Seanad debates

Tuesday, 7 June 2011

2:30 pm

Photo of Marie MoloneyMarie Moloney (Labour)

I ask the Leader to invite the Minister for Finance to the House for a debate on the issue of young couples being evicted from their family homes owing to their inability to repay their mortgages. The number of couples affected, many of whom have young children, is escalating daily. I do not know how anyone in this House can look these people in the eye and tell them why the same banks which are now turning the screws on them have been bailed out to the tune of billions of euro. I, for one, cannot look them in the eye because I do not know why this is being allowed to happen. In my own constituency, I am aware of a couple with young children who will be forced their family home for at least €100,000 less than what they paid for it, which will leave them with negative equity that they will never be able to repay. They will never again be able to afford to buy a home and will be blacklisted because they did not pay the full amount borrowed. There is absolutely nothing to show for the €100,000 they have left to repay. This couple will go on the social housing list or receive rent allowance. Why not sink the rent allowance into the home to keep this family in a house? I ask the Minister to provide for the couples who are in this situation.

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