Mortgages report to be published today
The expert report to the Government on how to relieve or resolve the mortgage crisis will be published today.
The Government has warned that a wide-scale debt-forgiveness programme is not on the table in the Keane report.
Instead it offers other possible solutions to banks, including allowing people rent their homes rather than pay the mortgages.
Almost 100,000 homeowners are understood to be struggling to pay their mortgages.
Martin Touhey of PriceWaterhouseCoopers said the US experience shows that a widespread debt-forgiveness programme does not work, as people simply slip back into default.
"The solution needs to solve for affordability. That affordability is set as a ratio of the person's mortgage payment to their income," he said.
Socialist party leader Joe Higgins said the only solution was to write down the "exorbitant, speculative, profiteering prices that working people were forced to pay" to the current market value of homes, and to reflect the new value in monthly mortgage payments.
"Not only does that resolve the crisis for very many homeowners, but it would put hundreds of millions - billions perhaps - into the real economy," he said.
