Health is ‘shagged’ over mortgage arrears

A Clare man said yesterday his partner’s health “is shagged” from the stresses of dealing with their worsening mortgage debt.

The man was speaking after he received a reprieve in Pepper Finance Corporation (Ireland) Ltd’s pursuit of him and his partner over a mortgage debt of €196,957.

The man said yesterday the adjournment of the case “is probably deferring the inevitable” in Pepper repossessing their home.

The man said his partner has been sick, “but she has gone back to work evenings to help to try pay off the debt, even though she shouldn’t work because of her illness”.

The man said their take-home pay when the mortgage was secured was €1,200 and now it is less than €500.

He said: “The debt just keeps on mounting.”

The couple took out a mortgage of €215,000 in 2008. The total amount outstanding is €196,957 — including arrears of €36,940.

The man told county registrar Patrick Wallace in court they should be able to pay €800 per month now.

The man said if the house was put up for sale today “you would be lucky to get €140,000 for it”.

He said: “I don’t see how the bank can benefit from repossessing and selling the house at the moment.”

Mr Wallace adjourned the case to May 15.