Thursday, 25th May 2017
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Bumps & Babes
4th Tuesday of the
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East Cork Councillor Noel Collins Says The Government Must Protect its Citizens From Being Exploited By Financial Institutes
by SEAMUS WHELEHAN
Cork County Coun-
cillors are to write to the Minister for Finance Mi- chael Noonan urging him to better protect people behind distressed mort- gages. The move comes fol-
lowing the tabling of a motion by Cllr Noel Col- lins at a full sitting of the local authority. The Independent Cllr
had been calling for the government to provide legal protection for its cit- izens whose homes are at risk from banks and vul- ture funds. “If financial institu-
tions are not pressured into
helping of
holders, the situation will deteriorate and dash any hopes
The Midleton based
Cllr made his comments as the Association of Per-
an economic
recovery” he told the sit- ting.
mortgage
sonal Insolvency Protec- tion predict over 100,000 people
could be made
homeless by Banks and Vulture funds as property prices spiral. He said “Ireland is al-
ready in the worst hous- ing crisis in its history, and it could be a disaster if the Financial Institutions were allowed to engage in mass evictions, resulting in thousands more fam- ilies losing their homes.” The central bank has
revealed a record 455 homes were repossessed by banks in the last quar- ter of 2016. The number of mort-
gages that are in short- term arrears, rose during the same period for the first time since 2012. There
are almost
33,500 homes in mort- gage
arrears for more
than two years, leading to fears many could lose their homes. Cllr Collins said despite his “faded blue shirt” he
@eastcorkjournal / #eastcorkjournal
was appealing to Minister Noonan to come to the aid of
someone distressed mort-
gage holders. Fine Gael Cllr Michael
Hegarty who backed Cllr Collins motion said [when you see what a property is sold for
by
institutions who purchase distressed loan books it is “scandalous” and yet when you see the lengths individual mortgage holders are prepared to go to, the financial insti- tutions are not prepared to talk to them.] Sinn Fein Cllr Des O’Grady said he was “aware of one bank who are contacting mortgage holders who already have an agreement in place over a number of years and they are now trying to get more blood out of the stone, when there is no more money there.” Independent Cllr Di-
armaid O’Cadhla said “in the message
being sent back to Government eastcorkjournal can remind
Minister Leo Varadkar of his famous statement ‘not one more cent for banks’ in his 2011 election cam- paign. Of course he gave plenty more to banks and now we see what these same banks are doing to the people.” Fianna Fail
Cllr or
responsible for the deaths of people over the last ten years. They are your best friend if they think you have a few bob. The min- ute you get into trouble at all they come down on you like a tone of bricks.” She said she “would
Joe
Carroll said “people of- ten said that the banks never asked people to get into trouble take
out loans.
In actual fact the staff were under such pressure between giving them bonuses and promotion, the staff were in no position but entice people in to take these loans.” Fine Gael Cllr Forde
Deirdre
said “the bank- ing system has a lot to answer for our woes. It’s
slimmingworld.ie 01 656 9696 • Councillor Noel Collins. Tel: 021 463 8000 • Email:
info@eastcorkjournal.ie • Web:
www.eastcorkjournal.ie slimmingworld.ie 01 656 9696
Call Barbara 085 8675137
like to see the Minister for Finance to come down hot and heavy on these people way.”
if there is any
live happy! with
Carrigtwohill
live happy! with
Community Centre SlimmingWorld
Every Wednesday 9:30am & 11:30am
SlimmingWorld
7
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