Moving to clarity on debt forgiveness

The government has left the contentious issue of mortgage debt restructuring to the banks – but oversight is badly needed

3rd September, 2011

The government has left the contentious issue of mortgage debt restructuring to the banks – but oversight is badly needed

Some clarity is finally beginning to emerge in the debate about mortgage debt forgiveness. The clarity is that there won’t be any. There will be no debt forgiveness scheme for those in negative equity.

There will be no national scheme for those in arrears. The picture that is emerging, is one of a...

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