Task force to help mortgage holders in Galway

Date Published: 30-Jul-2009

AN emergency task force is being set up in Galway to try and assist mortgage holders who have fallen into a serious state of arrears.

The group will deal with banks and other financial institutions on an individual basis in order to negotiate a possible package for those in a chronic financial situation.

And it has been learned by The Connacht Tribune that more and more of those in arrears are being threatened by repossessions by the lending institutions, who had earlier given an undertaking to stall such actions.

But in recent weeks the likes of St. Vincent de Paul and MABS in Galway have been inundated with pleas for help from householders who are convinced that they will lose their homes.

Most of those who approach these organisations have been made redundant over the past year and since then the arrears have been mounting up.

Now, a task force made up of financial and legal experts has been established in Galway and will deal with individuals across both Galway…