Crisis as families battle to keep homes

STRUGGLING home-owners facing repossession are carrying arrears amounting to an eighth or more of their original mortgage loan, according to a snapshot survey of borrowers before the courts.

The analysis of repossession cases also found that nearly three-quarters of cases entering the courts were mortgage-holders who had borrowed late in the housing boom.

The survey of over 500 repossession cases coming before the Master of the High Court in one month this year was carried out by economic think-tank, the ESRI. Family homes account for eight out of every 10 repossessions being sought by lenders