Tag Archives: Repossessions

Edmund Honohan

RTE reports:

Master of the High Court Edmund Honohan has described as “a sick joke” a letter sent from Taoiseach Leo Varadkar to a man seeking to avoid repossession of his home to contact mortgage arrears adviser Abhaile.

Mr Honohan said he has people in his court, on a daily basis, who are struggling to hold off repossession, and he had asked them to contact the Taoiseach to see where they could find mortgage-to-rent as a solution.

Mr Honohan said Abhaile is of no use to these people because it is “merely a voucher for €250 worth of legal advice” before you go to the Circuit Court.

Speaking on RTÉ’s Morning Ireland, he asked why the Taoiseach’s office is so misinformed that it is unable to formulate a reasonable policy to cope with the wave of repossessions that is about to break.

…Mr Honohan has written a new bill that would give greater powers to the State’s financial and legal support services and stronger protections to people who are in mortgage arrears.

However, he said no political party had indicated support for his bill and that this “is a cross party effort”.

He said he was “using the good offices of John McGuinness (Fianna Fail TD) to lodge it”.

Taoiseach’s letter to homeowner described as ‘sick joke’ by Master of High Court (RTE)

UPDATE:

Taoiseach Leo Varadkar in Dail earlier today

Earlier today.

Labour TD Jan O’Sullivan raised Mr Honohan’s interview with Morning Ireland – and his bill in the Dail – prompting Taoiseach Leo Varadkar to say…

I haven’t seen that legislation Ceann Comhairle. I don’t think anyone has yet, actually. Certainly, I’m not aware of it being published but, certainly, when it is published, we’ll give it full consideration.

“As we will with any legislation that’s put forward in good faith to see, first of all, is it constitutional, secondly, would it be effective and third, would there be any adverse unintended consequences.

“But certainly, once the legislation is available, the Government will examine it.”

phoenix

Settle down now.

Claire (not her real name) discusses how the Phoenix Project helped save her (and her dog’s) home.

Richard Brophy writes;

I am working on behalf of the Phoenix Project, a charity that helps people in debt deal with banks and avoid repossession of their homes.They are an independent charity and are not funded or linked to banks or other financial institutions.

The Phoenix Project provides all of its services for free. It does not receive State funding and relies on private, charitable donations.

According to official Central Bank statistics, there could be up to 49,000 home repossessions in the coming years

Broadsheet readers can make a €4 euro donation by texting ‘Savehomes’ to 50300 or by logging onto our site (link below). Thank you

Phoenix Project

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Page 7 of the Central Bank of Ireland’s Residential Mortgage Arrears and Repossessions Statistics: Q4 2014 report, out today

A new report from the Central Bank, detailing figures in relation to Ireland’s residential mortgage arrears and repossessions for the last three months of 2014 is out.

It states the number of overall number of mortgage arrears cases fell by 7,523 over the period, while the number of mortgage arrears cases involving people who’ve been in arrears for over 720 days has risen by 294.

In relation to legal proceedings and repossessions, the Central Bank reports:

“During the fourth quarter of 2014, legal proceedings were issued to enforce the debt/security on a PDH [Private Dwelling House] mortgage in 2,543 cases. Court proceedings concluded in 721 cases during the quarter, and in 314 of these cases the Courts granted an order for repossession or sale of the property.”

“There were 1,393 properties in the banks’ possession at the beginning of the quarter. A total of 429 properties were taken into possession by lenders during the quarter, of which 123 were repossessed on foot of a Court Order, while the remaining 306 were voluntarily surrendered or abandoned. During the quarter 222 properties were disposed of.”

“The number of properties in possession at the end of the quarter was also impacted by reclassification issues affecting 12 PDH accounts. These issues mainly reflect the reclassification of PDH accounts as BTL [Buy To Let] accounts. As a result, lenders were in possession of 1,588 PDH properties at end-December 2014.”

Huh?

Right so.

Residential Mortgage Arrears and Repossessions Statistics: Q4 2014 (Central Bank)

Previously: Meanwhile, In Limerick