A fair deal for debt forgiveness

I WOULD like to offer an idea in regard to the debt forgiveness.

In the past. anyone in Ireland could apply to the HSE for rent allowance or to a local authority for housing and they only had to pay a small amount for their accommodation. Over the last few years it has gotten harder and harder to keep up with mortgage repayments due to loss of work, pay cuts and everything else that has happened in this country.

I do not have any economics experience, but I can see clearly that this crisis has come to a serious head, people are more in debt, just to keep a roof over their heads.

People are hungry and lacking in all kinds of basic necessities.

The banks do not seem to have any handle on any of this — neither does the Government.

I know that local authorities have certain budgets to buy houses, and that the budget changes in different parts of the country (ie, I think the top price that they can pay for a house in Limerick is €225,000 euro, and that is higher in Dublin and less in other areas). Rent is paid back to the local government at a very low rate.

Could the banks or the Government not use the same criteria?

They should look at all mortgage holders in a family home, and write off €225,000 worth of the mortgage, depending on the local criteria.

If all local governments and the HSE have housed people for years and we, the mortgage holders had to put up with it, could this criteria not be used for the struggling citizens of Ireland?

It would mean that people will not suffer the indignity and fear that goes with all the pressure of losing their homes.

It would mean that local authorities would not have to rehouse these people.

The banks are not going to get their money anyway because people just don’t have it.

It would be an equitable solution in that every family residence that has a mortgage would be cleared.

As it stands we are paying for bankers, so why not look after our own now?

It would also be good for the economy in that we may be able to actually start buying again. I have no idea how much this would cost, but I think it could be done.

It’s fair. It’s a way out for everyone.

It does sound naive but it also makes a whole lot more sense than listening to folk living in cars and working away from their homes and families because of lack of accommodation.

Íde Ní Bheachain

Limerick