Making a deal with your bank :
an insider's guide to managing your mortgage debt.
| Main Creator: | |
|---|---|
| Summary: | Making a Deal with Your Bank aims to help those in mortgage arrears in Ireland. The book gives you a clear idea of how to approach assembling your proposal for the bank, from accurately assessing your current financial position to realistically assessing your goals, and brings you through the principles of negotiation. |
| Format: | Book |
| Language: | English |
| Published / Created: |
Dublin :
Orpen Press,
2013.
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| Subjects: | |
| Notes: | What Does Your Financial Future Look Like? Physical description: xxxiv, 243 pages ; 22 cm. more |
| ISBN: | 9781909518285 190951828X |
Table of Contents:
Disclaimer; Title; Copyright; Dedication; About the Author; Acknowledgements; Table of Contents; Preface; Introduction; Part I: Managing Your Mortgage Debt: An Overview; 1: Processes for Dealing with Mortgage Arrears and Personal Debt; Is Your Home an Asset?; Under Starter's Orders!; Debt Forgiveness Will Be a Lucrative Business; Level 1; Level 2; Level 3; Level 4; 2. The Market Participants; The Participants in the Market; The Central Bank of Ireland; The Banks; Financial Services Ombudsman; Money Advice and Budgeting Service (MABS); Personal Insolvency Practitioners.Insolvency Service of IrelandFinding an Approach to Your Difficulties; Personal Insolvency Is a Formal Process; 3. Dealing with Default; The Process Is the Same for Personal and Business Debt; The Standard Process for Dealing with Problem Loans; Step 1; Step 2; Step 3; Step 4; Step 5; Stay the Course and Stay Engaged in the Process; 4. The Negotiation Process: Doing the Deal; Starting the Negotiation; What Is Negotiation?; Core Concepts: The Key to Success in a Negotiation; 1. Best Alternative; 2. Areas of Possible Agreement; 3. Trading Value; 4. Reservation Price.A Simple Example of NegotiationAvoid Common Negotiation Mistakes; Failure to Prepare Properly; Failure to Apply the Win-Win Approach; Failure to Remain Calm; Failure to Listen; How to Go About a Negotiation; Choose the Right Time; Anticipate Counter-Arguments; Be Specific About Your Needs and Wants; Be Tactful and Listen Carefully; Show Willingness to Accept a Solution; How Strong Is Your Case?; Best Alternative; Areas of Possible Agreement; Trading Value; Reservation Price; Calculate Your Lifetime Earnings.Part II: The Mortgage Arrears Resolution Process (MARP): Your Lender's Short-Term Solutions to Mortgage Arrears5. An Introduction to MARP; Definitions and Meanings; The Objective Is to Keep You in Your Home if Possible; Engagement; It Is a Process; There Is No Eleventh Hour; The Code of Conduct on Mortgage Arrears; Purpose of the Code; The Code Only Applies to Your Primary Residence; Engagement and Co-Operation Are Vital; Full Disclosure and Adherence to Agreements; The Borrower Is Not Just You; 6. Communicating with Your Lender; Starting the Journey.Step 1: Communication
Getting the Right StartStep 2: Financial Information; Accurate Financial Information Is Key; The Standard Financial Statement Is Your Friend; Getting Your Desired Result Is Not Automatic; The Standard Financial Statement; Section A; Section B; Section C; Section D; Section E; Section F; True and Correct Statement; 7. Assessing Your Financial Position; Motivation; What Is Your Goal?; Debt Forgiveness; Maintaining an Acceptable Lifestyle; Reducing Financial Risk for Your Dependants; Do Not Forget About Retirement; Remember to Calculate Your Lifetime Earnings.
Disclaimer; Title; Copyright; Dedication; About the Author; Acknowledgements; Table of Contents; Preface; Introduction; Part I: Managing Your Mortgage Debt: An Overview; 1: Processes for Dealing with Mortgage Arrears and Personal Debt; Is Your Home an Asset?; Under Starter's Orders!; Debt Forgiveness Will Be a Lucrative Business; Level 1; Level 2; Level 3; Level 4; 2. The Market Participants; The Participants in the Market; The Central Bank of Ireland; The Banks; Financial Services Ombudsman; Money Advice and Budgeting Service (MABS); Personal Insolvency Practitioners.Insolvency Service of IrelandFinding an Approach to Your Difficulties; Personal Insolvency Is a Formal Process; 3. Dealing with Default; The Process Is the Same for Personal and Business Debt; The Standard Process for Dealing with Problem Loans; Step 1; Step 2; Step 3; Step 4; Step 5; Stay the Course and Stay Engaged in the Process; 4. The Negotiation Process: Doing the Deal; Starting the Negotiation; What Is Negotiation?; Core Concepts: The Key to Success in a Negotiation; 1. Best Alternative; 2. Areas of Possible Agreement; 3. Trading Value; 4. Reservation Price.A Simple Example of NegotiationAvoid Common Negotiation Mistakes; Failure to Prepare Properly; Failure to Apply the Win-Win Approach; Failure to Remain Calm; Failure to Listen; How to Go About a Negotiation; Choose the Right Time; Anticipate Counter-Arguments; Be Specific About Your Needs and Wants; Be Tactful and Listen Carefully; Show Willingness to Accept a Solution; How Strong Is Your Case?; Best Alternative; Areas of Possible Agreement; Trading Value; Reservation Price; Calculate Your Lifetime Earnings.Part II: The Mortgage Arrears Resolution Process (MARP): Your Lender's Short-Term Solutions to Mortgage Arrears5. An Introduction to MARP; Definitions and Meanings; The Objective Is to Keep You in Your Home if Possible; Engagement; It Is a Process; There Is No Eleventh Hour; The Code of Conduct on Mortgage Arrears; Purpose of the Code; The Code Only Applies to Your Primary Residence; Engagement and Co-Operation Are Vital; Full Disclosure and Adherence to Agreements; The Borrower Is Not Just You; 6. Communicating with Your Lender; Starting the Journey.Step 1: Communication
Getting the Right StartStep 2: Financial Information; Accurate Financial Information Is Key; The Standard Financial Statement Is Your Friend; Getting Your Desired Result Is Not Automatic; The Standard Financial Statement; Section A; Section B; Section C; Section D; Section E; Section F; True and Correct Statement; 7. Assessing Your Financial Position; Motivation; What Is Your Goal?; Debt Forgiveness; Maintaining an Acceptable Lifestyle; Reducing Financial Risk for Your Dependants; Do Not Forget About Retirement; Remember to Calculate Your Lifetime Earnings.
