Lifting the load : help for people in mortgage arrears

Abstract

Commissioned by Waterford MABS. Supported by Citizens Information Board & MABS ndl. The dramatic housing boom and equally dramatic housing bust that followed have had very significant social and economic consequences. Among these has been a very substantial increase in mortgage arrears and negative equity. These in turn have led to a marked increase in demand for the services of the Money Advice and Budgeting Service (MABS). Waterford MABS's money advisers recognised that current supports were inadequate and that there were no clearly defined exit paths for mortgage holders whose loans were unlikely to be viable in the longer-term. In the context of this, Waterford MABS, the Citizens' Board and MABS National Development Limited (MABSndl) commissioned this research on mortgage debt and arrears among MABS clients.