“Pathetic & immoral” PTSB

Finance Minister Paschal Donohoe (left) and head of Permanent TSB Jeremy Masding (right) met just twice before 11,000 homes were sold to vulture funds

My interest in this development is very real-is my home included in the sell-off?? 

The Finance Minister and the head of toxic bank Permanent TSB only had two official meetings before 11,000 homes were sold to vultures, it has emerged.

The Project Glas portfolio sale was confirmed in July but until that point, Paschal Donohoe and Jeremy Masding had sat down just twice.

During this period of time the bank was embroiled in two fiascos terrorising home owners – the tracker mortgage scandal and home loan sales to vultures.

The pair, along with their officials, met at Government Buildings in Merrion Square on February 26.

The agenda – also obtained under Freedom of Information shows the NPL Strategy and Disposal Plans was due to be discussed, as well as an update on the tracker mortgage crisis. Mr Donohoe and Mr Masding reviewed the same topics again in April. But in the three months leading up to the sale, there were no more meetings.

All you need to know about the pathetic developments in this Bank in which the Irish Government is a major stake holder

By Irish Mirror reporter: Saoirse McGarrigle


Its a nightmare…threat of losing my roof

‘This is like a nightmare’ – Tom (69) on the fear of losing his home

‘I can’t believe at this age of my life I am looking at the possibility of losing my roof’


Fiona Dillon

Fiona Dillon

He was one of the thousands who attended the Raise the Roof rally in Dublin yesterday to show his support for people affected by the current housing crisis.

A carpenter and cabinet maker by trade, he ran the Just Forests organisation for 30 years, but funding for the organisation dropped significantly when the banking crisis hit, and he lost his salary, and fell into arrears.

“I can’t believe at this age of my life I am looking at the possibility of losing my roof. I can’t believe that is happening in the country that I loved, the country that I worked so hard in all my life. I can’t believe it is happening to me. It is like a nightmare.”

He had borrowed €150,000 at the age of 59 and was given a 10-year mortgage by his mortgage provider, and at that time the €1,400 a month repayments were within his means. He said that he was very confident at that stage in relation to the repayments.

“I paid back almost €70,000,” he said. But when he lost his salary, he was unable to continue to pay his mortgage.Mr Roche, who lives in the village of Rhode, said that he took a proactive approach and told his mortgage provider. He has been engaged in a process to try to resolve the situation to the satisfaction of all sides, but there has been no resolution to date.

He said the mortgage provider is now seeking €165,000, which includes penalties.

He is keen to remain in his house because he has a carpenter and furniture restoration workshop behind his house, which provides his source of income. He lives on his own.

“I have worked all my life. I have been working since the age of 13, since I left school, always self-reliant, never had my hand out for anything.”

He is hopeful that what he believes to be a fair and equitable solution can be found to the problem. “I want to be treated fairly,” Mr Roche added.

Source:  Irish Independent 


Raise the roof

I support ‘Raise the Roof’


The Jesuits are urging people to support the ‘Raise the Roof’ housing rally outside Leinster House on Wednesday, saying that it is “an important opportunity to highlight the depth of the housing crisis and the need for a radical change in the Government’s housing policies.”

The Jesuit Centre for Faith and Justice has urged “Christians” in particular to support the rally.

Fr Peter McVerry of the Jesuit Centre said: “As Christians, we must be profoundly disturbed by the fact that in Ireland, one of the richest countries in the world, hundreds of thousands of people are enduring insecure, overcrowded and unsuitable living conditions, financial hardship, stress and anxiety, as a result of housing problems of one kind or another.

“This situation represents a grave social injustice, with deeply damaging consequences for individuals, families, and society as a whole.”

Margaret Burns of the Jesuit Centre pointed out that “officially recorded homelessness has increased by 46 per cent over the past two years.”

Meanwhile, Ms Burns said, “current figures on homelessness reflect ‘adjustments’ that have excluded people who would have been previously included, suggesting that the upward trend is even greater than the official figures show.

“Moreover, the Minister for Housing has recently said is that homelessness may not yet have peaked.” Tomorrow’s rally is an opportunity to say to the Government that its policies are not working and must be radically changed,” she said. Source: Irish Times