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How do you feel about paying for your neighbours debt write-down?


IbrahaimMohamad

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Feb 5, 2013
Messages
4,226
How do you feel about paying for your neighbours debt write-down?

The Corporate Borrowers have had their debt relief. Now the personal debt mountain is being tackled which will see debt write-downs for hundreds of thousands of borrowers.

This "recapitalisation " of the banks is being funded by the taxpayer.

Does anyone resent some one getting debt relief and getting to stay in their €3 million home?

The banks are letting borrowers get away with not paying mortgages. Debt relief is some thing you take from the Banks as they have no appetite to repossess property!
 

Mad as Fish

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Dec 6, 2012
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24,449
After watching the billions being barrowed out of the country to pay off the unsecured loans (AKA gambling losses) there is little enough disgust left to express an opinion one way or another on this totally loaded question, but I d rather see people housed than homeless, wouldn't you?
 

drummed

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Oct 22, 2010
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37,438
I'd pay you to stop opening threads bob.
 

drummed

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Oct 22, 2010
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Analyzers response: Anglo/Seanie/Bondholders/Pravda/Media Manipulation/Gombeens, etc, etc.

Thanks Analyzer.
 

Davidoff

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Joined
Oct 4, 2010
Messages
1,485
Half my mortgage, for starters :)

I think whatever is going to happen, needs to hurry up and happen. This p1ssing about is helping nobody.
The big unanswered question is why are the banks doing nothing?

And why is the regulator allowing this 'p1ssing about' to happen?

It's at least possible that the banks are still fundamentally insolvent.
 

Porkypie

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Joined
Dec 14, 2012
Messages
4,240
How do you feel about paying for your neighbours debt write-down?

The banks are letting borrowers get away with not paying mortgages. Debt relief is some thing you take from the Banks as they have no appetite to repossess property!
The borrowers are letting banks and their government sponsors away with murder. The money lender on the back streets of Oliver Bond and Ballyfermot have more respect than the sharks pawning their wares in Leinster House or that concrete monstrosity on Dame Street.
 

neiphin

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Aug 23, 2009
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Franzoni

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Mar 3, 2010
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This was discussed on primetime tonight......

Strategic debt default was discussed at the end..some of the commentators said it had come up in the IMF/Troika discussions....

€175 billion hanging out there has them worried in Europe and the US folks....they want more repos to scare the peasants....

The question will Enda and more especially Eamonn have the bottle in the centenary year of the lockout and with the 1916 centenary coming up and all the history that Reposession on a large scale has in this country.?
 

gerhard dengler

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Feb 3, 2011
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47,554
I presume that this "bailout" only applies to mortgages in arrears?

What about people who are in serious negative equity?

I can see mortgage holders strategically defaulting if this means bailing out only those in arrears.
 

nonpartyboy

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Joined
Dec 24, 2006
Messages
6,857
This was discussed on primetime tonight......

Strategic debt default was discussed at the end..some of the commentators said it had come up in the IMF/Troika discussions....

€175 billion hanging out there has them worried in Europe and the US folks....they want more repos to scare the peasants....

The question will Enda and more especially Eamonn have the bottle in the centenary year of the lockout and with the 1916 centenary coming up and all the history that Reposession on a large scale has in this country.?
They aren't even repossessing btl's where the landlords are pocketing the money.......zombieland
 

anewbeginning

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Jan 20, 2009
Messages
4,628
To be honest, I'd rather decisions like this be left to the experts in the IMF and to a lesser extent the ECB.

There is a reason why every decision is run past these institutions now. It's because they know our politicians are ecomonically illiterate and have never known what's in the long term interests of the country. If it was left to our politicians, there would be no tax and big wages to everyone.
 

tipp revolution

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Joined
Feb 16, 2011
Messages
2,603
I presume that this "bailout" only applies to mortgages in arrears?

What about people who are in serious negative equity?

I can see mortgage holders strategically defaulting if this means bailing out only those in arrears.
equity is irrelevant until one sells the house and one is hardly likely to borrow more on the house in this lifetime?
What kind of a person would strategically default and voluntarily wipe out their credit rating? Not me, maybe I'm an idiot but I have morals Mind you thankfully I don't have a big mortgage cos I live in culchieland.

Looking around me, I would hate to see any of the neighbours in difficulty to lose their houses, so I'll deal with the potential injustice. However, could we introduce some kind of really punitive mansion tax payable in hours of community service if the cash is not forthcoming from Bahamas/Cyprus or wherever for the Johnny Ronans and those other creatures who extract a few grand every month from NAMA to run aforementioned mansions (the fockers are probably drawing dole as well?)
 
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stopdoingstuff

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Feb 26, 2011
Messages
22,897
Has there been any official debt write off? In any case, didn't we recapitalize the banks so that they absorb losses? If so, then let's make them absorb those losses. Debt forgiveness is necessary for a full recovery.
 
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