Struggling homeowners ‘abandoned’ by Government

FAMILIES unable to keep up their mortgage payments have been abandoned by the Government because the Finance Minister is in “denial”, Labour warned last night.

The attack came after Brian Lenihan said next month’s budget would not bring in legal protection for homeowners struggling with arrears as the recession deepens.

The Finance Minister dismissed opposition claims an “avalanche” of repossessions was looming as 35,000 fall behind with monthly payments, and warned the banking system would be put at risk by stronger Government intervention.