RTE: So a fund bought your mortgage, what’s next?

Aengus Cox in RTE did a piece on funds who buy loan and there are sound clips and a written report on it here.

We made the point that “quite often do deals that the banks won’t do and that’s the frustrating thing – there’s massive write-down being done by these funds, and to me that’s a very positive development. They’re putting an end date – an end point – in situations that the banks have not had the courage or capacity to do. And sometimes finalising something is actually part of the solution. Now it might not end the way the person wants but this is an adult world where outcomes are based on decisions and consequences, not on what you want.”

The piece does a very good and fair job of looking at all sides of the argument, those of debt advocates, the funds themselves and market participants.

 

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