Oireachtas Joint and Select Committees
Wednesday, 29 April 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland
2:00 pm
Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source
I take it that is a "yes" therefore that the Bank does follow after homeless people for the balance. The answer is that it is full recourse lending on the property and the person is liable for the recovery of any shortfall between the sale proceeds and the mortgage loan. I am surprised, but Bank of Ireland seems to suggest it does follow up on homeless people for the negative equity.
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