Posted on: 18th Nov, 2010 09:26 am
Dear Sir/Madam,
I am an American Citizen who recently married an Irish National. We are currently living in Dublin and I am a student. My husband bought an apartment 2 years before we married and before he changed jobs. Now as a teacher, and me with no job, we are struggling to make ends meet at the moment. We would like to sell the apartment, but as I am sure you know, the housing market in Ireland is diabolical and no one is willing to buy. So, we were wondering if it was possible to defer the loan payment until I graduate. I will be completly my post-grad in August 2011 and should be able to find a full time job and help out with the finances then.
Sincerely,
Michelle Goodrick
I am an American Citizen who recently married an Irish National. We are currently living in Dublin and I am a student. My husband bought an apartment 2 years before we married and before he changed jobs. Now as a teacher, and me with no job, we are struggling to make ends meet at the moment. We would like to sell the apartment, but as I am sure you know, the housing market in Ireland is diabolical and no one is willing to buy. So, we were wondering if it was possible to defer the loan payment until I graduate. I will be completly my post-grad in August 2011 and should be able to find a full time job and help out with the finances then.
Sincerely,
Michelle Goodrick
Michelle, you're not likely to get a deferment of payments on a mortgage loan (said despite my utter lack of knowledge of Irish banking laws). Lenders, in general, will not grant such an extraordinary request. That's not to say that you can't arrange for some sort of modified terms with them.
The first step, frankly, is to contact them and ask specifically for their assistance in addressing any and all options that might be available. I wouldn't hesitate, if I'm you, to ask about a deferment, but don't be surprised if they simply say "no."
The modification thought might well make sense to them, inasmuch as your August graduation isn't all that far away. I wish you well.
The first step, frankly, is to contact them and ask specifically for their assistance in addressing any and all options that might be available. I wouldn't hesitate, if I'm you, to ask about a deferment, but don't be surprised if they simply say "no."
The modification thought might well make sense to them, inasmuch as your August graduation isn't all that far away. I wish you well.
You might just need a little bit of "the luck of the Irish." Go kiss the blarney stone or find a shamrock and wish on it!
Sorry...that just came to mind.
Sorry...that just came to mind.