Yikes.
RTÉ News has seen details of radical new measures under consideration by Government to help tackle the housing debt crisis.
People facing repossession may be able to rent their homes from the State after they have lost ownership of the properties.
This could allow people stay in their homes after the houses or apartments were repossessed. As they would no longer own their home, they then would rent it – possibly from the State itself.
And this is the bit we don’t understand:
Consideration is also being given to measures to allow people who are already in negative equity to trade up if they can sustain a larger debt.
Anyone?
Homeowners In Arrears Might Rent From State (RTE)
(Sasko Lazarov/Photocall Ireland)
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