Daft Property - Irish Property News

Government won't write off struggling homeowners' debt... THE Government is not considering a 'debt-forgiveness' scheme to write off billions of mortgage debt for struggling homeowners, Tanaiste Eamon Gilmore confirmed yesterday. The comments came as public demand grows for a mass mortgage write-off. One homeowners' group is claiming 60,000 people face losing their homes unless a solution to the mortgage crisis is found. The clamour follows last week's claim by renowned economist Morgan Kelly that a debt-forgiveness scheme to rescue those in severe difficulty with their mortgages would cost just €5bn or €6bn. But Mr Gilmore yesterday moved to calm growing expectations that a scheme was imminent, saying the Government was not considering "some kind of blanket write-off or mortgage debt forgiveness, as is being suggested by some". It is understood that many senior cabinet figures, including Finance Minister Michael Noonan and Public Expenditure