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A MAN IN his 30s has died after a single-vehicle road collision in Co Cavan.
Gardaí are appealing for witnesses to the crash that occurred at around 3.45am this morning on the L3022 in Virginia, Co Cavan.
The driver and sole occupant of the car, a man aged in his 30s, was pronounced dead at the scene.
His body has since been removed to Navan Mortuary where a post-mortem will be conducted at a later date.
The road is closed and local diversions are in place. Forensic Collision Investigators are examining the scene.
Gardaí are appealing for any road users who may have camera footage and were travelling on the L3022 in Virginia, Co Cavan between 3.15am and 4am to get in contact.
Anyone with any information is asked to contact Bailieboro Garda Station on 042 9694570, the Garda Confidential Line on 1800 666 111 or any garda station.
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There is a big difference between “cant” and “wont” in the real world but in this case they’re one and the same
@Is Mise jay: Our government stand idly by while evil swoops for a quick buck adding more misery and more numbers to our already third world homelessness problem. Makes one wonder who in their right mind if any are advising these clowns?
@Is Mise jay:
1) We don’t own Ulster Bank
2) Most of the loans being sold are for Buy to Let’s in arrears for an average of 3 years
3) Irish banks are more likely to foreclose than a fund
4) No other country has home loans 5+ years in arrears
5) If I stopped paying rent is be kicked out in no time. How is it fair that people can just refuse to pay their mortgage for years?
@Frank Cauldhame: I’m gonna say the banks are advising them
@Is Mise jay: Can’t stop the banks from selling mortgages to vulture funds. Can’t stop themselves from taking around 4 months holidays throughout the year. Can’t stop themselves from taking pay rises. Tough job being an Irish politician!
@Brinster: any evidence to back up these claims?
@Brinster: Thanks Brendan. Keep repeating yourself, someone will eventually believe you.
@Is Mise jay: Yes, batten down the hatches lads because if they’re selling performing loans to vulture funds, it could happen to any one of us. Feck knows what the point of the shower in the Dail is if they can’t stop banks owned by the country from selling off loans to vulture funders. They can’t build social housing. They can’t stop the sale of performing loans to vultures. They can’t force state hospitals to provide services contrary to the ethos of the hospitals, most of which are run by the church. What the hell can they do, other than awarding themselves €20k pa travelling expenses for cycling to work?
I for one am delighted mortgages 7 years in arrears have been sold. No controversy here.
@Bill Brown: Yes best decision in a while. These mortages must be resolved and if the banks cannot do it and legislation binds their hands, then it must be given to someone else. Unfortunately we’re not capable in this country of having a grown-up discussion on default mortgages.
@Kevin Sweeney: partly because the banks aren’t willing to consider non recourse structures for mortgages. A grown up conversation has to involve more than just demands for repossessions.
@Kevin Sweeney: ‘Yes best decision in a while. These mortages must be resolved and if the banks cannot do it and legislation binds their hands, then it must be given to someone else.’
You could always change the legislation.
@andrew:
Why?
@Liam Doyle:
Please tell us what affect non recourse loans would have on interest rates? A clue would be the difference between what is charged against a car loan from a bank (The car and only the car) and your average mortgage.
@P.J. Nolan: they force lenders to accept a stake in the market (as long as they can’t sell on packaged debt to investors which is a very new practice) so it combats irresponsible lending which causes overheating. It’s common practice in many countries, can make credit harder to get but interest rates certainly don’t reach car loan rates.
@P.J. Nolan: We majority owned those loans and they’ve been sold out of state meaning all money generated from them is not lost from our economy. Not really the smartest move.
@Kevin Sweeney: unfortunately in this country they are not capable of having a grown up discussions. Full stop. Ireland is now on a par with third world countries.
@Bill Brown: Dont forget the ones that have never been in arrears, but have been sold to sweeten the deal! I’m sure they’ll be fine tho, retired texan’s are a pretty nice bunch I believe.
@Patrick Kearns:
Wrong, the money generated from the sale stays in the economy.
@Liam Doyle:
As you say yourself, they can sell on the packaged debt to so it would not do what you want it to do.
Either it increases rates or make credit more difficult to get (it’s difficult enough at the moment) bottom line it makes responsible borrowers pay more for the irresponsible ones
@P.J. Nolan: You have to believe the banks and government are telling the truth.
They’re not. They never have on this issue. They prefer to hide the truth.
The banking system is so rotten, so corrupt, they are like a house of cards. They need the Vultures. Noonan knew this. It’s why he invited the Vultures in in the first place. Gave them the “special status” to encourage them.
People are the victims.
