?
    Tantum religio potuit suadere malorum.

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    Quote Originally Posted by venusian View Post
    Coalition to fix loophole to enable banks to seize homes
    Coalition to fix loophole to enable banks to seize homes - The Irish Times - Wed, Dec 12, 2012

    CAn anyone remind me of where in the program for government that the loathsome FFger's and "labour" requested a mandate to put families out of their homes?

    With the assault on the family with the family home tax (mis-named "Property Tax") to keep the payments up for their banksters and fellow cronies along with the attack on Carers etc I would not be surprised as to what the FFger's/"labour" liars are willing to do.

    The electorate voted for a plan for economic recovery, for a jobs stimulus and very much for peace of mind regarding the family home. The FFger's & "labour" quislings in government have not just abandoned their mandate but now want to wage war on the electorate by facilitating their banking friends to repossess family homes while banksters feast on huge salaries and bonuses.
    You will have to watch more TV, Rabbite stated on the politics show, that when looking to get into power, it is the practice to LIE. There is your answer.......

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    Quote Originally Posted by DaveM View Post
    I go to work everyday. My income is taxed. That tax has been used to bail out unsecured creditors of the banks. It's the same story for people across the country. You don't think taxpayers entitled to be even slightly aggrieved at the double standard at play?


    The taxpayer has borrowed money to bail out banks who repaid money to people they borrowed too much money from. The taxpayer has borrowed so much money some of which is used to finance Government spending that there will be great difficulty in paying it back.

    Perhaps it will not all be paid back!

  10. #10

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    If you mortgage a property as security you put it at risk, who in their right mind would otherwise bother paying a mortgage if the mortgaged asset wasn't at risk?
    "If we can but prevent the government from wasting the labours of the people, under the pretence of taking care of them, they must become happy." - Thomas Jefferson

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