One way the ‘little people’ can get their own back

IN RESPONSE to Patrick Dolan’s letter (May 20) concerning options for the “little people” in the current financial crisis, we have in fact one powerful weapon at our disposal.

It simply requires all of us with mortgages, especially those in negative equity, to contact our lenders and inform them that due to the current economic climate, we have been forced, hopefully temporarily, to review our loans and our current ability to pay them.

As a result, we must inform them that, regretfully, our future monthly repayments will have to be in line with the current value of our homes. This approach is quite legal, necessary and morally appropriate in the present circumstances.