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Saturday 17 February 2018

Lobbyists say they got home loan debts cut

New Beginning – which represents struggling mortgage holders – has revealed it has secured debt reductions this week.

Vincent P Martin for the group said banks were anxious to do deals because of the personal insolvency rules coming in.

He would not say how many deals had been done this week with banks, but he said in some cases homes were voluntarily surrendered with the balance written off, and in others the mortgage was reduced with the families staying in the home.

Irish Independent

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