Credit: Irish Examiner
There is a call on the Government to help prevent families from being evicted over mortgage arrears in the wake of the coronavirus lockdown.
The Irish Mortgage Holders Organisation wants the Mortgage to Rent Scheme extended to allow those in debt to stay on as paying tenants in their own home.
Up to 18,000 families are in danger of repossessions around the country and over two-thirds of those in long-term arrears will end up losing their home.
Irish Mortgage Holders Organisation CEO David Hall says a number of protections are needed for homeowners during the pandemic.
“People have, through no fault of their own, lost their employment, are unable to pay their mortgage and therefore facing into a hugely uncertain future,” he said.
“There needs to be a coherent approach to an insolvency arrangement to allow people restructure the loans (as) appropriate, pause their mortgages (and) extend their mortgages,” Mr Hall added.
