For Evelyn and those new to our site: Not all totally correct on each mortgage but correct on the vast majority: So you took out your mortgage, within the month they securitised it and made around €10,000.00 per 100K, they then moved your credit rating down a notch or two and bought the mortgage back and sold it again at a lower dividend, when you defaulted the Bondholder gets mad, the bank then loans their name to the true owner and sues you, at some point the banks insurance kicks in, depends at what level they insured you (not your life cover, their insurance), most insurances are on eviction orders. So then they sell your property at a fire sale rate and come back to you for the shortfall! The banks do another trick: they sell your mortgage to the solicitor that is acting for them, at around 19 cent in the €uro. And the court system allows it, full blown; legislation has been changed so we can look at you and you can look at us and say “what the feck”. We now know that those places taken back by the courts are not in fact sold on the open market but put into a Folio, pension fund; maybe? Our first attempt at a website: enjoy, education is what they hate. https://sites.google/site/irishselfhelpzone/home
Posted on: Sun, 23 Nov 2014 23:23:31 +0000
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