Communcations Minister says banks don’t want to repossess homes

The Communications Minister says banks are not interested in repossessing houses from customers who are in arrears with their mortgages.
Pat Rabbitte was responding to comments from SIPTU’s General President Jack O’Connor, who has described as ‘reprehensible and barbaric’ renewed talk of evictions.
But Minister Rabbitte says there has been no increase in the number of evictions and that we should wait to see the results of the Personal Insolvency Bill.
Yesterday the Secretary General of the Department of Finance, John Moran, told an Oireachtas committee that he expects to see more repossessions this year.
He was speaking after the Central Bank released figures showing nearly 12 percent of residential mortgages are now in arrears.