Troubled mortgage holders to unite in mass movement

GRASSROOTS groups of mortgage holders are to come together as one national mass movement over the coming weeks in order to force action on mortgage distress, insolvency law reform and repossession.

The initiative, led by the New Beginning organisation, aims to sign up tens of thousands of struggling, defaulting and other concerned homeowners at a series of regional meetings to create a formal membership and campaign structure.

Up to now New Beginning — a group of concerned lawyers and other professionals — has been highlighting the issue of mortgage distress on a case-by-case basis as they arise in the courts.