Cllr Joe Leahy has welcomed the Government’s recently announced strategy for assisting those in mortgage arrears.
There is a large and growing number of families under severe stress because they are finding it impossible to keep up with their mortgage repayments. In response to the difficult situation, the Government has introduced measures to assist those in mortgage difficulty. These include measures for dealing with debt outside of formal judicial bankruptcy. The strategy also offer positive incentives for debtors to exit insolvency arrangements and pay a proportion of their future income to alleviate debts.
“It is obvious that there are no quick fixes or a ‘one-size-fits-all’ solution to this problem” said the Clonmel Borough Councillor. “Each family in mortgage arrears faces unique difficulties and we need a whole range of solutions that can be adapted to resolve each family’s difficulties. However, I am particularly pleased to see measures included in this initiative that will allow families to stay in the family home”.
Cllr Joe Leahy can be contacted on 086 2606988