I have studied this paper again and it is well worth reading for anyone who is concerned about the mortgage arrears problem. It has a wealth of useful data and it has very little useless data.
Half of all those in arrears over 90 days have some equity in their home.
As of September 2011, there were 9,515 borrowers in arrears and negative equity in the covered banks.
The covered banks account for 68% of mortgage accounts but only 48% of mortgage arrears.
The author calculates that there are between 25,000 and 40,000 in both arrears and negative equity for all banks.
I would estimate it at around 30,000.
This is a very important figure. I have guessed that there are around 10,000 people with unsustainable mortgages. This seems to be about right, in retrospect.
Brendan