Expert Group on Debt Reform report
- Thread starter Sunny
- Start date
Hmm, it's interesting - Minister Ó Cuív states that he looks forward to implementing changes to MIS based on this report.
I wonder did the Expert Group/ Dept of Social Protection think of considering
current recipients of MIS for over two years while also in receipt of Invalidity Pension, Disability Allowance or Illness Benefit & whose mortgages may or may not be in arrears.
1) Have any recomendations/provisions been made for the above group, or will they just blanketly have their MIS stopped? If so, when?
2) If so, should they go ahead & put their homes on the market now?
3) Can they apply to have their names added to their Local Authority Housing Lists immediately or will they have to wait until their homes are sold, (which is presently the case)?
4) Will this group get priority on the Local Authority housing Lists?
5) Will the Government arrange the sale of these people's homes & provide financial assistance for the preparation of the homes (paint etc) for viewing by prospective buyers? Will the Government provide centres/hospital accomodation if necessary for those forced to sell to go to when their homes are being viewed by any prospective buyers?
Yesterday's Press Release from Minister Ó Cuív's office has caused great concern, confusion & anxiety to people in this category, who already have enough worries regarding their health issues, so I wonder where this leaves people in this category.
These changes will effectively force this group of people into mortgage arrears, which seems both drastic & non-sensicle. In most cases the amount of MIS would probably be far less than a Rent Supplement. It certainly seems irresponsible to issue press releases with no mention of minority categories IMO.
I wonder did the Expert Group/ Dept of Social Protection think of considering
current recipients of MIS for over two years while also in receipt of Invalidity Pension, Disability Allowance or Illness Benefit & whose mortgages may or may not be in arrears.
1) Have any recomendations/provisions been made for the above group, or will they just blanketly have their MIS stopped? If so, when?
2) If so, should they go ahead & put their homes on the market now?
3) Can they apply to have their names added to their Local Authority Housing Lists immediately or will they have to wait until their homes are sold, (which is presently the case)?
4) Will this group get priority on the Local Authority housing Lists?
5) Will the Government arrange the sale of these people's homes & provide financial assistance for the preparation of the homes (paint etc) for viewing by prospective buyers? Will the Government provide centres/hospital accomodation if necessary for those forced to sell to go to when their homes are being viewed by any prospective buyers?
Yesterday's Press Release from Minister Ó Cuív's office has caused great concern, confusion & anxiety to people in this category, who already have enough worries regarding their health issues, so I wonder where this leaves people in this category.
These changes will effectively force this group of people into mortgage arrears, which seems both drastic & non-sensicle. In most cases the amount of MIS would probably be far less than a Rent Supplement. It certainly seems irresponsible to issue press releases with no mention of minority categories IMO.
Moral Ethos
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+100
Actually nothing has been done to address the penal interest rates charged by sub prime lenders. As a result any one in trouble with a sub prime mortgage cannot avail of MIS or any other government schemes.
Actually nothing has been done to address the penal interest rates charged by sub prime lenders. As a result any one in trouble with a sub prime mortgage cannot avail of MIS or any other government schemes.
Brendan Burgess
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I checked with the Department of Social Protection who informed me by email:
"There will be no changes at present for people on Mortgage Interest Supplement. No changes being contemplated will disadvantage existing Mortgage Interest Supplement recipients. "
"There will be no changes at present for people on Mortgage Interest Supplement. No changes being contemplated will disadvantage existing Mortgage Interest Supplement recipients. "
I read a report a while back that said that in the US, one third or so of sub prime borrowers would have been able to borrow from "normal" banks had they applied or scaled back the amount they were looking for. I do wonder if the same applies here?
I can understand why sub prime lenders would charge higher rates to reflect the higher risk they are taking on but I can't help wondering if some of the borrowers should ever have been lent money in the first place, especially given the report from the Dept of Social Protection saying that 18% of people on MPS borrowed more then 6 times their salary
Moral Ethos
Registered User
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I agree. But for some people there was no choice in lender. I mean the ones that borrowed sensibly.
From my observations CWOs are blanketly refusing MIS to anyone with a sub prime mortgage. From what I can see it would facilitate the state if these people were made homeless rather than help them and then stick them in council houses/rented houses. I finds that very wrong indeed.
From my observations CWOs are blanketly refusing MIS to anyone with a sub prime mortgage. From what I can see it would facilitate the state if these people were made homeless rather than help them and then stick them in council houses/rented houses. I finds that very wrong indeed.