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re: Settin record straight on mortgage arrears

Posted by jj on June 02, 2011 at 07:47:50:

In Reply to: re: Settin record straight on mortgage arrears posted by Troy McClure on June 01, 2011 at 13:29:01:

Given the time of the writing of that article some of the figures have got worse - I have posted here the Central Bank updated numbers.

However there is some inaccuracies in the article:

782k mortgages in the state, value 116bn of which:
50k are in arrears (value 10bn of mortgages, and arrears of c800m)
Of the 50k, 26k (totalling 5bn of mortgages with 170m of arrears) have restructured but are not even making their restructured payments.

A further 36k restructured their mortgages totalling 6bn of mortgages to at least 66% of interest but not specific to what).

The article talks about negative equity which is a real issue (and which the article I posted originally talks/suggests some debt forgiveness after sale of property after repayments for a further 5 years. So if that is why you posted the Irish Times article you are supporting the argument (partly).

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