Mortgage crisis escalates in Ireland

New figures published by the Central Bank of Ireland on the 25 May 2012 showed 77,630 residential mortgage accounts were in arrears of more than 90 days. A further 79,712 mortgages had already been restructured by lenders following contact with borrowers, who faced difficulties meeting their repayments.

this meant that one in 10 Irish households had fallen behind with their home loan repayments amid an escalating mortgage crisis that was raising fresh questions about the health of Ireland’s banks and threatening to derail the country’s economic recovery.

ESO: Background information: Few Irish eyes smiling amid fragile recovery http://www.europeansources.info/record/few-irish-eyes-smiling-amid-fragile-recovery-irish-mortgage-problems-increase/

Irish Times, 25.5.12: Taoiseach defends strategy amid mortgage arrears rise http://www.irishtimes.com/

Central Bank of Ireland: Press Release, 25.5.12: Residential Mortgage Arrears and Repossessions Statistics: Q1 2012 http://www.centralbank.ie/press-area/press-releases/Pages/ResidentialMortgageArrearsandRepossessionsStatisticsQ12012.aspx

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