@andrew: No i can’t but i do vote for candidates who will. Unfortunately im in the minority while everyone else wants the same old same old
@P.J. Nolan: Where is the vulture fund? The US, when they make money, where does it go? The US. The money generated from those mortgages leaves our economy and goes to the US economy. The US economy is not the Irish economy and can only be your economy if you’re from the US. The immediate sale goes to TSB but there after, all monies generated off of those mortgages or from the sales of those properties, outside of tax, are gone from. That’s what I mean. This means more families out on the streets and in to hotels, who pays for that…? This is a loss for our economy and the real question is does our government not know this or simply not care?
@P.J. Nolan: it doesn’t… And they have tax write offs and charity status…
We own and/or control PTSB and AIB. If the government minister decides not to exercise that control, that is his decision. But he still controls it. Even if he has delegated control to anothet person or persons (a board), he still controls it.
@Kevin Sweeney: correct. activist investors do exist also. the government can exercise control if they so wish. however what is happening needs to happen.
@iohanx: People need to be made homeless by these vulture funds…?
@Patrick Kearns: People who don’t pay their mortgages need to be evicted to make room for those willing and able to pay for those properties.
Releasing 10+k properties into the market is surely a positive thing.
@Kevin Sweeney: maybe he should change his name to Pontius Pilate!!!
Absolute bull, this government and the previous under kenny are using “natural selection”
Only the fittest survive.
If that’s the attitude, why have a Taoiseach, a minister for finance?
Their jobs are obsolete.
I’m ashamed to call myself an Irishman, with the “black and tan” mentality this government has.
@Trevor Hayden: it is the great irony of neo-liberal politicians, pursing their ideological agenda will ultimately render them obsolete.
@Trevor Hayden: The state owns some of the banks. not the people.
@Sean Conway: True Sean, but with a majority shareholding they should be able to intervene to protect the legitimate borrowers who are trying to reach a settlement.
I never stated the people owned it.
Seriously? Shareholders may not actively run the businesses they own, but they do appoint boards of management that run it on behalf of shareholders. The board knows their ultimate responsibility is always to their shareholders, as these are the only people who can actually remove them if they are not satisfied with the board’s performance. It is by no means a stretch therefore to say that banks owned by the Irish state are run by the Irish state, albeit by proxy.
@Liam Doyle:
I would agree with you on that, the suggestion that the government could not stop this if they wanted is BS but on this I think the government should stay out of it.. There are options for people genuinely in trouble, pips etc or go the “developer” route of bankruptcy but someone who doesn’t engage at all is acting the pr*ck.
Tracker mortgauge fraud,minister or gda did nothing about it and on and on,we dont own the banks,but we were forced to bail them out.
@@mdmak33: there was no fraud. It has been ascertained. You are not very clever.
The same people who keep giving out about the higher mortgage rates in ireland than the rest of europe can not see the direct link between banks not being able to foreclose in a realistic time frame for non payment versus the time it takes in the rest of europe. Yes there is a unavoidable social impact for genuine people, but the adjustment is needed. Once the banks improve there balance sheets there is a real strong argument to campaign for rates to come down, but sure there won’t be a campaign because the people who pay mortgages go to work everyday so no time…
@Jonathan Whelan: And where do all these workers go to work not the banks by any chance !
@Johnny Mason: totally reasoned arguement, thanks for the input…
Thrown to the vultures, literally
Kiss upwards kick downwards – Fine Gael 101
Whats new ?? They cant fix the health service cant fix our water supply our roads cant fix houseing .. cant controll the banks who were saved by the taxpayers..why oh why are we paying these guys wages at all ????????
A real Cat and Mouse game on Now the Mouse will hear all about it at the next election Paschal
@Johnny Mason: the only way this will happen is if the smaller parties gets the votes and not the mainstream ones. The smaller ones cant do any worse than the bigger ones.
What’s really funny to me is when do we wake up?
@G Jazz:
About 6:30am according to Leo
@P.J. Nolan: That actually made me laugh!!
Make it illegal for Vulture funds to operate in Ireland. Many other countries have done so. Donohue just following party lines which obviously are being dictated by persons unknown.
@John Farrant:
What magic powers do these funds have to say people are actually pooing their pants at the thought of them buying up these mortgages?
I am sure the people who are still living in the house they stopped paying for 7 years ago are not the slightest bit worried
A lot of these mortgages have not been paid for 4-7 years. The main reason the banks are selling multiple non-performing loans to funds is because they can’t foreclose or repossess the houses without incurring significant costs and difficulty. Individuals who are paying their mortgages are picking up the tab for non performing loans with higher interest rates.
If banks were actually able to repsosess houses when mortgages are not being paid, however unpopular that is, there would be more private supply on the market, lower interest rates, and they wouldn’t be sold off to fulture funds.
@Andy Dwyer: What costs and difficulty would the banks encounter in repossessing homes and why do you think these vulture funds won’t encounter same?
