City Council Owed Millions In Mortgage Arrears

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City Council Owed Millions In Mortgage Arrears


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Dublin City Council’s owed over 15 million Euro in mortgage arrears.

Figures for 2014 given to councillors show that there are 2588 mortgages on Dublin City Councils books.

However, 46 percent of them, or 1192, are in arrears.

Three-quarters of the loans have been in trouble for over 3 months and half for more than a year.

251 of them are unsustainable with 154 hoping to move to mortgage to rent schemes.

But Daithi Downey from the Dublin Regional homeless executive says they have had to evict some householders.

"Some of these properties are due for possession. 25 are in process this year, 12 of them are abandoned at that point. The remaining others are due for possession, mostly voluntary surrender."

He added that most householders are working with the council to try and find a solution.

"There's a very good, healthy, honest working relationship and our colleagues in the Mortgage Support Unit are increasingly adept and skilled at trying to help resolve the challenges that are presenting for households".

Houses that have been taken back by the council are given to people who're waiting on the council's social housing list.

 


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