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Tag Archives: negative equity

22nd April 2013

irish-brokers-association

Buy-to-let widows could lose their homes

By The MyHome Newsdesk | Posted in Commercial, General, Home, Industry News, Mortgages & Money, Property News, The Investor, The Overseas Investor | Also tagged bailout, bank, banks, boom, buy-to-let, buy-to-let investments, buy-to-let investors, Ciaran Phelan, executor, IBA, investment mortgages, investments, investors, Irish Brokers' Association, landlords, life insurance, loans, Mortgage, mortgages, owner occupier mortgages | Comments (0)

Grieving spouses of buy-to-let investors may be chased by banks to recoup losses after their untimely death, according to the Irish Brokers’ Association. Spouses could be left hugely exposed and may be targeted to pay for the negative equity portion of these largely uninsured properties as banks’ rarely insisted on life insurance being in place [...]

12th April 2013

ScreenHunter_01-Mar.-17-23.041-300x227

Is the mortgage crisis worse than we thought?

By Karl Deeter | Posted in General, Home, Mortgages & Money, Property News | Also tagged advisors, aggressive, anxiety, arrears, banks, Code of Conduct on Mortgage Arrears, consumer, consumer protection code, credit card, credit unions, debt, depression, distressed, distressed mortgages, EBS, Friday feedback, generation, Irish Mortgage Brokers, Karl Deeter, lender, loan, MABS, Money Advice and Budgeting Service, Mortgage, mortgage arrears, MyHome, MyHome.ie, regulation codes, report, stress, unsecured creditors | Comments (16)

MABS (the Money Advice and Budgeting Service) a publicly funded group who are given €18,500,000 a year to help the indebted, have produced research which indicates that when it comes to people with mortgage difficulty that the people affected are mainly those with children and are aged from 41 to 65. They also found that [...]

6th March 2013

Irish pension investors are increasingly turning to the property market

Pensioners returning to invest in property market

By The MyHome Newsdesk | Posted in Commercial, General, Home, Industry News, Mortgages & Money, Property News, The Investor, The Overseas Investor | Also tagged broker, cash deposits, commercial, CSO, debt, debt leverage, deposits, estate agents, Independent Trustee Company, investors, lenders, pension, pension schemes, pensioners, property, residential property, retirement portfolios, savings | Comments (0)

In a slow but undeniable trend, Irish pension investors are tentatively taking steps back into the property market by adding property to their retirement portfolios. That’s according to Independent Trustee Company who looked at where clients with self-administered pension schemes are choosing to direct their pension savings. The pension experts, with €750 million in clients [...]

25th February 2013

A house for sale at The Grove in Lucan

Good news for market as homes begin to sell off plans again

By The MyHome Newsdesk | Posted in Building, General, Home, Industry News, Mortgages & Money, Property News, The First Time Buyer, The Investor | Also tagged boom, construction, developers, developments, Dublin, estate agents, family homes, homes, planning permission, plans, property market, Savills | Comments (0)

The property market has given one of its clearest signs yet that it may be recovering with the news that developers have started to sell new homes off plans for the first time in more than five years. With a dwindling supply of good quality family homes in major urban areas such as Dublin, many [...]

13th February 2013

Patrick Honohan

Household financial distress at “unprecedented levels”, insist Honohan

By The MyHome Newsdesk | Posted in General, Home, Mortgages & Money, Property News | Also tagged arrears, bank, banks, borrowers, Central Bank, conference, credit unions, debt, distressed property, engagement, financial, household, insolvency, loan, loans, modification, Mortgage, mortgage arrears, over-indebtedness, Patrick Honohan, repayments, utility | Comments (0)

Household financial distress is now at “unprecedented levels’, according to the Central Bank’s Patrick Honohan. Speaking at the bank’s conference on distressed property, Professor Honohan said they are “ramping up” its engagement with banks in recognition of the fact that, until recently, they seemed to be “behind the curve” in addressing the problem of mortgage [...]

17th December 2012

Stephen Donnelly TD

Donnelly hits out at unfair property tax

By The MyHome Newsdesk | Posted in General, Home, Mortgages & Money, Property News | Also tagged Dáil, Dublin, East Carlow, Finance and Local Government, Local Property Tax, Olivia Mitchell, property tax, Roscommon, stamp duty, Stephen Donnelly, TD, Wicklow | Comments (1)

Independent TD Stephen Donnelly has hit out at the government for gagging deputies from discussing the new property tax, accusing them of needlessly rushing it through the Dáil. The Wicklow and East Carlow representative also claimed the new tax would be unfair, saying it punished city dwellers more than those in rural areas. Writing in [...]

16th October 2012

Cllr Sean McSharry

Leitrim councillor expresses fears over property tax

By The MyHome Newsdesk | Posted in General, Home, Mortgages & Money, Property News | Also tagged Cllr Sean McSharry, councillor, Enda Kenny, eurozone, Finland, forecasts, Germany, homes, household charge, households, IMF, Leitrim, Netherlands, poverty, property tax, purchase price, register, Sean McSharry, Taoiseach | Comments (1)

A councillor from County Leitrim has aired his fears that the forthcoming property tax will drive struggling households deeper into the poverty trap. Cllr Sean McSharry asked: “How can a government ask homeowners to give an honest evaluation on homes that are in serious negative equity compared to the purchase price valuation?” Quoted in the [...]

26th September 2012

The new mortgages will allow people in negative equity to move to a place more suited to their needs

EBS and AIB launch new negative equity trade up mortgages

By The MyHome Newsdesk | Posted in General, Home, Industry News, Mortgages & Money, Property News, The Seller | Also tagged AIB, Conor Pope, debt, EBS, Irish Times, loan, Mortgage, mortgages, Negative Equity Trade Up mortgages, trade up | Comments (0)

EBS and AIB have announced details of a negative equity trade-up mortgage for customers who want to move to a property of greater value but whose homes are worth less than they paid for them. Conor Pope reports in today’s Irish Times that the Negative Equity Trade Up mortgages will allow customers to sell their [...]

21st September 2012

Getting economy back on track and avoiding mass defaults is a difficult task to juggle

By The MyHome Newsdesk | Posted in General, Home, Mortgages & Money, Property News | Also tagged bills, budget, charges, clothes, Cork, crisis, debt, default, defaulting, Dublin, economy, finances, Friday feedback, home loans, hotel, insolvency, legislation, Moody's, music, MyHome, MyHome.ie, personal insolvency legislation, poll, property tax, write-off | Comments (14)

In last week’s Friday Feedback we discussed the possible impact of the property tax and Budget on people’s finances going into 2013. As part of that article we took a brief straw poll from people to get an idea of how they would be impacted by any additional charges come December. We asked would people [...]

11th July 2012

Moody’s expect debt forgiveness for unsustainable mortgages

By The MyHome Newsdesk | Posted in Home, Mortgages & Money, Property News | Also tagged balance sheets, debt, debt forgiveness, government, legislation, Moody's, Mortgage, mortgage debt, Personal Insolvency Bill, rating's agency, repossession, unsustainable | Comments (0)

International ratings agency Moody’s expects debt forgiveness to become the normal way to deal with unsustainable mortgage debt in Ireland. In a note issued yesterday, Moody’s said that once all other avenues were exhausted lenders would be left with little choice but to offer debt forgiveness. “Moody’s expects debt forgiveness – rather than repossession – [...]

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