Homeowners experiencing mortgage difficulties and who do not engage with their banks, now face legal proceedings.

WHILE undoubtedly very important, it may not be quite correct to say that “mortgage arrears is the single biggest issue currently facing Irish people”, as Taoiseach Enda Kenny said last Tuesday in the Dáil.

Debt-ridden homeowners may only secure a year-long delay on repossession if they co-operate reasonably and honestly with their banks, it was warned today.

Tanáiste Mary Coughlan says she is concerned for the jobs at Quinn Insurance.