Two brothers, one of whom is blind, on Tuesday lost the €650,000 home they bought together in 2009 after debt on their joint mortgage spiralled to just under €1 million., granting so-called vulture fund Promontoria Dac a possession order against David and Mark Darcy in the Circuit Civil Court, said the brothers had made only two mortgage payments, totalling €1,600, in the 10 years since they had bought the property.
Mr Keane, who appeared with Dylan Byrne of HJ Ward Solicitors, said the brothers had opposed Promontoria’s application for a possession order since the case had come to court almost four years ago. Ms Justice Linnane said the brothers now owed €991,000 on their mortgage, including €351,479 of arrears on repayments, and stated that they had effectively lived rent-free in the property since 2009. “Someone who is renting and paying only two month’s rent in 10 years would not be allowed to remain there,” she said.was still living with his family in the property. David’s wife Joy, mother of their two children, had been made a co-defendant in the case, but the costs order was not applied to her.
She said David Darcy had become unemployed following the financial collapse in 2009 but had been working for the past year. She said he had twice asked Promontoria to accept settlement agreements but these had been refused. Solicitor
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Source: IrishTimes - 🏆 3. / 98 Read more »