I will be urging support for the bill being proposed by Deputy Willie Penrose on the insolvency problem. It will put pressure on the banks to sort out mortgage and other debt problems in a more sympathetic way.
“At the moment the banks are using a veto which, in a lot of cases, is very unfair. With the alarming news this week that up to 7,000 homes could be repossessed over the next few months, it is imperative that a solution to this crisis is found. One solution might be 50 or even 100 year mortgages similar to a system that is in operation in Austria. The most important thing is that the family home must be protected. The people of Ireland bailed out the banks and mow it is time for the banks to show some sympathy for the people who are in distress at the moment”
“I also want to reiterate my comments that people who are in mortgage or debt difficulty should ensure that they seek help. There is plenty of assistance for people who are in difficulty and one should not have to face these problems on their own. There is good advice to be had in this situation for people who are affected”