English
FrançaisHi i need advise regarding my leaseback. Due to bad times i had to stop paying my french mortgage and now i have received a court order saying unless i pay it off in 8 days it will be reposssessed. I have been worried sick about it for a long time now and with redundancy and near marriage break up i just couldn`t afford it anymore so let it go into big arrears. I personally don`t own my house in Ireland it belongs to my wife and her mother and my wife had no dealings with the property in France and the mortgage was only in my name. What i need to know is what will happen once the property is taken back and what other impications are there for me. I basically have nothing to give them so where do i stand. Can anyone help me or advise me. I have tried talking to the bank but they just don`t want to know.
The fact your name is not on any asset in Ireland is a bonus for you. They cannot take blood from a stone (so to speak). However the Bank may issue proceedings against you for the diffence (once they sell the property) between the loan amount and the amount they were able to retrieve from the sale. Ensure any asset you have now is transferred to another name and when they do come calling it may be best for you to liquidate all debt. The cost in NI is aroud £1.5k I would expect simular in the ROI.
did you borrow the money in France or Ireland?
Hi
I am in a similiar situation. The bank have just demanded the repayment in full of my mortgage. I simply caouldn't meet the mortgage payments. I hadn't intended contesting the repossession but I'm wondering if I don't would it make it easier for them to enforce a judgement here in Ireland.
Anyone have any advice?
Thanks in advance
Hi Gerry
I borrowed in France. Do you reckon that might helpme?
If the finance was arranged through the agents who sold the property to me with a French Bank and the leaseback turned out to be a disaster (little or no rent) I would have no problem throwing the keys back and walking away.
I also borrowed my money from a french bank and they have issued me with the repossesion orders i`ve just let them get on with and let them come after me for the balance. As someone wrote they can`t get blood out of a stone and i have no assets in my name. The bank didn`t want to listen so i just took the drastic action and just ignored everything and got on with my life cause when i worried about it it ruined my life so i had no other choice.