THE Chairman of the Public Accounts Committee, Cork Fine Gael TD Bernard Allen has called on the Government to urgently address the growing risk of home repossessions occurring across the country.
Figures published by credit rating agency Moody’s show that the 6,400 mortgage holders did not make any repayments in 2009. Deputy Allen warned that when repayment moratoriums begin to expire there is likely to be a dramatic rise in the number of repossessions being sought by lenders.
Deputy Allen said, “The threat of repossession is not just an economic one. Every home repossessed represents a story of heartbreak for the family involved affecting everyone. It places people under incredible stress and can contribute to family breakdown.
“Given the billions that are being pumped into the very institutions who created this disaster in the first place I believe there is a moral duty on the Government to do all they can to help ordinary people who find themselves in trouble as well.
“It is now time for the Government to give serious consideration to the Homeowner Support Scheme put forward by Fine Gael to help those in dire need and protect the thousands of Irish families facing repossession of the family home.
“The clock is ticking now for thousands of Irish families and it is time for the Government to step up to the plate and help,” he concluded.
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