Frances Black (Independent) | Oireachtas source

Apologies for being late but I read Deputy Michael McGrath's statement last night. It is time for this legislation and I commend the Deputy on the work that he is doing.

I wholeheartedly support the Bill. Any measure that prevents borrowers from losing their homes has to be welcomed. As we all will be aware, Fr. Peter McVerry, who is a wonderful man, said this country is returning to Famine times by evicting families and the Government is not willing to take on vested interests. Worried family members are coming to us daily because the next step for them is to go into hotels. I really do commend the Deputy.

I just have one comment or question to see the Deputy's thinking on this. Can we strengthen the legislation by compelling the banks to offer repossessed homes to their original owners at the same price as vulture funds are paying? I do not know whether that is feasible but I wanted to throw that out there because that is a huge issue. The vulture funds are able to pick up homes from which borrowers are being evicted. They are buying them at cheap rates. Would it not be a better idea to be able to offer the family the home back at that cheap rate? I merely wanted throw that out there and see what the Deputy's thoughts are on that.