State should take over distressed mortgages instead of vulture funds

The Government’s housing for all plan to address mortgage arrears does not go far enough to deal with distressed mortgages in Wexford according to a leading charity.

Speaking to Alan Corcoran on Morning Mix, Father Sean Healy from Social Justice Ireland says the Government could generate more social housing stock while at the same time allowing people to stay in the home under a State funded equity system.

The State would take on the troubled mortgage instead of vulture funds and the householder pays rent to the State.

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