Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

I have also read the synopsis of the report and there are two key areas the Tánaiste has not mentioned. I repeat a sentence I already quoted: "However, this decrease [the 1.5% the Tánaiste mentioned] masks divergent trends between short-term and longer-term arrears." The report continues: "PDH mortgage accounts in arrears of over 90 days at end-September 2013 amounted to 99,189, an increase of 1,315 on the previous quarter." This means there is an increase in the number of people in mortgage arrears of 90 days or more. Within that cohort there are 31,843 residential mortgages in arrears of 720 days or more. This cohort cannot wait for the Tánaiste's hope to help the coping classes and have to be dealt with immediately. A threatening letter from a bank simply does not represent a solution.

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