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Struggling Homeowners...

Struggling homeowners turn to SVP... Under-pressure homeowners are using every last cent to pay their mortgage bills, leaving them so short of cash they are turning to the Society of St Vincent de Paul for extra money to buy food and pay utility bills. In the capital, St Vincent de Paul volunteers dealt with a massive 10,000 calls in the first four months of this year -- up 30 per cent on 2009. Now they fear there will be a further raft of people in trouble with their mortgages when redundancy payments given to people who lost their jobs last year run out. According to ratings agency Moody's, the number of Irish people who have fallen behind in their mortgage repayments has come close to doubling in the last 12 months. The rate of delinquency in mortgage repayments -- those with more than 90 days of mortgage arrears -- rose to 3.8 per cent in March up from 2.1 per cent during the same month last year. According to John Monaghan of the St Vincent de Paul Society, more and more peopl

Thousands Seek Mortgage Help...

1,000 a month seek help to pay mortgage... MORE than 1,000 people a month are turning to the Government for help to pay their mortgages. But as many as half of them are being turned down some months. The dramatic rise in the numbers who cannot afford to meet their monthly mortgage repayments has underlined the scale of the crisis affecting a growing number of desperate homeowners. The mortgage interest relief supplement is designed to cover the interest portion of the home loan. Those seeking aid have to show they negotiated to reschedule the mortgage payments with their lender. They also have to be means tested. And both husband and wife must be out of work. The increase in applications comes at a time when mortgage interest rates are at record lows. Expected rises in the next year are likely to push substantially more people to the financial brink. Figures obtained by the Irish Independent reveal that the Government expects to have to spend €60m this year helping homeowners to pay th