Irish Joe Soap and Debt

[diar2me]

When, oh when will the Irish Joe Soap learn that their debt is their responsibility. Just saw that interview on the late late with the 2 couples talking about their houses getting repossessed. Now I am not some cold hearted fucker who doesn't feel pity for them, I do! However, there is this constant attitude from the Irish citizen that ultimately results in the individuals blaming everyone but themselves. When a person remortgages their home for an additional €100,000 to "do it up", one has to question not alone why the loan was approved but also why the hell the individuals thought nothing of borrowing such a sum. People talk about the bailing out of banks which hold the monies of the people of the state and how it is morally wrong, yet, they all seem to want their own individual bail outs. If you buy a TV on credit and after 2 months stop repaying the shop, what happens? It gets taken back. Why people can't fathom that you don't get a house for free is just beyond me!

[rebelicecreamman]

Diar2me.
Like it or not, what you saw tonight on the late late is the tip of a massive iceberg that awaits irish society. If there are three prongs to our current problems, then are only two solutions on the table.

1. Government spending cuts can and will bring the current deficit under control.

2. NAMA is the proposed solution to the banking/toxic debt crisis. It may work.

3. There is no apparent solution yet for the huge number of people who bought houses at massive prices near the peak but have now lost their jobs and can no longer meet repayments or sell their properties.


Now like it or not this is where we are, and you can be sure that these people you sneer at know EXACTLY that their debt is their responsibility. While they are responsible for their own personal actions, they are entitled to feel aggrieved that the government and bankers, through incompetence, greed and averice, stoked the fire in an already overheating property market. Remember, these people aren't property speculators. The majority of these people own only the home they live in. They are entitled to expect the government to regulate the banking sector IN THE INTERESTS OF SOCIETY. To protect people from themselves, if you like. Plenty ordinary people, smart and not-so-smart, now find themselves in this terrible scenario.

So lose the sneer and learn some compassion.

[diar2me]

Diar2me.
Like it or not, what you saw tonight on the late late is the tip of a massive iceberg that awaits irish society. If there are three prongs to our current problems, then are only two solutions on the table.

1. Government spending cuts can and will bring the current deficit under control.

2. NAMA is the proposed solution to the banking/toxic debt crisis. It may work.

3. There is no apparent solution yet for the huge number of people who bought houses at massive prices near the peak but have now lost their jobs and can no longer meet repayments or sell their properties.


Now like it or not this is where we are, and you can be sure that these people you sneer at know EXACTLY that their debt is their responsibility. While they are responsible for their own personal actions, they are entitled to feel aggrieved that the government and bankers, through incompetence, greed and averice, stoked the fire in an already overheating property market. Remember, these people aren't property speculators. The majority of these people own only the home they live in. They are entitled to expect the government to regulate the banking sector IN THE INTERESTS OF SOCIETY. To protect people from themselves, if you like. Plenty ordinary people, smart and not-so-smart, now find themselves in this terrible scenario.

So lose the sneer and learn some compassion.

Did you even read my fuckin post you dumwit. I am not sneering at anyone, how dare you even suggest I am. I am just saying that in the absense of their bank being flexible, WHICH MAY I ADD THEY SHOULD, it should come as no surprise that they will lose their home if they can't or don't pay their mortgage. One of the couples tonight bought a house for €270k yet had a mortgage for €380k, because they re mortgaged over a €100k to do the house up. Come on like! It's about time they also looked at themselves and conceded that prob wasn't the wisest of decisions! Me taking this view is not me sneering, it's just I feel we are all adults and have to take responsibility for our actions and that also means that I think bank chiefs should be locked up!

[rebelicecreamman]

"When oh when will the Irish Joe Soap learn......?"


No sneering or condescension there then.

[KolaKubes]

Diar2me.
Like it or not, what you saw tonight on the late late is the tip of a massive iceberg that awaits irish society. If there are three prongs to our current problems, then are only two solutions on the table.

