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EARLIER TODAY THE Central Bank revealed that 97,874 mortgage holders are in arrears over 90 days.
Included in the statistics are these two charts that show how the problem has grown since September 2009.
Four years ago, just 3.3 per cent of mortgages were in arrears over 90 days. Today, that figure stands at 12.7 per cent. No single quarter has seen a fall since September 2009.
Can’t read the chart? Click here.
Also included in the report is a chart that shows how banks are moving to restructure the mortgages.
There were over 79,000 mortgages classified as restructured up to the end of June.
Many of the restructures are not long term solutions, with just 306 split mortgages and just 254 had been given a permanent interest reduction.
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Well done and congratulations, the Irish will rise out of the ashes and we will be stronger than ever.
Brilliant. When I started a business last year, I used a similar approach but alot smaller and more informal, to what fbally offered. I probably learnt more, and bought more useful strategies in to play, over cups of coffee, with other start ups than I would have had in 12 months of working at home on my own.
Excellent! Life-affirming and inspiring!
George,
That’s great! I believe in you and in Ireland.
It’s a pity I’m not there with you, but one day I’ll come back… I mean it:)
Fair play, great to see ideas like this springing up!
Excellent concept. Best of luck!
Great article and very good news. Very best wishes with the official launch. Fantastic initiative, well done.
I’m a bit late coming to this article but wow, what a way to start the day. What an inspiration for any small business entrepreneur.
George is an absolute gem as a person, my former landlady and as an entrepreneur and wearer of very cool hats. My total respect. We all need to be more like here, when life gives you lemons grab salt n tequila
You’re an inspiration, not just for Fumbally but for the country. Eamon Gilmore could learn a lot from reading your story.
Well done George, my other half is an engineer, another profession decimated by the recession!
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