Govt finally admits it’s not doing enough to help Donegal families in mortgages crisis

The Government must now take decisive action to help Donegal families in serious mortgage difficulty after admitting that it hasn’t done enough to tackle the mortgage crisis, according to Donegal Senator Brian Ó Domhnaill.


Senator Ó Domhnaill said: “The Government has all but ignored the deepening mortgage arrears crisis since coming to office 13 months ago and we are now seeing the extent of the pressure on families. Every three months official Central Bank figures have shown the mortgage crisis is getting worse. I am seeing the direct impact of this in my own constituency, with thousands of families across Co Donegal struggling to make ends meet.


“I am glad that the Taoiseach and Tánaiste now agree with what we have been saying for months – that not enough has been done and more urgency is needed to deal with this crisis. They must now back this up with real action that offers tangible support to Donegal homeowners in difficulty.


“At no stage has this Government brought forward a strategy for dealing with the mortgage arrears crisis – despite receiving the Keane report on mortgage arrears last more than six months ago. The Government has been relying on the banks to solve the problem. Now they’re realising the banks are more interested in self-preservation and holding on to their cash reserves for themselves rather than helping solve the crisis facing families here in Donegal.


“The difficulties facing people are getting worse. The survey by the Irish League of Credit Unions this week shows almost half (47%) of people have 100 or less at the end of each month after paying their bills; 46% said they’re unable to save any money; 45% are struggling with car finances; and more than a quarter (28%) said they cannot afford the household charge.


“Fianna Fáil has already brought forward solutions that will help people in difficulty and we will continue to do so. Now is the time for Fine Gael and Labour to start treating this crisis for families with the seriousness it deserve, instead of sitting on the fence as they have done for the past year while more and more families in Donegal, Sligo and across the country fall deeper into debt.”



Posted: Apr 23, 2012     |     Categories: Uncategorized