Greenspan visits the Emerald Isle
Insolvency experts are warning that mortgage arrears are still leading some homeowners to thoughts of suicide as the level of insurmountable household debt remains stubbornly high.
The Association of Personal Insolvency Practitioners (APIP) also says the ongoing problem of mortgage arrears is going to exacerbate the homelessness crisis as lenders lose patience and push for repossession.
Eugene McDarby, APIP chairman, said the crisis is clear to the 80-plus PIPs operating across the country.
“In the past week alone, I have met three clients who have admitted to giving consideration to taking their own lives,” he said.
“To wake up every morning knowing that you are in danger of losing your home would take its toll on the most mentally tough person.
Most recent Central Bank figures show that almost one in every 11 residential mortgages — representing 66,479 households — was in arrears at the end of June this year.