Repeated warnings about a tsunami of home repossessions – long threatened, but yet to arrive – has raised doubts about the scale of this legacy problem from the decade-old economic crash.
At the time of the financial crisis there were 700,000-odd mortgages with outstanding debt of about 110 billion on the countrys books. More than 100,000 ended up in some kind of financial distress.
Tens of thousands of mortgages were restructured to help borrowers repay them over the past decade but there remains a large rump of mortg…
Read the full article at: https://www.irishtimes.com/news/consumer/explainer-is-there-a-tsunami-of-home-repossessions-coming-1.3947004