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re: Settin record straight on mortgage arrears

Posted by jj on June 01, 2011 at 13:58:49:

In Reply to: re: Settin record straight on mortgage arrears posted by Troy McClure on June 01, 2011 at 11:55:58:

Please tell me where you are basing this on 2008 figures?

Most of the figures in the article about arrears relate to the Central Bank Report based on March 31st 2011 numbers. The courts are slow in Ireland but not sure they are that slow (but open to correction).

Court proceedings have been issued in the first quarter for 2011 - 175
Concluded in Q1 - 231, of which vast majority ended up with the property possessed by the lender (via abandonment or court order or other means).

However, I note 6,658 have formal demands on the property at the end of Q1, but only 2,984 where court proceedings have been issued.

I attach the Central bank statement - not the easiest to make sense of.

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