- Jan 22, 2011
at the slightly later time of 23:10
Louise Bayliss, SPARK campaign member https://twitter.com/Louiseinflight
Brendan Burgess, Economist Brendan Burgess: It's time we faced up to terrible reality of home repossessions - Independent.ie Quotes from the Irish Property Bubble: Brendan Burgess, Founder, Ask About Money (askaboutmoney.com)
Michael McGrath, FF TD Cork SouthCentral Welcome to my Website | Michael McGrath TD, Working for you in Cork South Central
Dara Murphy, FG TD Cork North-Central Dara Murphy - Wikipedia, the free encyclopedia
Fianna Fáil yesterday afternoon launched the Mortgage Resolution Bill 2013 which if made law would change the current rules that require a majority of creditors to approve a persons entry to the new system.
Opposition parties previously complained the rules mean that those burdened with high mortgage debts are effectively barred from entering the insolvency process if their bank objects.
The Bill also creates a new Mortgage Resolution Office with the power to:
* issue binding orders to lower interest rates;
* extend the repayment period by up to 20 years;
* enforce a repayment holiday;
* defer part of the loan for up to 10 years,
* lease a home back to its occupiers at market rates.
Other orders could be issued to:One of the biggest barriers to growth and recovery in Ireland is the number of families and communities struggling under the weight of unsustainable mortgage debt, said FFs finance spokesman Michael McGrath. Legislators have a responsibility to come forward with a response to this crisis which does not put the banks in control.
* demand interest-only repayments for up to four years;
* swap part of the debt for a stake in the house;
* participate in a deferred interest scheme.
The Bill is likely to be rejected by the government.
Good discussion is on the cards for tonight. And keep your cool while BB tells us whats wrong with us and how it should be done in future
FFs Mortgage Resolution Bill Will Put Citizens Back in the Driving Seat | Fianna Fáil
Fianna Fáil proposes new mortgage resolution process - Political News | Irish & International Politics | The Irish Times - Mon, Mar 25, 2013
FF publishes bill to remove bank veto from insolvency regime
Previous #VINB: http://www.politics.ie/forum/backstage/208342-vinb-mon-25-3-2013-cyprus-problem-solved.html