Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Now that the scheme is up and running, the Irish Council for Social Housing must have some recommendations. I have heard that in the small print it is stated that where someone is in negative equity, nobody talks about it and that it is technically parked, but it can come back and bite him or her at a later date. When banks agree to transfer under the scheme, is there an absolute write-off where someone is in negative equity? I know that the problem is diminishing as prices increase, but is the issue of negative equity dealt with?