Mortgage Rescue Scheme urgently required
Fra Mc Cann is calling on Margaret Ritchie to implement a mortgage rescue scheme immediately to help those who are in danger of having their homes repossessed.
Mr McCann said,
"Recent statistics issued by the court service show a huge rise in home repossessions due to mortgage default. This flags up the absolute imperative that there is no further delay in the implementation of a mortgage relief scheme in the north of Ireland.
"Sinn Féin is on record in saying that leadership is required in putting together a 'not for profit' scheme drawing from the examples of initiatives already in existence elsewhere.
"This scheme must have sufficient resources to recruit additional advice staff to deal with the huge influx of people seeking assistance at a time of great financial worry.
"The minister must act sooner rather than later to ensure that we minimize the impact of the credit crunch where possible." CRÍOCH