1. Government spending cuts can and will bring the current deficit under control.

2. NAMA is the proposed solution to the banking/toxic debt crisis. It may work.

3. There is no apparent solution yet for the huge number of people who bought houses at massive prices near the peak but have now lost their jobs and can no longer meet repayments or sell their properties.


Now like it or not this is where we are, and you can be sure that these people you sneer at know EXACTLY that their debt is their responsibility. While they are responsible for their own personal actions, they are entitled to feel aggrieved that the government and bankers, through incompetence, greed and averice, stoked the fire in an already overheating property market. Remember, these people aren't property speculators. The majority of these people own only the home they live in. They are entitled to expect the government to regulate the banking sector IN THE INTERESTS OF SOCIETY. To protect people from themselves, if you like. Plenty ordinary people, smart and not-so-smart, now find themselves in this terrible scenario.

So lose the sneer and learn some compassion.

Property "investors" should have been told to go spin.

They should still be squeezed heavily.

Has anyone considered that allowing the house prices to drop, meaning that the young now, large numbers of whom are out of work, will be able to afford a home might be a good thing.

[diar2me]

"When oh when will the Irish Joe Soap learn......?"


No sneering or condescension there then.

Jesus you're shrewd aren't ya. Overlook the point I was making and focus on five words!

[POL]

Did you even read my fuckin post you dumwit. I am not sneering at anyone, how dare you even suggest I am. I am just saying that in the absense of their bank being flexible, WHICH MAY I ADD THEY SHOULD, it should come as no surprise that they will lose their home if they can't or don't pay their mortgage. One of the couples tonight bought a house for €270k yet had a mortgage for €380k, because they re mortgaged over a €100k to do the house up. Come on like! It's about time they also looked at themselves and conceded that prob wasn't the wisest of decisions! Me taking this view is not me sneering, it's just I feel we are all adults and have to take responsibility for our actions and that also means that I think bank chiefs should be locked up!

http://www.e-imagesite.com/Files/crazyman039420916.gi f

[diar2me]

http://www.e-imagesite.com/Files/crazyman039420916.gi f

Good man POL!:confused:

[POL]

Good man POL!:confused:

http://www.threadbombing.co m/data/media/49/dawson_crying.gif

[doppellanger]

Diar2me.
Like it or not, what you saw tonight on the late late is the tip of a massive iceberg that awaits irish society. If there are three prongs to our current problems, then are only two solutions on the table.

1. Government spending cuts can and will bring the current deficit under control.

The deficit is not a problem in the short term but the spending cuts will be. Reducing salaries will also reduce the tax take because most of the cuts would have been taxed at 40%. Plus the strikes that are already happening won't do Ireland's reputation any good internationally. Plus lower consumer spending will mean lower VAT take and overall a shrinking economy.

The deficit is directly attributable to the Government's tax and waste policies over the past decade.

[diar2me]

http://www.threadbombing.co m/data/media/49/dawson_crying.gif

You must be the most uninspiring and repetitive poster in the history of PROC. I am amazed at how many posts you have that pic in as your response. A few hundred from looking back. One dimensional and sad to be honest. A clear sign of your intelligence. Back to the drawing board with ya and come up with something new!

[poulgorm]

What I can't figure out is how much the monthly repayments were. I know a person who has a €200k mortgage and is paying €570 per month. One of the couples on the Late Late has a mortgage of €300k and were expected to pay €1,700 per month. How come ?

Another point: bank staff who pester the couples with telephone calls should have the backbone to refuse to indulge in such practices

[diar2me]

What I can't figure out is how much the monthly repayments were. I know a person who has a €200k mortgage and is paying €570 per month. One of the couples on the Late Late has a mortgage of €300k and were expected to pay €1,700 per month. How come ?

Another point: bank staff who pester the couples with telephone calls should have the backbone to refuse to indulge in such practices

I know I was thinking the exact same about the amount they were paying, didn't make sense!

[POL]

What I can't figure out is how much the monthly repayments were. I know a person who has a €200k mortgage and is paying €570 per month. One of the couples on the Late Late has a mortgage of €300k and were expected to pay €1,700 per month. How come ?

