Crisis of mortgage arrears has wider impact
The Government's Personal Insolvency Bill, while providing some positives, favours the rights of creditors, banks and lending institutions. By Patrick Nulty, TD.
At the end of June this year there were a staggering 83,251 homes with mortgage arrears of more than 90 days. This represents 10.9% of all homes with mortgages. Of these 65,698 homes were in arrears of more than 180 days. This is the equivalent of 8.6% of the total stock.