Debt Forgiveness

Catch up “The Morning Show” from TV3 where Sybil Mulcahy and Martin King talked to Angela Keegan, Managing Director of and Karl Deeter of Irish Mortgage Brokers about the issue of Debt forgiveness.

Mathew Elderfield, Head of Financial Regulation at the Central Bank of Ireland recently suggested that some sort of debt forgiveness will need to be introduced here. Figures released in May by the Central Bank showed that a total of 86,271 borrowers are currently struggling to pay their mortgage – these mortgages total €9.6 billion, with €827 million in arrears. While NAMA currently exist for developers and provides debt forgiveness and debt structuring nothing is place to help the thousands of householders with amounting arrears and who currently cannot get back on their feet.

Catch up the Property Watch Team on “The Morning Show” to find out more.

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