Another point: bank staff who pester the couples with telephone calls should have the backbone to refuse to indulge in such practicesThey are obviously higher risk and had to borrow off a subprime lender, what they are paying is mostly interest

[diar2me]

What I can't figure out is how much the monthly repayments were. I know a person who has a €200k mortgage and is paying €570 per month. One of the couples on the Late Late has a mortgage of €300k and were expected to pay €1,700 per month. How come ?

Another point: bank staff who pester the couples with telephone calls should have the backbone to refuse to indulge in such practices

That is disgraceful actually, they spoke of bank staff ringing them on Saturdays and out of general office hours!

[POL]

they spoke of bank staff ringing them on Saturdays and out of general office hours!

http://www.threadbombing.co m/data/media/49/dawson_crying.gif

why don't they simply turn off the phone or take it off the hook???

[diar2me]

http://www.threadbombing.co m/data/media/49/dawson_crying.gif

why don't they simply turn off the phone or take it off the hook???

Why don't you turn yourself off or let me take you off the hook?

[POL]

Why don't you turn yourself off or let me take you off the hook?

why do I always think of someone like this lad when I read your posts? :lol!:

http://profile.ak.fbcdn.net/object2/246/32/n189677684776_610.jp g

[rebelicecreamman]

POL and Diar2me: an idiotic clusterf*ck made in heaven.

[diar2me]

why do I always think of someone like this lad when I read your posts? :lol!:

http://profile.ak.fbcdn.net/object2/246/32/n189677684776_610.jp g

Ya a guy with the complete opposite views as me in every way. Fair play for using a different pic though, I'm very proud of you. Oh by the way thinking about me??? I don't think about you or even read your posts (partially cause you fill them with pics) and at all times on PROC you are the furthest thing from my mind. Why? Cause you mean nothing, your opinions mean nothing and most of all I feel sorry for you spending all your days thinking you're cool and giggling away to yourself while putting up repetitive pics and trying to crack a humour that only you must understand, now move along you pest!

[diar2me]

POL and Diar2me: an idiotic clusterf*ck made in heaven.

Good one :rolleyes:

[POL]

Ya a guy with the complete opposite views as me in every way. Fair play for using a different pic though, I'm very proud of you. Oh by the way thinking about me??? I don't think about you or even read your posts (partially cause you fill them with pics) and at all times on PROC you are the furthest thing from my mind. Why? Cause you mean nothing, your opinions mean nothing and most of all I feel sorry for you spending all your days thinking you're cool and giggling away to yourself while putting up repetitive pics and trying to crack a humour that only you must understand, now move along you pest!you are only a mindless sheep as anyone who read your views on Lisbon would testify, you are ranting and raving here like the hysterical, reactionary alan o'brien clone you are, "oh I wonder how they are paying so much for their mortgage, "I met a lad in the pub who told me he is paying only 500 a month" ya gobshite :lol!:

http://www.sheep101.info/Images/sheep_racing.jpg

[diar2me]

you are only a mindless sheep as anyone who read your views on Lisbon would testify, you are ranting and raving here like the hysterical, reactionary alan o'brien clone you are, "oh I wonder how they are paying so much for their mortgage, "I met a lad in the pub who told me he is paying only 500 a month" ya gobshite :lol!:

http://www.sheep101.info/Images/sheep_racing.jpg

Oh stupid POL, Read back and you'll realise I didn't say that, it was a different poster. If ranting and raving is having an opinion that I am very sure of well you're right then I rant and rave. You on the other hand are so unsure of yourself that you never offer an opinion of your own, only try hopelessly to take cracks at posters credibility. I base that on one of two theories. Either you are so insecure and in The Real World no one gives a shit about your opinions so much that you have become used to suppressing it and therefor have none even on the internet (or) you are so thick and uneducated that you don't understand what people are on about so you try to sound intelligent by arguing with even the most valid of points. Or maybe a combination. Now for the love of God would you just go back to playing your internet games till the early hours and make your usual weekend call to the Samaritans ya gowl!

[irishmonkey]

boys get a room
so debt.....

