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115 homeowners falling into mortgage distress every single day – Doherty

13 December, 2012 - by Pearse Doherty TD

Speaking after the publication of the latest residential mortgage arrears figures by the Central Bank Sinn Féin finance spokesperson Pearse Doherty has described the figures “shocking” and “alarming”
Deputy Doherty said:

“179,370 mortgage holders are in distress according to the Central Bank. 115 homeowners fell into distress every single day from the start of July to the end of September.

“Almost one in four mortgage holders are in distress. This is both shocking and alarming.

“Unfortunately it is not surprising. Like Fianna Fáil the Government has taken no action to assist struggling mortgage holders. The Keane report recommendations have yet to be implemented. The Personal Insolvency Bill offers little hope to those in distress.

“To make matters worse this week the Government has introduced a budget that will push tens of thousands of struggling families deeper into financial stress and poverty.

“With one on four mortgage holders in distress how does the Government expect these people to pay the Family Home Tax? How does the government expect people to

cope when the cuts to child benefit kick in?

“Given the impact this budget will have on the income of hard pressed families there can be little doubt that the number of mortgage holders in distress will continue to rise in 2013.”

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