The Daily PollA REPORT ON the escalating problem of mortgage arrears in Ireland has ruled out the possibility of blanket debt forgiveness.
As increasing numbers of homeowners struggle to make their mortgage repayments, 32,000 households have been unable to pay their mortgage within the last six months, according to the report, which was published by the government yesterday.
Although it ruled out blanket debt forgiveness, the Keane report recommended a number of proposals to help homeowners cope with their debts, including a rental scheme involving the state taking ownership of mortgaged properties and renting them back to the residents.
The homeowners’ advocacy group New Beginning criticised the report as a “document designed to protect the banks” which fails to offer a solution to alleviate the pressure people are under.
What do you think: would you be willing to rent your home to reconcile your mortgage arrears?
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