Mary Hanafin (Dún Laoghaire, Fianna Fail)

There is a number of people who are in negative equity, but that does not mean that they are not able to repay the mortgage. They are still repaying a mortgage which relates to the loan that they took out but unfortunately, the value of the house has declined and that would impact on them if they sold it. Where real support can be given to mortgage holders is with regard to the capitalisation of the banks, and with the agreements and protocols that have been made with them so that they will not move on people, but negotiate with them instead. There has also been a new housing Bill, with a new incremental house purchase scheme for people, which allows them to find a new, innovative way of buying houses. That has been initiated by the Department of the Environment, Heritage and Local Government.

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