The Government has been urged to impose real and helpful solutions to help owners with their mortgage repayments, or the number of family homes being repossessed will rise dramatically.
The news comes as the Central Bank released figures that confirmed that the number of people in mortgage arrears has dropped again in the second three months of the year.
Although, the bank’s figures also suggest that there is a 5% increase in the number of people who are over 90 days behind with their homeloan repayments, the report also states that the number of banks taking legal proceedings against homeowners has also risen by 5%.
The chairman of the Irish Mortgage Holders Organisation, David Hall, has said that more and more people will have their homes repossessed unless the Government takes the appropriate action.
Mr Hall told reporters that: “The reality is that unless and until Government impose solutions – not impose write-off or magic wands – unless they impose specific solution to all lenders within the State that give everyone a fair and equitable chance to stay in their home in a reasonable way, then we’re in for a very, very, very rough number of years ahead.”