A Repossession Guide for Irish Homeowners

We have written ‘A Repossession Guide for Irish Homeowners’ which you can download by clicking on the picture to the left.

The guide is there give people an understanding of the arrears & repossession process, and what you can do to help yourself.

We hope you find this useful, if there are other things that you feel should be included then leave a comment to that effect so that we can develop and improve this tool for people in difficulty.

This is part of an industry-oriented solutions based approach, we don’t intend to ever sell this document or control distribution of it, reproduce it, forward it, print it out and give it to somebody you know who might be in difficulty, our sole hope is that this may bring some degree of help to those most in need of it.

Sincerly, Karl Deeter, Irish Mortgage Brokers.

[This document is a pdf you will need to have adobe reader installed to view it, you can get Adobe Reader by clicking on the image …

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How can I avoid reposession?

With news coming in that repossessions are rising it is an opportune time to give our readers a few ideas of what you can do should you find yourself in difficulty. Repossession is always a last resort for a lender, they will generally not come out of the deal profitably, the person who bought the property will also come out a loser with a bad credit history to boot.

So what should you do if you think you may be have problems with your mortgage? First and foremost you need to contact your lender straight away once you feel there is a problem, ignoring the issue is the worst thing you can do because it means you will be passing by viable options and could arrive at a point where they no longer exist with the double whammy of still having problems, problems which will only escalate if not resolved.

1. Switch to an Interest Only loan: This may be an option on your home and …

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