Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

If I understand it correctly, at the point of the property and the loan being transferred into the co-op, the loan is extinguished and the previous mortgage holder becomes a tenant of the co-op. A financial assessment is then done and if they can afford to service the mortgage or a restructured version of the mortgage, they would then buy back the property from the co-op under revised terms. Is that it?