Bloomberg News

Irish Home Loan Arrears to Rise Further, State Group Says

October 12, 2011

Oct. 12 (Bloomberg) -- Irish home loan arrears will rise further after a “dramatic” increase in the last two years, according to a government-appointed group.

Some 55,000 mortgage accounts are in arrears of more than 90 days, with another 70,000 accounts restructured, the group said in a report published today in Dublin. The group recommended the creation of two mortgage-to-rent schemes and the examination of split mortgages and negative equity loans.

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