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re: Settin record straight on mortgage arrears


Posted by Troy McClure on June 05, 2011 at 13:05:19:

In Reply to: Settin record straight on mortgage arrears posted by jj on May 31, 2011 at 13:16:32:

JJ,

See today's Sunday Business Post. The lead article, by Jon Ihle, in the Monday and Markets section reads: Long term mortgages arrears expose 25,000 to repossession.

The first paragraph:

An estimated 25,000 mortgage borrowers are so far in arrears they have fallen outside the protection of the Central Bank's moratorium on repossessions and risk losing their homes if their lenders choose to foreclose.

The rest of the article lays out the true stark reality of the crisis.

I cannot understand how you are downplaying this issue in the context of the emerging economic outlook in terms of wages, interest rates emigration, lack of consumer confidence, massive unemployment and increases in stealth taxes.

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