{"id":750,"date":"2013-06-24T09:41:02","date_gmt":"2013-06-24T09:41:02","guid":{"rendered":"http:\/\/seancrowe.ie\/home\/?p=750"},"modified":"2013-10-29T07:31:30","modified_gmt":"2013-10-29T07:31:30","slug":"government-siding-with-banks-against-distressed-borrowers","status":"publish","type":"post","link":"https:\/\/seancrowe.ie\/home\/government-siding-with-banks-against-distressed-borrowers\/","title":{"rendered":"Government Siding With Banks Against Distressed Borrowers"},"content":{"rendered":"

Government\u00a0Siding With\u00a0Banks\u00a0Against Distressed\u00a0Borrowers<\/h2>\n
Dublin South West representative Se\u00e1n Crowe TD has said that the \u00a0government\u00a0 is taking the side of the Banks against distressed borrowers who are\u00a0 struggling to pay their mortgage. The Tallaght based TD said his office was inundated with inquiries from constituents who are finding it\u00a0impossible to make ends meet and pay their mortgage on their home. Figures released\u00a0this week\u00a0show that almost one in four mortgages are now\u00a0in distress.<\/p>\n

Deputy Se\u00e1n Crowe \u00a0said;<\/p>\n

“Figures released\u00a0this show that a whopping\u00a0 one in four mortgages are now\u00a0in distress.<\/p><\/div>\n

<\/div>\n
“This reflects what I am coming across in my office and constituency work as a TD.<\/div>\n
<\/div>\n
“Distressed morgage holders are desperately looking for answers and advice on how to hold onto their homes and find a pathway out of this crisis.<\/div>\n
<\/div>\n
“Behind these figures are\u00a0individuals and families who worked \u00a0hard\u00a0 throughout their working lives\u00a0to save for a roof over their heads so\u00a0that\u00a0some time in the far distant future,\u00a0they could call\u00a0it\u00a0their own.<\/div>\n
<\/div>\n
“Borrowers were\u00a0encouraged and cajoled by the banks and government politicians\u00a0to take bigger and ‘better’ loans.<\/p>\n

“Their hard earned\u00a0taxes\u00a0then funded the bailing out of these same banks when the collapse came.<\/p><\/div>\n

<\/div>\n
“Many of these\u00a0distressed borrowers\u00a0lost their jobs as a result of the financial crisis created and contributed\u00a0by the reckless lending\u00a0policies of these same\u00a0banks.<\/div>\n
<\/div>\n
“Tens of thousands of them are now in hock to the banks and the government \u00a0is now,\u00a0also\u00a0now ganging up on\u00a0them.<\/div>\n
<\/div>\n
“This isn’t fair or morally right.<\/p>\n

“The Land and Conveyancing Bill, currently making its way through the D\u00e1il, will make it far\u00a0easier for the banks to repossess peoples\u00a0homes.\u00a0 The Central Bank\u00a0are also planning\u00a0next week to introduce changes to the Code of Conduct on Mortgage Arrears.<\/p><\/div>\n

<\/div>\n
\u00a0“In my opinion this\u00a0will undermine and weaken the hands of struggling homeowners in\u00a0dealing with the banks.<\/p>\n

“The government\u00a0has to\u00a0start standing up for the citizens\u00a0caught up\u00a0in this crisis, particularly\u00a0the\u00a0 tens of thousands of struggling mortgage holders who are at risk of losing their homes.<\/p>\n

“We need to see sustainable solutions including debt write downs where necessary with an independent mortgage resolution board to impose these solutions on the banks when needed.<\/p>\n

“Ultimately the government needs to stop siding with the banks and the Troika on this issue and start coming up with workable solutions\u00a0for struggling mortgage holders to enable them to hold onto\u00a0their homes.”<\/p><\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Government\u00a0Siding With\u00a0Banks\u00a0Against Distressed\u00a0Borrowers Dublin South West representative Se\u00e1n Crowe TD has said that the \u00a0government\u00a0 is taking the side of the Banks against distressed borrowers who are\u00a0 struggling to pay their mortgage. The Tallaght based TD said his office was inundated with inquiries from constituents who are finding it\u00a0impossible to make ends meet and pay […]<\/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-750","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/comments?post=750"}],"version-history":[{"count":3,"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/750\/revisions"}],"predecessor-version":[{"id":752,"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/posts\/750\/revisions\/752"}],"wp:attachment":[{"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/media?parent=750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/categories?post=750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seancrowe.ie\/home\/wp-json\/wp\/v2\/tags?post=750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}