Tuesday July 7, 2020

Mortgage debts loom over banks and homeowners

Home loan repayment arrears are piling up with lenders, and they will get worse

29th May, 2010

‘Cleansing and repairing the banks’ balance sheets is considered fundamental to achieving a sustained recovery of the banking system,” finance minister Brian Lenihan told the Dáil in April 2009 as he announced plans to set up the National Asset Management Agency (Nama).

Despite committing himself to spending up to €50 billion to acquire toxic land and development loans from Nama participants, however, cleansed and repaired bank balance sheets continue to elude...

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