Woman facing repossession attacks lender over mortgage
The 52-year-old mother of three from Gorey, Co Wexford appeared before the High Court yesterday to oppose an application by sub-prime lender Stepstone Mortgage Funding to repossess her home after she had built up arrears of more than €40,000.
Clutching rosary beads, the woman told Ms Justice Elizabeth Dunne that she had found out in the past week that she was eligible for free legal aid.
However, she explained that it could take up to six months to have a solicitor appointed to her case.
Lawyers for Stepstone, a subsidiary of KBC Bank, said the total outstanding on the property was €291,883 Although counsel for Stepstone said the case had already come up before the High Court on seven occasions since January 2009, the woman said she was unaware of any of the previous hearings.
“I never got a letter to say it was in court,” she said.
However, Stepstone said it had proof that letters had been sent to the woman on each occasion.
Outside the courtroom, the woman said that she only realised when she had recently got in contact with the Money Advice and Budgeting Service that Stepstone had advanced her a 30-year loan, even though she would be 79 when it would be fully repaid.
“They didn’t make a proper assessment of my ability to repay,” said the woman, who added: “They can’t throw everyone out on the street.”
However she vowed: “I’ll honour my debts as best as I can.”
She explained how she was a divorcee who had run a number of failed businesses. The application was adjourned until July 4.
In a separate case, a woman from Navan, Co Meath, broke down crying as she resisted attempts by another sub-prime lender, Start Mortgage, to repossess her family home.
The middle-aged woman sobbed openly in court as she outlined how her husband who was dealing with their mortgage difficulties had recently been given a six-month prison sentence.
“I just feel so upset at everything going on. I’m just looking for a bit of time,” she told Ms Justice Dunne.
The court heard that arrears of €107,000 had built up on the loan to leave an outstanding debt of over €601,000.
Kenneth Bredin, counsel for Start Mortgages, said the couple had not adhered to an arrangement to pay €1,500 per month even though the actual repayments should have been €3,700, Mr Bredin claimed just €8,000 had been repaid over the past two years.
The woman, who told journalists that her husband had run his own business and was owed a lot of money, was advised by Ms Justice Dunne to contact the Legal Aid Board and MABS for assistance.
The case was also adjourned until July 4.
A total of eight repossession orders were granted by the High Court yesterday including one to GE Capital Woodchester for a house near Moate, Co Westmeath, on which over €223,000 was owed.
The High Court heard that the married couple who owned the home had separated.
Lawyers for the male partner claimed he had been “kept in the dark” about the situation as he had advanced money to his wife to make repayments to the bank.
However, lawyers for GE Capital said they had no information on any arrangements between the couple.
