Sir, – Not ownership, nor tenancy, but slavery.
This appears to be the Keane report’s best solution for struggling Irish homeowners who are in difficulty meeting their original mortgage payment schedule (Front page Finance, October 13th).
The report’s apparent focus on ensuring that banks, come what may, profit from this recession, is scary.
Disregarding how much of his or her mortgage a homeowner has already paid off, which in a just world would count for actual ownership of an equal percentage of their home, the Keane report’s suggestion of a mortgage to rent scheme recommends that the bank gets to keep what has been paid, sells your home from under your family’s feet after the lease is up and then demand any balance due. The report has the fingermarks of bank-speak all over it.
It’s crunch time for this new government. Does it – with cap in hand – proceed with a Troika-led self-serving, euro-saving agenda, or will it remember those it was elected to represent? – Yours, etc,