Phelan and Quinn welcome new package on mortgage arrears
Issued : Wednesday 13 May, 2015
Labour Party Deputy for Carlow/Kilkenny, Minister Ann Phelan, and candidate in the upcoming by-election, Cllr William Quinn, have welcomed the Government's new package on mortgage arrears agreed by the Cabinet today.
Minister Phelan and Cllr Quinn said that these new measures would provide significant relief for many families in Carlow and Kilkenny who are struggling to meet payments on mortgages secured during the economic boom. They added that these measures would specifically help those in long-term arrears and would remove the threat of repossession of the family home from many families in the area.
Minister Phelan and Cllr Quinn paid tribute to the work of Labour Party Leader Joan Burton, Minister Brendan Howlin, and Deputy Willie Penrose for progressing this issue at Government level and in the Dail. Without this work by the Labour team, they added, many families would still be living with the appalling prospect of repossession.
Minister Phelan commented, "The clear aim of the new package of measures is to keep as many people as possible in the homes that they purchased. Through an improved system of early engagement, less court involvement, and better communications from the banks, we should ensure that those in long-term difficulty will not be at risk of losing their home.
"This vindicates the work done by the Labour Party to help those in mortgage distress. The challenge now is to ensure that the new package is implemented as fast as possible and remove the looming threat of repossession."
Cllr William Quinn added, "Housing is a major issue throughout Carlow and Kilkenny. Not only supply, but also holding on to the house that people have purchased due to pressure on meeting repayments. It is extremely welcome, therefore, that the Government has acted decisively to deal with this issue.
"Following the major investment in house construction that has been announced by Minister Kelly, this is good news for all those with concerns about housing in the area. It stands in contrast to the crash that Fianna Fail oversaw, and the inability of other parties to champion the cause of home-owners in distress.
"I hope that this will benefit many families in Carlow and Kilkenny and look forward to the measures taking effect as soon as possible."
Cllr William Quinn PCThe Labour Party
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