Thursday, 25 August 2011

Government won't write off struggling homeowners' debt - National News, Frontpage - Independent.ie

Government won't write off struggling homeowners' debt - National News, Frontpage - Independent.ie
THE Government is not considering a 'debt-forgiveness' scheme to write off billions of mortgage debt for struggling homeowners, Tanaiste Eamon Gilmore confirmed yesterday. The comments came as public demand grows for a mass mortgage write-off. One homeowners' group is claiming 60,000 people face losing their homes unless a solution to the mortgage crisis is found. The clamour follows last week's claim by renowned economist Morgan Kelly that a debt-forgiveness scheme to rescue those in severe difficulty with their mortgages would cost just €5bn or €6bn.

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