Another casualty of the recession

That wouldnā€™t be very fair on the fine people of dalton parkā€¦

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im sure theyd find a way to assimilate their new neighbours, maybe RTE could do show on it.

Shameless has been done already. Twice.

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Was this in court on Tuesday?

A bankā€™s bid to repossess the Dublin residence of MEP Mick Wallace has been adjourned by a judge for three months.

Mr Wallace was not in the Circuit Civil Court on Friday when Judge Jacqueline Linnane put the matter back until October.

At a hearing last month, Judge Linnane had heard there had been a change in the then Wexford TDā€™s financial situation following his impending election as a member of the European Parliament.

He was elected as an MEP for Ireland South on June 5th.

Mr Wallace, who was declared bankrupt by the High Court in December 2016, had been granted an adjournment in his June 5th hearing of AIB Mortgage Bankā€™s application for possession of No 13 Clontarf Road, Dublin 3.

Chris Lehane, official assignee in bankruptcy, had been named as first defendant in the bankā€™s proceedings. Howevr, in an affidavit by a bank manager, it had been stated that the official assignee had not been making any objection to a creditor seeking a court order for possession of the house.

The house had been stated to be the primary residence of Mr Wallace. The court heard it had been purchased in April 2004 on foot of a mortgage loan of ā‚¬825,000, on which there were agreed monthly repayments of ā‚¬2,270.

Judge Linnane, at earlier hearings, had been told that Mr Wallace had failed to keep up the required monthly repayments and the bank was now owed ā‚¬910,800, which it was seeking to recover through the courts.

The bank had informed the court that in December 2016, Mr Wallace had been adjudicated a bankrupt by the High Court and as a bankrupt his interest in the property had become vested in the official assignee, Mr Lehane.

Judge Linnane formally adjourned the bankā€™s application to October 8th.

The marriage of Sean Dunne and Gayle Killilea.

Here we go again. Worrying times in Dublin 6.

About time,thereā€™ll be a few houses picked up for handy money in about 18mths.

Give it a while longer to allow things to hit the floor and then swoop in with cash reserves and buy up property. Wealthy forever more.

This is of course dependent on the existence of cash reserves.

Also, very capitalist pigs-esque.

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Outstanding fiscal advice. The availability of said cash reserves the only small query Iā€™d have.

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The Comer brothers from Galway have been repeating this system for decades.

Sell at peak in one country, buy at low in another.

I wouldnā€™t be surprised if they are still together.

If you had the bottle to do it sell your house now and buy it back for half the price in two years.

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6.8 times average earnings is about the norm is it not, mental and all as it seems?

Be all the usual shite going up for nothing that no right thinking fella would buy.

Rent it to the council lad.Let them put up with the hassle

And then when you get the property back it will be in bits and you will have to pump a load of money into it just so that you can sell it.

Spoken like someone who has been mugged off?

Nah never rented to the council, not worth it and you have no control of who is living in your property. Best thing I did last year was give my tenants their eviction notice and sell the property. No more hassle now and nice tidy profit made on the sale of the property. Being a Landlord is a mugs game.

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Agree 100%

another Footix boasting about the hassle of being a Landlord :grinning: :grinning: