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help mortgage holders in arrears.

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  • 16-08-2010 6:04pm
    #1
    [Deleted User]
    Posts: 0 ✭✭



    Monday August 16 2010

    letter found into today's Irish Independent

    I'D like to comment on the fact that the banks are being told to implement the extension of the moratorium on mortgage arrears (Irish Independent, August 14).

    I am livid that the media (and that includes you) haven't realised that this is obviously a smokescreen to deflect from the inability of the Government and financial institutions to come up with a realistic measure to help mortgage holders in arrears.

    We are being fed b_____t by giddy reports about how this measure is going to relieve those in deep trouble and in danger of losing their homes. The media should wake up and stop being complicit in this obvious spin.

    Francis Grimes

    Sixmilebridge, co Clare



    what do you think????


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    #2
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    There has been a code introduced between the banks and they have to explore all avenues with the customer. I dont agree with letter in full but there are some issues which are up to the lender.

    We cannot just regulate every little stipulation for everything in the banking sector as we need flexibility in there but there are codes and procedures introduced to advise best practise which the regulator would oversee.

    If the banks wishes to repossess they will need to wait a certain period of time as well as having discussed all options.

    The regulator was questioned on bringing in a forgiveness program whereby debt may be written off by the bank but he has concerns that customers struggling to meet payments may purposely fall into arrears to avail of this option which would casuse distrubtion in the market.


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