13/07/10

Green Party Dublin West representative, Roderic O’Gorman has welcomed the report by the Mortgage Arrears and Personal Debt Expert Group and has called for swift action in implementing its recommendations.

“I am delighted that the Mortgage Arrears and Personal Debt Expert Group has already published its first interim report, having only been set up in February of this year. This expert group arose out of a commitment the Green Party had inserted in the new Programme for Government to look at mechanisms to avoid foreclosures on peoples homes”, stated Roderic O’Gorman.

“This document makes a number of interim recommendations, such as the creation of a Mortgage Arrears Resolution Process and the idea that those entering such a process should not face any further interest penalties or charges for falling into arrears. The expert group is also proposing a broadening of Mortgage Interest Supplement and an extension of the current Code of Conduct on Mortgage Arrears, designed to give protection to those who cannot make repayments”.

“A substantial number of people are facing problems paying their mortgages because of job losses, wage cuts or interest rate increases. The measures being proposed by the expert group are part of a range that the Green Party are having implemented in Government to ensure that peoples homes are protected”, concluded Roderic O’Gorman.

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