Daft Property - Irish Property News

Repossessions occur almost on daily basis, says regulator... Level of arrears doubles in 15 months THE homes of 331 people have been repossessed this year -- almost one a day -- and a further 26,271 mortgage holders are three months or longer behind in their mortgage repayments. This means the percentage of households falling into arrears has more than doubled in the last 15 months, new figures from the Financial Regulator show. But mortgage experts accused the regulator last night of down-playing the extent of the mortgage crisis. They said the figures take no account of the thousands of homeowners who have got permission from their lenders for a payment holiday or are now only paying the interest on their mortgage in a bid to lower the repayments. The figures show that the State's 22 mortgage lenders held a total of 331 repossessed homes by the end of September. In the three months from June to September alone 110 properties were repossessed. Included in the 331 repossessed prope