This is a very long piece: sorry in advance.
We are living in an economy and not a society: the bit below is my belief and mine only, not necessarily that of the Hub or Hub volunteers.
Why are banks not talking to you, why are there no deals being cut: there is, as always a bigger picture.
There is no point here going into securitisation, we know all about it and it is the elephant in the Irish room, being danced around.
Your mortgage was securities and off it went to the Irish Stock Market, we believe that your mortgage was up and down three / four time, the banks made money each time: the Bondholder received the interest and the Bank received principal and everyone is happy (maybe not you).
You default on the loan and you have now broken the contract and opened the door to a Civil Bill for Possession. Your interest, arrears and penalties take on the form of a rocket and your loan explodes into free fall: after a year or so your loan now becomes unsustainable.
Why are there no deals, write downs: well apart from the fact that your original loan was sold on and sold on and sold on, there is the major problem with the fact the Banks over securitiesed the whole banking system, over lent and were predatory lending.
We have one case where the Bank produced 3 loan offer letters and then securitised the same loans; three times.
But what is the crux of the problem: with all of the above and from my experience it is becoming apparent that the original documents are missing (destroyed) and the Banks can’t produce them and here is the problem, how do you clean up the mess: take the homes back, get a possession order wipe the slate clean and start again: at these auctions the deals are cash only and that is another point: would you buy a car from me if I offered you a photo of the log book, because that is all they seem to have.
So: how do you clean up the Banking mess that is Ireland, take them back, get a possession order and claim on the default insurance. Yep default insurance, it then becomes a battle and deal between the two (insurance co and the bank): why do you think you see the fire sale.
Or move them into a trust, the likes of Target Investment to be rented out: the now retired Honohan (central bank) has already told us that Ireland will be a rented nation and because the folios will be floated on the foreign exchange markets; because we expect large foreign multinationals to take a piece and being large multinationals and their overheads::::::: rents in Ireland will have to go up to accommodate them.
Consecutive governments have ruined Ireland: asset stripped the natural resources, the last target was the general public and believe me here; standing in life meant / means nothing: labourer, doctor, accountant, entrepreneur, builder, barrister or just plain old tryer’s, the list is endless until you get to Judges, Solicitor, Politician!!!!
The Government allowed the new Acts and Statutes to fast-track everyone through the courts, the Eviction Bill be the worse ( #thehubirelandrepealtheevictionbill ).
The Commercial Courts are as corrupt as it comes, Corrupt as hell, does not matter whether it is Circuit or High, they have a job to do: “” Clean up Ireland, Clean up the mistakes of the Bank, hide the pure greed of the Irish Banks”:: Germany has dictated it and Ireland will fall inline, Enders new rain (no spelling mistake there) is preordained, they need a puppet and we will get a puppet; your independents will sell their souls for money and notoriety.
Basically: we are fecked and personally I can’t see a way out: Ireland will travel back in time to the 1800s but this time it will be our / your own people: an Irishman that does it and is already doing it, doing it for profit and gain: money.
We will do our best to work the Courts and stay in the game because the change is coming: The Hub – Ireland will always be there and stay in the ‘game’, keeping you fighting for your family home, and staying in the game: it will change, if we are being attacked: we are doing something right, if our information is being corralled = them we are doing something right: keep on keeping on:
The amount of shite that is going on in the Courts: it is time to stand or go to European Courts:
Equity of Arms:
The principle of equality of arms is a jurisprudential principle issued by the European Court of Human Rights and is a part of the right to a fair trial written in the (European) Convention for human rights and fundamental freedoms.
A Civil Bill for Possession through the Circuit Court is a ‘Summary Summons’: summary summons is against your human rights, it is against your constitutional rights: penny dropped? It just did with us.
The Registrar / Judge has no option but to give the Banks what they want: at any point the Registrar (the Sheriff on commission) can say “papers in order and give an eviction order”……………
So lets start: Notice of Motion to change the Summary to Plenary, on a Grounding Affidavit, after all you are there, you dispute the CLAIMS of the bank: who broke the contract first (Interest Rate Check Ireland). Forged papers, unsigned paperwork! There is a litany of reasons to change the case from Summary to Plenary.