At last, a way out of mortgage mess
THE revelations that a family got a massive chunk of their mortgage debt written off by state-rescued AIB will infuriate and delight people in equal measure.
Many of those who are in their 30s and 40s who over-borrowed during the housing bubble, and are now in financial trouble, will be encouraged by the latest debt deal. These people will feel AIB is just facing up to reality here.
It was necessary to forgive €150,000 in mortgage debt for the Dublin family to stay in their home.