[diar2me]

boys get a room
so debt.....

.....I was only thinking as well, we know that there are 30,000 or so mortgages looking dodgy at the moment, but, what about all the unsecured personal loans, one would imagine there are alot of big personal loans now in trouble too. What I'm wondering though is what the bank do with these if they hold no collateral against them?

[irishmonkey]

an interesting thing i learned when i was looking for a car loan a few years back. the AIB car loan was not infact a loan but a HP agreement. you had to look at the fine print to notice it. not sure if thats still the case

[diar2me]

an interesting thing i learned when i was looking for a car loan a few years back. the AIB car loan was not infact a loan but a HP agreement. you had to look at the fine print to notice it. not sure if thats still the case

Ya I am the same with my car loan, but, what about personal loans that were given out so easily over the last 10 years and some of them quite substantial ones. Alot of Irish people have very high personal loans with no collateral. Be interesting to know how many people are defaulting on personal loans!

[poulgorm]

When, oh when will the Irish Joe Soap learn that their debt is their responsibility.

I agree that it is their responsibility. But the bank, who sold them the loan, should be made to share the responsibility too. Both sides were reckless. The bank should be made to bear some of the pain - in the form of reducing payments (not just deferring) for a period of years. Or something like that.

[diar2me]

I agree that it is their responsibility. But the bank, who sold them the loan, should be made to share the responsibility too. Both sides were reckless. The bank should be made to bear some of the pain - in the form of reducing payments (not just deferring) for a period of years. Or something like that.

Defo, a sensible option in the current predicament I must say. I just don't like the notion that the responsibility is not on the borrower ya know! People blaming banks for borrowing €100k to do up the house just doesn't wash that well in my opinion!

[hemlock666]

When, oh when will the Irish Joe Soap learn that their debt is their responsibility. Just saw that interview on the late late with the 2 couples talking about their houses getting repossessed. Now I am not some cold hearted fucker who doesn't feel pity for them, I do! However, there is this constant attitude from the Irish citizen that ultimately results in the individuals blaming everyone but themselves. When a person remortgages their home for an additional €100,000 to "do it up", one has to question not alone why the loan was approved but also why the hell the individuals thought nothing of borrowing such a sum. People talk about the bailing out of banks which hold the monies of the people of the state and how it is morally wrong, yet, they all seem to want their own individual bail outs. If you buy a TV on credit and after 2 months stop repaying the shop, what happens? It gets taken back. Why people can't fathom that you don't get a house for free is just beyond me!

Here Here! In fairness there people in this country who seem to think money grows on trees.

[How bad boy]

What I can't figure out is how much the monthly repayments were. I know a person who has a €200k mortgage and is paying €570 per month. One of the couples on the Late Late has a mortgage of €300k and were expected to pay €1,700 per month. How come ?

Another point: bank staff who pester the couples with telephone calls should have the backbone to refuse to indulge in such practices
I call shenanigans on this.

€570*12 = €6,840

€200,000/€6,840 = 29.24 years.

If they're paying that little, they'll struggle to even pay off the principle in 30 years. Just for shits n giggles, I calculated how long it would take to pay back €200k at that rate, at an insanely low rate of 3% interest pa.

It wouldn't be paid back until 2080.

At 4% interest rate on that mortgage, at that constant payback, by 2080, they'd owe over 800k.

Whoever told you they're paying €570 per month on €200k is either never going to pay back their mortgage and has a moronic bank manager or is bullshitting.

[SuperHans]

I call shenanigans on this.

€570*12 = €6,840

€200,000/€6,840 = 29.24 years.

If they're paying that little, they'll struggle to even pay off the principle in 30 years. Just for shits n giggles, I calculated how long it would take to pay back €200k at that rate, at an insanely low rate of 3% interest pa.

It wouldn't be paid back until 2080.

At 4% interest rate on that mortgage, at that constant payback, by 2080, they'd owe over 800k.

Whoever told you they're paying €570 per month on €200k is either never going to pay back their mortgage and has a moronic bank manager or is bullshitting.

That's an interest only figure - no doubt.