Colleran-Molloy Calls For Moves To Assist Those In Home Mortgage Distress In Clare

Colleran-Molloy Calls For Transfer To Help Those In Mortgage Distress In Clare

Picture © Pat Flynn

Calls have actually been made in Clare for a body to be established to purchase distressed home mortgages and lease homes back to the owner, so individuals don’t end up on the streets.The National

Real Estate Co-Operative Society would get home loans from those struggling and lease the home to them at an accepted rate of rent.It would allow the occupant to eventually redeem their home loan if they remain in a monetary circumstance that allows them to.Ballybeg Fianna Fáil Councillor Clare Colleran Molloy proposed the concept– she states things cannot continue as they are.