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If banks get a break, so should householders - says Gilmore
Posted on October 14, 2009 at 02:23 PM
As tens of thousands of people face the prospect of having their homes repossessed by the same banks who will benefit from NAMA, the Labour Leader Eamon Gilmore TD has called on the Government to place a moratorium on home repossessions for a period of time.
Eamon cited the ESRI report which has estimated that by the end of 2010 35,000 people will not be able to repay their mortgage.
He said: "The people who are having difficulty today in repaying their mortgage are those who had good jobs a year or two ago, and certainly at the time they took out the mortgage. Hopefully, they will have good jobs again when we come through the economic difficulty.
"Just as the banks are looking for a break from the Government, householders also need a break."
As ever you can see Eamon's contribution on the accompanying video, while you can read the full Dáil transcript on the Oireachtas website and do let us know what you think in the comments section below.
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Comments
dear sir,I have contacted my lending institution with a view to increasing my paymentt to weekly or even fortnightly and have been informed that paying this way would make no difference as they would only process my payments against my mortgage on a monthly basis. this must surely border on the criminal side that a lending institution that I as a taxpayer have to bail out can then deny me the means to reduce the (a) term of my loan and(b) the amount of my loan which would help people escape negative equity and lessen the burden on people by several years. As a social step surely this facility to actually repay our debts to the banks at preferential rates and terms to borrowers should be part of any deal before we sell ourselves and our children to nama.
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