THE rise in the number of people behind in their mortgage payments is worrying. According to the latest Central Bank figures, nearly 50,000 homeowners are 90 days in arrears, amounting to debts of €9.6 billion.
It is vital that consumers struggling to meet mortgage payments contact their lenders in order to gain the protection of the revised code on arrears. Given the dire nature of this scenario, the Government must move swiftly to introduce more effective measures aimed at supporting those unable to keep up with payments.
If the banks can be bailed out, then surely more positive action could be taken to aid home owners struggling to make ends meet.
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