Irish Examiner view: Heartless investment funds going too far

How dysfunctional is a market when even those advising people in mortgage difficulties are leaving their jobs?

The role of banks in selling mortgages to investment funds merits closer examination. Picture: PA

Occasionally, the news headlines introduce a story so egregious that a few words of description become immediately synonymous with an entire set of circumstances. The €11,000 mortgage story earlier this week is a case in point.

The story detailed a homeowner having a repossession order granted against them in favour of an investment fund, despite having just €11,000 left on the mortgage. Another mortgage holder was left in a similar situation with just €6,000 left to pay.