Couple given chance to save €550k home

A couple with an investment pot in the US worth more than €144,000, and a rental holiday home in Wexford, have been given another chance of saving their €550,000 Dublin residence from being repossessed by a bank.

Judge Jacqueline Linnane heard in the Circuit Civil Court that John and Bernadette Lyons had also been forced to rent out a room in their home in Clonard Lawn, Sandyford, Dublin 18, for €1,500 a month to help meet their €3,500 a month mortgage repayments.

Joynt and Crawford, solicitors for the AIB Mortgage Bank, told the court the couple were not keeping up the repayments and owed more than €144,000 in arrears alone on their mortgage. Their overall debt to the bank stood at more than €440,000.