@Bernie Roche: Are you serious?? Debt write down, non-payment of loans, legal costs, eviction costs, etc.
The vulture funds are buying books of non-performing loans at massive write downs because of all this!! You do understand why the banks are selling the loans right? Hopefully the funds will look at restructuring some for the loans but I’m assuming they will evict people who continue to not engage and refuse payment at significant legal costs.
@Andy Dwyer: Yes those are some general “risks” associated with moneylending,
Sorry I thought you were talking about the costs and difficulty in taking possession of the home, which will be the same for the fund.
Only probably more difficult for them except for people who are scared by the word vulture.
Hopefully restructure? People who aren’t paying and still living in the home will be able to keep doing it and the fund will write them off because it won’t be economically viable. Yay
@Andy Dwyer: you do know the banks have an insurance policy on each mortgage that they collect on if it goes into default. They don’t lose… Gain thrice… From the insurance and the sell off and the interest charged
Amazing how the rules can be changed to bail out banks .. but screw the same people whose money was used to do so …. corrupt corporate governance
FFG are one.. They continue with the charade of FF and Fg..
100 years of FFG. Change so badly needed..
@Willy Malone: Change to what Willy?
Anyone anywhere on the political spectrum will tug the forelock to these banking criminals.
The corrupt can’t out the corrupt ,They all crawl in the same snake pit
The government doesn’t run the bank, this is a fact. What is also a fact is that the bank run the government!
Certainly is a cynical move by the bank to sell while the dail is in recess but what Mr Ross must understand is that the bank most likely consulted with the government to do just that
How do you know if your mortgage has been sold if you’ve never been in arrears
@Metaljester: if you call the bank, they are legally obliged to tell you if your mortgage has been sold.
Some Journo’ type should go out the loan-star state and find out more about these vultures, follow the money trails, see if there’s any connections to other Irish interests,
this country needs 100s of Louis Therouxs to lift all the dirty rocks so we can arm ourselves when these lizards call at the door.
The surprise that FG would do anything that would upset their rich friends – they could not care less
Most of their support base live in waelthy houses and gated communities
The sneaky snakes in government again , No power over the banks?
Not a real government at all just puppets of an EU superstate.
If I was a majority shareholder in a company I’d certainly want some say in large decisions like this that can impact on the financial performances, market credibility and customer satisfaction in such a big way, let alone to be ‘consulted’ it’s the least any one would demand so as to keep an eye on your investment!
I ubderstand the need if someone is in arrears to that the house gets repossessed. But I wish it didnt have to be sold to vulture funds I wish the homes coukd be affordable housing not social housing but affordable housing or if some of these properties could be rebuilt into maybe 2 small bungalows in one plot, just to try and make the most out of the repossessions not to a vulture fund that rents out a room for 800e a month including bills.
How long do these clowns need to spend in government before eligible for a pension?
What greater right do these funds have to repossess family homes?
None that I can see
If anything they have less right to collect than the original con artists
@Bernie Roche: The con artists are the people who refused to pay their mortgages.
@John Mitten:
The banks are the biggest criminals in the country.
I have nothing but respect for anyone who takes them on in whatever way they can
@Bernie Roche: Take them on? It’s us mugs who pay in the long run.
@John Mitten: With respect John if you yourself think you are a mug then the prospects are not good for you not getting taken to the cleaners
It’s absolutely baffling that somebody who was never in arrears can have their mortgages given over to these parasites, yet there would be penalties galore for a home owner wanting to transfer their mortgage to another lender. This BS is just unreal. Our government truly are useless human beings.
The governments cowardly handling of this disgraceful carry-on is staggering, I’ve no doubt they cajoled banks to sell during Dail Recess to avoid any questions of them. Eoghan Murphy’s lack of interest or response is predictable as too will his boosom buddy Leo, moving him to a cushy number as soon as the poo it’s the fan, and there’s no doubting it will as soon as these lecerious vulture funds start acting the maggot.
Can’t help giving yerselves pay rises either despite bankrupting the country!
These politicians have nothing but contempt for the citizenry of Ireland, another degenerate disgusting politician.
@G Jazz: Which citizenry? The ones who have not paid there mortgage for the best part of a decade? Everyone of these non contributing mortgages contributed to the state the banks are in, yes in a very small way compared to developers, but they still contributed to the problem.
@G Jazz: What do you want him to do?
@Jonathan Whelan: You need to educate yourself. I love the way you’re blaming people with very little money and absolutely no power. The Irish government is the cause of the mess this country is in, the fault is not with some poor mother of 4 struggling to provide her for her children, it’s with the government, run by degenerates, that sanction the selling of mortgages to foreign banks who could not give a sh*t about the citizenry of Ireland.
