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Thread: Mortgage War Possiblities & The Latest from Matthew "Tentinfield"

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    Politics.ie Member Dublin 4's Avatar
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    Default Mortgage War Possiblities & The Latest from Matthew "Tentinfield"

    In-arrears homeowners who ignore banks 'face legal proceedings': Elderfield
    Financial regulator Matthew Elderfield has warned that customers who do not cooperate with their banks could also be ruling themselves out of benefitting from new personal insolvency rules.
    Mr Elderfield said repossessions would "inevitably rise".
    In-arrears homeowners who ignore banks 'face legal proceedings': Elderfield | Irish Examiner

    The problem is clearly escalating & looks like Matty's not taking it from any "Strategic Defaulters".

    Dave "The Rave" Hall's recent black eye in Court re the Pro No's hasn't increased his followers confidence in him.

    Perhaps Dave can redeem himself with an Appeal victory.

    However as those holding out for a deal hope, the Debt Pile is mounting!



    The Frontline Alliance are now upping the Ante re Industrial Action.

    Peter Matthews' claim in December that the Banks need another €60 Billion has gone unrebutted by Enda.

    http://www.politics.ie/forum/economy...d-stake-i.html

    The EZ crisis is bubbling away but the Bond Markets are calm.

    Could Ireland's Mortgage Mayhem overspill into Europe with a Bank recap?

    Will the Downgraded ESM rescue us or would they claim its part of the same initial Bailout we've subscribed to?

    Making things worse Ireland is due to pay a Bond for €5.11 Billion in April & another Banger for over €7 B in Jan.

    Can Noonan put a lid on the Mortgage Time Bomb, Pay the Bonds, nail down the Pro No Deal & Get us outta the Bailout?

    Or will Greece, Spain, Italy or Portugal kick off Debtageddon?



    Here's hopin for Noono prevailing over Berlo but either way its a bit of a sweat - isn't it???

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    I think it's time to leave, these incompetents are going to kill us all in order to save the banks

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    Politics.ie Member james toney's Avatar
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    When is the fuse going to run out on the mortgage time bomb?
    It' got to come to head sooner rather than later.
    "You think thats bad,theres one lunatic that posts on there 40-50 times a day..He's alone..in bad company!

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    Politics.ie Member Shpake's Avatar
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    Quote Originally Posted by freddiefly View Post
    n November 2010 [Economist] Morgan Kelly predicted a Mortgage War between those who took out mortgages and those who didn’t.

    He said: ”The gathering mortgage crisis puts Ireland on the cusp of a social conflict on the scale of the Land War, but with one crucial difference. Whereas the Land War faced tenant farmers against a relative handful of mostly foreign landlords, the looming Mortgage War will pit recent house buyers against the majority of families who feel they worked hard and made sacrifices to pay off their mortgages, or else decided not to buy during the bubble, and who think those with mortgages should be made to pay them off. Any relief to struggling mortgage-holders will come not out of bank profits – there is no longer any such thing – but from the pockets of other taxpayers.

    He also said: “If one family defaults on its mortgage, they are pariahs: if 200,000 default they are a powerful political constituency. There is no shame in admitting that you too were mauled by the Celtic Tiger after being conned into taking out an unaffordable mortgage, when everyone around you is admitting the same.

    “Ireland faced a painful choice between imposing a resolution on banks that were too big to save or becoming insolvent, and, for whatever reason, chose the latter. Sovereign nations get to make policy choices, and we are no longer a sovereign nation in any meaningful sense of that term. From here on, for better or worse, we can only rely on the kindness of strangers.”
    Such beautiful prose sounding our death-knell/ life-and-death struggle. Please can you provide the link?
    "Well, OK. Fine. As long as it comes with a steady paycheck, I'd believe whatever they wanted me to believe, as the Guy in Ghostbusters said."

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    Politics.ie Member gerhard dengler's Avatar
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    Politics.ie moderators should moderate instead.
    Welcome to Political Irish | Political Irish

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    Politics.ie Member Dublin 4's Avatar
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    The Restructures are taking their toll on top of the arrears...

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    Politics.ie Member Dan_Murphy's Avatar
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    Quote Originally Posted by gerhard dengler View Post


    He Gerhard,

    Can I ask what the source of these images is? Need a good horror story for the weekends reading.

  8. #8

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    Nice kick up the ar$e for Ireland

    European Commission warns Ireland about mortgage arrears | Irish Examiner

    The European Commission is warning that slow progress in dealing with the mortgage arrears will damage Ireland's recovery.
    I have no money, but I love my life.

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    Politics.ie Member Dublin 4's Avatar
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    Quote Originally Posted by StratetgicdefaultingIsLeadership View Post
    Nice kick up the ar$e for Ireland
    Knew you couldn't have stay of this thread

  10. #10

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    Quote Originally Posted by Dublin 4 View Post
    Knew you couldn't have stay of this thread
    I was about to set up a thread about the European Commission intervening, but then I spotted your thread, so I didn't want to p1ss on your chips

    As for Elderfield...this is the man who 18 months ago was saying that there was a massive moral hazard in helping borrowers. That tune soon changed!
    I have no money, but I love my life.

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