Govt to consider bill to keep people in mortgage arrears in their homes
The Justice Minister Charlie Flanagan will this morning seek cabinet approval to publish a bill aimed at broadening the factors that judges need to take into account when considering repossessions.
It stems from the Keeping People In Their Homes Bill brought by Independent Alliance Minister Kevin Boxer Moran last year.
Under the bill judges may have to take into account any refusal or reluctance by the bank to engage with its customer on sorting out a means of repayment.
While it would also look at any situation where a borrower was refusing to engage with the bank on their loan.
If a person in mortgage arrears made a decent proposal to the bank to find a resolution that keeps them in their home, the reaction of the lender would also be put into consideration.
Under the bill judges would have to consider whether making a repossession order would be a proportionate response to all the facts.
The amount of debt outstanding on the mortgage, the total arrears, and the market value of the property at the time of purchase could also weigh into the court's decision under this bill.
