Vulture funds have green light to ‘solve’ the mortgage crisis

Vulture funds have green light to ‘solve’ the mortgage crisis
Brian Reilly, co-founder, Right2Homes

Repossession and personal insolvency seem to be the government’s preferred option, writes Brian Reilly

Whether you are a “performing” borrower or a “non-performing” borrower and in arrears, the sale of your loan and mortgage to a vulture fund represents an alarming development. Even though it is stated government policy to “keep families in their homes” the self-same government’s actions are of little effect.

The bank or building society which gave you the loan in the first place had the right to demand repossession once you fell into arrears...

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