@Liam McLiam: Act in the interest of the Irish citizenry, instead of satisfying the degenerate bankers.
@G Jazz: Na man, I’m good on the education front a trade & 2 degrees. Yes it is the goverments fault we are in this mess, because we are still expending 20 billion a year on social welfare (albeit most is justified but not all) the same as during the height of the recession. There needs to be a cap on social welfare payments end of discussion. Alot of these “poor souls” you refer to pull more money in in there pj’s between social, hap & medical cards, than what some gardai, nurses, teachers do . Now that is something the goverment should sort out. CAP SOCIAL AT 39 MIN WAGE , can’t afford the kids don’t have them.
@Jonathan Whelan: I agree, a welfare state is no good. So why would you target the people getting free money? The government is at fault. We, the people, should demand more of our government.
@G Jazz: I’m shocked! A reasoned responce! Hmm and very valid. We should demand more from our goverment, but unfortunatly the people with no voice are not the great unwashed or does trying to set the guinness world record for most days without work, those with no voice are the people with there head down working, stuck in traffic, worried about there kid with a cold as no medical card. Worried about saving for college, while the dole lifers kids get it for free. Those who work are the 2nd class in our society, they are the people who need looking after and there is a grosing distain for the hand out brigade..
@Jonathan Whelan: and there it is!! The divide and conquer attitude our government relies on. While we blame each other they rub their hands and grin. Have you ever heard Of The economic hitmen? Check it out and educate yourself. The 2008 crash and bail out was deliberate. A means to get countries and citizens up to their necks in debt they could never repay. I’m not a tinfoil hat conspiracy theorists, I am an educated woman who studies economic policy. It’s all a big plan to keep you and I paying. The government doesn’t run the bank, banks all over the world run governments
@Linda Keneally: hmm must look it up… stay tuned
I’d be very worried if I was on a variable rate and my mortgage was sold to a vulture fund. Much more likely to see the interest rate jacked up.
While people in mortgage arrears need to be accountable for non payment, a government led strategy would be more effective. If the government were to step in and restructure non functional mortgages and ensure re structure agreements where adhered to on risk of losing your home it would be a win win situation.
If a government backed restructuring agency was created and run correctly ie. The state buys some of these mortgages (family homes), restructuring the payments to an agreed monthly repayments schedule, 3 misses payments and deal is off. House is then owned by the state and either rented back to the family or used in the social housing stock.
Paschal, by his deafening silence that he has lost control of his portfolio and has his junior minister covering his ass.
The sooner these Blueshirt economic traitors are removed from office the sooner the better. They have sold the country to the devil.
In the case of PTSB, the government owns 75% of the bank. That is called a controlling share. The government calls the shots there. Where the government own less than a 50% there is nothing much it can do there.
Here is a thought. Let PTSD buy flagging mortgages from the other banks for the outstanding amounts owed on those accounts and let those mortgages be restructured to those properties for a rent to buy scheme. People are not evicted from homes and the government gets revenue (all be it at slower rate). If families refuse to pay, then by all means evict. There are no free meals, but the government are at least seen to try and help. Secondly the government has increased its housing stock overnight and maybe they could learn from their mistakes from NAMA.
Th
@Isthatright: it’s so true
They can apply extra tarrafs and taxes on those banks they don’t have a controlling share on who sell to vulture funds. They can also make the Irish environment very hostile and expensive for vulture funds.
Reading through threads like this fills me with dread as to what kind of country we have become. These criminals running the banks have been allowed to play monopoly with real pieces for far too long and the casual way in which politicians throw out soundbites to justify their non interference in banks is sickening while at the same time defending every single move these criminals make. The fact that none of them saw any kind of censure for stealing money in the tracker mortgage scandal tells them that our politicians fully support what they are doing.
The whataboutery from the usual ivory tower dwellers is also very typical of the kind of society we are now. Sad really, but no surprise.
We are not fools we know you don’t own the banks but put laws in place to make it difficult to evict these people vulture banks are exactly what I it says they will pick you until you are no more used to there greedy pocket
@William Rowlands: I think that’s what John Mcguinness’ bill is designed to do. I wonder if the timing of these sales is twofold 1) while the Dail is away and 2) before this bill is passed lest it be applied retrospectively.
The Rothschild family own the banks and nobody can interrupt their end game.planned moves that the government can’t disable !
For government to step in would be protectionist. We live in a free market economy run by the most blatantly Thatcherite government we’ve ever had, supported by FF. It’s every man for himself now. Theres no way to change it that I can see.
Irish need a referendum to prevent their Fake TDs selling the mortgages on their Family Homes.
See here for definition of “Fake TD”
https://www.change.org/p/referendum-on-family-home-special-status-in-ireland
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