Tuesday, March 17, 2009
Homeowners and investors who cannot keep up with their mortgage repayments are abandoning their properties, the High Court has heard, as the number of repossessions continues to rise.
Banks and mortgage lenders were yesterday granted possession of properties in almost one third of cases listed before the High Court’s weekly chancery summonses hearing. Four of the 11 orders for possession granted concerned abandoned properties.
Start Mortgages were granted possession of two abandoned properties in Tuam, Co Galway, and an abandoned home in Castletroy Co Limerick which had been bought for use as a Bed and Breakfast.
In November 2006, the mortgage lender advanced a loan of €793,400 for the purchase of the home, which was intended for operation as a BB. Mortgage repayments were made until December 2007, when the property was abandoned.
Counsel for the mortgage lender said it was believed the defendant had returned to South Africa, where she had lived previously.
The Irish Times
The photo is of an abandoned house that I spotted in Gorey, check out this site for some great abandoned photo's.
Posted by Southofdub at 12:14 AM