Dublin South West TD Se\u00e1n Crowe has described new mortgage figures from the Department of Finance as \u2018frightening\u2019. The latest figures show that 82% of struggling homeowners who are in arrears of over 90 days are still not in any viable agreement with their lending institution.<\/p>\n
Deputy Se\u00e1n Crowe said:<\/p>\n
\u201cThese latest Department of Finance figures show that even at this late stage, there is still a need for an independent structure to step in and make reasonable deals that both the banks and their struggling customers can live with.<\/p>\n
\u201cThese figures clearly show that banking institutions, bailed out by taxpayers, are not being realistic about providing long term sustainable solutions.<\/p>\n
\u201cThe agonizingly slow pace dictated by the banks has resulted in them trying to squeeze blood from a stone and from a government unwilling, for whatever reason, to stand up to them.<\/p>\n
\u201cIt is almost a year since the Central Bank announced a set of targets for the banks to reach.<\/p>\n
“Their immediate response involved the ramping up and issuing of threatening legal letters to borrowers.<\/p>\n
“Although there is a glimmer of good news suggesting a reduction of numbers in arrears, six years on from an Irish banking crisis, a 1% reduction each month for those not in a viable agreement is unacceptable and far too slow.<\/p>\n
\u201cSurely these frightening figures, highlighting a whopping 82% of those with mortgages in arrears of over 90 days, who are not in a permanent restructuring agreement, indicates that the banks are dealing with the mortgage crisis on their own terms.<\/p>\n
“The scandal is that the government is letting them.<\/p>\n
“In my opinion Irish taxpayers have little or no stomach for an economic policy that allows the banks to drag out this crisis until the next decade or further.<\/p>\n
“The government has talked tough but the banks have called their bluff and struggling homeowners are continuing to suffer as a result.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Dublin South West TD Se\u00e1n Crowe has described new mortgage figures from the Department of Finance as \u2018frightening\u2019. The latest figures show that 82% of struggling homeowners who are in arrears of over 90 days are still not in any viable agreement with their lending institution. Deputy Se\u00e1n Crowe said: \u201cThese latest Department of Finance […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1599","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/1599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/comments?post=1599"}],"version-history":[{"count":1,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/1599\/revisions"}],"predecessor-version":[{"id":1600,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/1599\/revisions\/1600"}],"wp:attachment":[{"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/media?parent=1599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/categories?post=1599"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/tags?post=1599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}