Borrowers in mortgage arrears to gain vital court protection
Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain vital court protection under new legislation announced today.
Justice Minister Helen McEntee has secured government approval for priority drafting of the short but urgent Personal Insolvency (Amendment) (No. 1) Bill in light of the Covid-19 pandemic and its effect on jobs.
Under the bill, insolvent homeowners will have the right to seek review by a court if their mortgage lender or other creditors refuse a reasonable proposal for a personal insolvency arrangement.
This is already an option under the Personal Insolvency (Amendment) Act 2015 f…
Read the full article at: https://irishlegal.com/article/borrowers-in-mortgage-arrears-to-gain-vital-court-protection
