Finance Minister Jack Chambers has been called on to introduce rules to stop vulture funds acting in what has been described as an unfair manner with mortgage holders who are trapped with them.
Fianna Fáil TD Robert Troy said people whose loans were sold to vulture funds, and who cannot move lender due to having missed payments in the past, have been “thrown to wolves”.
He claimed funds won’t offer proper write-downs and instead are only offering token write-offs of debt for those unable to meet their repayments.
Close to 60,000 people are mortgage ‘prisoners’ of the vultures, unable to move to other lenders as they may have been in arrears in the past.
Read the full details in the Irish Independent
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