Séamus Healy (Tipperary South, Workers and Unemployed Action Group) | Oireachtas source

Up to 30,000 families face eviction due to the Government's failure to protect them. Mortgage holders will not qualify for the insolvency procedures because they have no disposable incomes or disposable assets. They have fully engaged with their lenders. They are not strategic defaulters. Their only assets are their family homes. They hold modest mortgages, many of less than €100,000 and almost all of less than €200,000. They are all low-income families, many headed by unemployed people.

They are in this position through no fault of their own. They took out mortgages when employed to put roofs over their heads and to provide for their families. Now, they are unemployed because of the reckless activity of the entire Irish establishment, including the Central Bank, the banks, the Government, their cheerleaders in the media and the State research bodies that predicted a soft landing.

The same banks that destroyed society and that we bailed out are threatening these genuine mortgage holders with eviction. I have a letter from one of the pillar banks to such a mortgage holder. It outlines the options available to the person, including voluntary sale and voluntary surrender. In the event of a shortfall, the person would remain liable under all of the options for the outstanding debt, including accrued interest, charges and legal, selling and related costs. The bank would always seek the gross sale proceeds.

The letter threatened eviction. The bank noted that-----

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