If in mortgage arrears, just stay calm: you can work this out

Comment: Talk of soaring mortgage rates and repossessions, as international funds buy up Irish debt, is mere hype.

Ciaran Phelan is chief executive of the Irish Brokers Association.

Arrears figures are up, they’re down, they’re overestimated, they’re underestimated – mortgage holders would be forgiven for feeling inundated by the industry facts and figures pumped out about the mortgage market – and in particular mortgage arrears.

It’s enough to make your head spin and the best advice to anyone struggling with mortgage debt is to pay little or no heed to this ‘macro’ stuff – no one group will be in the ...