debt forgiveness Archives - MyHome.ie Advice & Blog

AIB debt writedowns: good idea or bad idea

There was possible good news for those struggling with their mortgages this week when AIB chief executive David Duffy said that the lender would write off unustainable debt for certain borrowers. Mr Duffy said the bank would look at the “principle of affordability” of borrowers'…

Taoiseach calls on banks to engage with those in mortgage arrears

General, Home, Mortgages & Money, Property News

The Taoiseach Enda Kenny has told banks to "get up and do it now" and engage with mortgage holders in distress. It comes after the Central Bank's Fiona Muldoon, claimed financial institutions were behaving like teenagers in dealing with the arrears crisis. Mr Kenny has…

Permanent TSB chief warns about mortgage debt relief

Mortgages & Money, Property News

Permanent TSB chief executive Jeremy Masding said Irish banks would need more capital should they become overly lax on mortgage debt forgiveness and variable-loan interest rates fall below those assumed in stress tests. Exceptional or unusual rules in relation to debt forgiveness "would have a…

Moody's expect debt forgiveness for unsustainable mortgages

Home, Mortgages & Money, Property News

International ratings agency Moody’s expects debt forgiveness to become the normal way to deal with unsustainable mortgage debt in Ireland. In a note issued yesterday, Moody’s said that once all other avenues were exhausted lenders would be left with little choice but to offer debt…

Thousands struggling to pay mortgages could have repayments cut under new plan

Mortgages & Money, Property News

Thousands of people struggling to pay their mortgages could see their monthly repayments fall by up to a third if proposals from international financial services group IFG are accepted by the banks and the financial regulator. That’s according to a report in last weekend’s Sunday…

Up to a quarter of those in mortgage arrears may be doing so "strategically", claims Deeter

Mortgages & Money, Property News

Karl Deeter of Irish Mortgage Brokers has expressed his view that up to a quarter of mortgage holders in arrears may be deliberately delaying payments in order to try and earn some kind of debt forgiveness from their lenders. Mr Deeter, who is also a…

Quarter of all Irish mortgage debt susceptible to write-down

Mortgages & Money, Property News

A quarter of all Irish mortgage debt is susceptible to a write-down under proposals contained in the Personal Insolvency bill, it was claimed today. Ratings agency Moody's has rated the Government-proposed mortgage arrears Bill as credit negative for banks because many mortgage loans will be…

Debt relief

Property News

[poll id="13"] [poll id="14"] [poll id="15"] [poll id="16"] One of the most popular (by comments) blogs we ever had on the site was about debt forgiveness and whether it was a good or bad idea. In yesterday's Independentthere was an article about the upcoming debt…

'Ming' Flanagan calls for mortgage debt forgiveness

Mortgages & Money

OUTSPOKEN TD Deputy Luke ‘Ming’ Flanagan has accused Minister of Finance Michael Noonan of being ‘cruel’ in his handling of the country’s mortgage crisis. Speaking in the Dáil on Wednesday on a report by the Interdepartmental Group on Mortgage Arrears, the Leitrim/Roscommon TD said the…