Mortgage difficulties - An idea to consider

THOUSANDS of families are under tremendous pressure because they can no longer meet mortgage commitments entered before they lost jobs or endured substantial reductions in their incomes.

These families’ stories are the consequences of our economic collapse made real and any society in a position to do so should do all it can to help them.

Yesterday’s suggestion from the International Monetary Fund (IMF) that Irish banks could provide support to struggling homeowners is worth consideration.

There is an irrefutable logic to the argument that if state funding can be used to rescue banks on the verge of collapse because of their cavalier behaviour then the state should also support individuals who, through no fault of their own, are in this terrible bind.

If this can be done without imposing further taxation then it should be given every consideration.