Saturday June 6, 2020

Divorce and job loss make a restructured loan less likely

Findings contained in Central Bank research paper

17th July, 2016
Being divorced or unemployed can make it quite hard to restructure any loans you may have Pic: Shutterstock

Being divorced or unemployed reduces a struggling mortgage borrower’s chances of being offered a long-term restructuring arrangement by their lender, according to a new Central Bank report.

A technical research paper on mortgage modifications and loan performance published by Central Bank experts last week has shed some light on how successful lenders have been at modifying the loans of struggling debtors.

The paper’s authors noted that the mortgage arrears crisis had “sparked significant...

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