Helping struggling homeowners in mortgage debt is a top priority for Government – BREEN.

August 29th, 2011 - Pat Breen

Chairman of the Oireachtas Committee on Foreign Affairs and Clare T.D. Pat Breen said today (Monday) that helping struggling homeowners in mortgage debt is a top priority for Government.
“Minister Noonan’s comments over the past two days highlight the reality that Irish banks continue to ignore. Figures published by the Central Bank this week show that 7.2% of private residential mortgage holders are in arrears for more than 90 days. The figures also show that 69,837 residential mortgage holders have restructured their mortgages at the end of June 2011, and of these 39,395 are not in arrears and are managing their mortgage under the new arrangements.”

“The banks have been recapitalised to enable them to help mortgage holders who are struggling to make their monthly repayments and they have been rigorously stress tested. It is time that they recognised the pressure which homeowners are being put under by them to meet their mortgage repayments. Banks received considerable support from the Irish taxpayer, the mortgage holding taxpayer now needs to see the benefit of this support.”

“I welcome Minister Noonan’s comments and believe that it is time to turn political focus on the issue into positive action for the thousands of families in Ireland who are struggling to make ends meet. I am aware of several families here in Clare who are at the end of their tether trying to repay their mortgage, genuine people who are making a real effort and who are under severe pressure trying to retain their own homes.”

“An interdepartmental report is currently being prepared and as soon as that report is completed its recommendations will be place highat 69,837 residential mortgage holders have restructured their mortgages at the end of June 2011, and of these 39,395 are not in arrears and are managing their mortgage under the new arrangements.”

“The banks have been recapitalised to enable them to help mortgage holders who are struggling to make their monthly repayments and they have been rigorously stress tested. It is time that they recognised the pressure which ho