78. Deputy Stephen S. Donnelly asked the Minister for the Environment, Community and Local Government his position regarding local authorities taking on houses with distressed mortgages, for example, a house worth €200,000 with a €400,000 mortgage which will not be paid, the council takes on a new mortgage with the same lender at the market value of €200,000 and rents the property back to the initial occupiers, potentially with a buy-back mechanism; the analysis that has been conducted to date on the viability of potential options; the level of activity that has taken place to date in this area; and if he will make a statement on the matter. [13040/13]

Summary

78. Deputy Stephen S. Donnelly asked the Minister for the Environment, Community and Local Government his position regarding local authorities taking on houses with distressed mortgages, for example, a house worth €200,000 with a €400,000 mortgage which will not be paid, the council takes on a new mortgage with the same lender at the market value of €200,000 and rents the property back to the initial occupiers, potentially with a buy-back mechanism; the analysis that has been conducted to date on the viability of potential options; the level of activity that has taken place to date in this area; and if he will make a statement on the matter. [13040/13]

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• Mortgage to Rent Scheme

  xml · EN · 12 March 2013

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