A LIMERICK man missed a second opportunity to sell his home because a bank’s indecision over the case, the most recent sitting of the local repossession court has been told.
In one of 23 cases before County Registrar Pat Wallace, the man, said he had arranged for the sale of his former family home after his divorce and had interested parties willing to make offers.
He was unaware of any mortgage difficulties with the bank and an offer of €200,000 had fallen through because of the bank’s indecisive approach. A second offer of €190,000 offer was now in jeopardy for the same reason.
Having initiated proceedings against the former couple, the court heard that the lender was now delaying resolution to the case.
An application compelling the lender to agree to the sale was dismissed by Mr Wallace who said he did not have the power to make such an order to the bank.
The court heard that a credit review committee required a further two weeks before the bank could make a decision on the case.
Mr Wallace adjourned the case for two months and asked that the bank give a “yes or no answer” to the owners within the next three weeks.
The crisis faced by a family of eight, whose father had fallen ill through stroke 18 months ago and were now struggling to meet their €822 per month, was also outlined to the court.
Mr Wallace heard that two of the family’s children were contributing towards mortgage repayments of €600.
He adjourned the case for two months for a medical update on the father’s fitness to work.
