Sunday February 23, 2020

Mortgage relief all round?

Banks are being asked to do their bit to resolve the mortgage debt crisis by restructuring the loans, write Jon Ihle and Emma Kennedy.

23rd June, 2012
Finance minister Michael Noonan and justice minister Alan Shatter are due to present the Personal Insolvency Bill this week. Photo: Tony O'Shea

The new personal insolvency regime is not expected to be fully operational until next year. In the meantime, banks are being asked to do their bit to resolve the mortgage debt crisis - by restructuring the loans, write Jon Ihle and Emma Kennedy.

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Tens of thousands of borrowers that have fallen behind on their mortgage payments will have to rely on bank forbearance or loan modifications for another year as the government and financial system...

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