Wednesday 7 December 2016

Plan won't cure mortgage woes

Published 11/10/2011 | 05:00

The latest proposals for dealing with mortgage arrears, which will be discussed by the Cabinet today, only tinker with the problem.

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With almost 56,000 mortgages now at least 90 days in arrears it is now clear that they represent a huge problem, with tens of thousands at risk of losing their homes.

The sums involved are enormous. There were about 777,000 home loans outstanding at the end of June, with a gross value of €115bn.

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