New service to help at-risk homeowners in Cavan in mortgage arrears – Senator Joe O’Reilly

Fine Gael Cavan Senator, Joe O’Reilly,  has said that the new nationwide Mortgage Arrears Resolution Service, Abhaile, will help at-risk homeowners in Cavan who are in mortgage arrears.

 

“My colleagues Tánaiste Frances Fitzgerald and Minister for Social Protection, Leo Varadkar, have launched this innovative mortgage arrears resolution service.

 

“The new service provides Cavan homeowners in mortgage arrears with free, independent expert advice and support on financial and legal issues.

“The number one objective is to help people in Cavan to stay in their home wherever possible. The scheme started in late July and is already proving very effective. Eligible clients in Cavan are given vouchers to obtain expert advice from financial and legal advisers in order to resolve their debt issues. They can get assistance in court where needed, have access to solicitors, and get help obtaining legal aid. They can also get financial advice from a Dedicated Mortgage Arrears advisor, a Personal Insolvency Practitioner (PIP), or an accountant.

“Mortgage arrears of more than 90 days are falling rapidly and are down to 7.8% from a peak of 12.9%. But they are still too high and Fine Gael is committed to doing more to tackle this problem.

“The new Abhaile service implements Fine Gael’s Programme for Government commitments to help keep families in their homes, by identifying sustainable solutions in mortgage arrears cases. We want to ensure that people who cannot pay their own mortgage can stay in their homes or move to new accommodation that they can afford. We do not want to see anyone foreclosed into homelessness.

 

“As a Fine Gael representative in Cavan I am committed to ensuring that homeowners here in Cavan who are struggling with mortgage arrears, and are at risk of losing their homes, can access independent expert advice and help on getting solutions into place.

 

“I would strongly encourage anyone in Cavan who is worried about mortgage arrears on their home to ask for help.”

 

ENDS

Senator Joe O'Reilly representing Cavan & Monaghan 2010. | An ExSite website