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.
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.