Mortgage News

Vulture funds shy away from court action on repossessing homes

New court rules gazetted last week make it far more difficult for banks to get away with this. The government last week gazetted new court rules designed to stop repossessed homes being sold at It gives the customer in distress far more ammunition to defend an action by the bank, particularly if.

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"Vulture funds are not interested in keeping you in your home," says David Hall, chief executive of the Irish Mortgage Holders Organisation, which advocates for homeowners. Pearse Doherty, an MP for the leftwing Sinn Fin party which has led the political revolt against the investors’ tax breaks and.

Master of the High Court, Edmund Honohon has highlighted the abuse in Ireland of Section 110 Special Purpose Vehicle legislation which benefits vulture funds. He also said the government is not putting appropriate policy in place to prepare for the "wave of repossessions [of homes] that’s about to break".

‘No material difference’ in repossessions by vulture funds compared to banks. A new report into how so-called vulture funds deal with home owners who are in mortgage arrears has He added the Government is "always prepared to make changes and support actions where the Central Bank.

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