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Thread: Kenny gives Green Light to banks to repossess homes

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    Politics.ie Member Aindriu's Avatar
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    Default Kenny gives Green Light to banks to repossess homes

    This has been a long time coming but it had to happen. There are many borrowers who are not paying a cent towards their mortgages. They should be targeted hard. Buy-to-lets too need taking back from those landlords where they are pocketing the rent yet not paying the mortgage. Those too which stand empty because the landlord cannot get a tenant either because of lack of demand or because s/he is trying to get far to high a rental.
    Banks given repossession green light by Coalition - Independent.ie
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    Politics.ie Member Sync's Avatar
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    Taoiseach Enda Kenny last night described resolving the banking system and mortgage issue as the next big challenge facing the Government.

    Mr Kenny said he would have a plan for dealing with the issue of distressed mortgages in a fortnight.
    ....Was this really such a pressing issue that he couldn't have waited 2 weeks and announced it all together? Silliness.
    I'm living in America, and in America, you're on your own. America's not a country. It's just a business. Now f***ing pay me.

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    Politics.ie Member seismic change's Avatar
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    This is welcome news, for me personally I am delighted Enda has announced this move earlier, it should act as a warning to those who have decided not to repay their mortgage in the idea that they are going to gain some sort of write down of their debt that this is not to be the case.

    Obviously I feel for those who through no fault of their own are about to loose their home thanks to the Fianna Fail destruction of the Irish economy but unfortunately the economy cant fully recover until the stabilisation of the housing market is allowed to readjust and this isn't possible without full repossessions.

    Its good to see Enda and Fine Gael taking the tough but right decisions for the future of our country, they are at least doing whats right for each and everyone of us.

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    Quote Originally Posted by seismic change View Post
    This is welcome news, for me personally I am delighted Enda has announced this move earlier, it should act as a warning to those who have decided not to repay their mortgage in the idea that they are going to gain some sort of write down of their debt that this is not to be the case.

    Obviously I feel for those who through no fault of their own are about to loose their home thanks to the Fianna Fail destruction of the Irish economy but unfortunately the economy cant fully recover until the stabilisation of the housing market is allowed to readjust and this isn't possible without full repossessions.

    Its good to see Enda and Fine Gael taking the tough but right decisions for the future of our country, they are at least doing whats right for each and everyone of us.
    40% of buyers in 2007 were BTL and they are the most likely to be underwater so there's a lot of low-hanging fruit to be picked before PPR's even get looked at.

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    Quote Originally Posted by Aindriu View Post
    This has been a long time coming but it had to happen. There are many borrowers who are not paying a cent towards their mortgages. They should be targeted hard. Buy-to-lets too need taking back from those landlords where they are pocketing the rent yet not paying the mortgage. Those too which stand empty because the landlord cannot get a tenant either because of lack of demand or because s/he is trying to get far to high a rental.
    Banks given repossession green light by Coalition - Independent.ie
    No issue with Buy-to-lets been repossessed. I know many a person (some related to me) that used to be bull************************ting about their properties during the Celtic tiger. These same individuals are still living a Celtic Tiger lifestyle and I know damn well that they are not servicing the mortgage on their properties.

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    Politics.ie Member Dublin 4's Avatar
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    I know of 1 Messer who has been on the pi$$ for 4 years waitin for a deal.

    Hope the sham gets kicked out into rented accomm - he's takin home E800 p.w. & can afford it...

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    Politics.ie Member sic transit's Avatar
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    Quote Originally Posted by Sync View Post
    ....Was this really such a pressing issue that he couldn't have waited 2 weeks and announced it all together? Silliness.
    Probably because it involves legislation, which may or may not appear in less than 14 days. It also makes them look like they are "doing stuff".
    "There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self." Ernest Hemingway

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    Politics.ie Member Howya's Avatar
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    Quote Originally Posted by Sync View Post
    ....Was this really such a pressing issue that he couldn't have waited 2 weeks and announced it all together? Silliness.
    well Kenny & co have had 5 years to come up with a plan....why he needs another 2 weeks is beyond me.
    “Still paying, still to owe. Eternal woe! ” ― Paradise Lost, John Milton

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    Quote Originally Posted by Howya View Post
    well Kenny & co have had 5 years to come up with a plan....why he needs another 2 weeks is beyond me.
    It's just part of his way, he likes to have a second go two weeks later.

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    Politics.ie Member seismic change's Avatar
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    Quote Originally Posted by Howya View Post
    well Kenny & co have had 5 years to come up with a plan....why he needs another 2 weeks is beyond me.
    I think your forgetting that in 2008 Fine Gael were not in government and nobody outside of government knew the extent of how badly damaged the country was under the Fianna Fail government.

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