Coalition once again sides with the banks

It would appear the banks and politicians have finally faced up to the fact that the mortgage crisis must be addressed.

Those who were unable to pay or were having severe difficulties in paying their mortgage have realised for the last several years that a major problem existed. However, what the banks are looking for and what the mortgagees want to see come from the resolution process are very different.

Mortgagees want recognition of their dramatically changed circumstances, an understanding of the difficulty they have in repaying the loan and to find a solution that allows them to get on with their lives while repaying what they can.