Struggling homeowners will soon be able take advantage of one of the 27 special Money Advice and Budgeting Service (MABS) outlets nationwide and will also be able to consult with court “mentors” during hearings. The Department of Social Protection is increasing the ability of MABS to assist distressed mortgage holders through a number of different measures including a greater role in offering information and advice through all stages of the mortgage arrears resolution process (MARP).
New measures to help those in debt
The new measures will also target dedicated mortgage arrears, focusing on cases which have been through MARP. This will help the mortgage holder to assess whether the option on offer from the lender is the “best and most sustainable option”. They will also be able to negotiate with the lender on behalf of the client where required.