Oireachtas Joint and Select Committees
Thursday, 10 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland
1:20 pm
Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source
I noticed that the bank called in receivers for some home loans, which is unusual. I have not seen that happen with the other institutions. I have seen receivers called in for buy-to-lets. How many civil proceedings does the bank have under way, outside of what is measured here in terms of the courts?
There is an issue at the moment with regard to positive equity. I call it the paradox of positive equity. It means that people perceive that they are more vulnerable to the financial institutions and banks if they are in arrears but in positive equity. Is the bank pursuing customers who are in arrears for fewer than 90 days via court proceedings?
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