FLAC seeks input on mortgage arrears policy

HOMEOWNERS who have fallen behind with their mortgage payments are being urged to contribute to the Financial Regulator’s ongoing efforts to re-draft policy in this area.

Free Legal Aid Centre (FLAC) director general Noeline Blackwell said the public is being given a “rare chance to contribute its views on how these arrears are handled in future”.

“Every day through its telephone information line and advice centres, FLAC hears of the distress and despair felt by people in difficulty with mortgage arrears as well as other forms of debt. FLAC is seeking a holistic approach to debt which will take into account the totality of a person’s debt situation,” said Ms Blackwell.