The Keane Report on Mortgage Arrears "A Dreadful Report"
There should be no blanket debt forgiveness scheme for those struggling to pay their mortgages, the now-published Keane report confirms.
The new report dealing with the escalating problem of mortgage arrears has been published by the Department of Finance.
Minister for Housing and Planning Willie Penrose will shortly launch two "mortgage-to rent" schemes.
An estimated 100,000 households are having difficulty paying their mortgages.
Work has already begun to implement key elements of the report, namely a mortgage-to-rent scheme where households in extreme mortgage distress and who are eligible for social housing can stay in their homes as tenants while the lender or a housing association effectively takes control of the house.
However the report found that a blanket debt forgiveness scheme would not be possible and instead recommends a case-by case approach.
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Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.