Last week, I raised the issue of home repossessions and mortgage arrears and the numbers of cases coming before the courts. There have been 7,000 repossession orders lodged in the courts as of January of this year, not to mind the 8,000 last year, and it is estimated that over the next two years up to 25,000 family homes could be repossessed.
It is interesting to note that two thirds of those in arrears are actually in employment, demonstrating a capacity, if the banks would only engage with them, to meet their obligations under sustainable resolutions.
Last week, my party colleague, Deputy Michael McGrath, brought forward the Family Home Mortgage Settlement Arrangement Bill in good faith. That Bill would have ended the situation whereby the banks have been in the driving seat and have dictated the pace and nature of resolutions because of the Land and Conveyancing Law Reform Act introduced by the Government in 2013.