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Ireland: Once Frenzied Borrowers About To Lose Their Homes

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Borrowers at risk of losing their homes

Loan companies increasingly taking mortgagees to court
By Dearbhail McDonald
Saturday May 19 2007
HUNDREDS of borrowers who are struggling to meet mortgage repayments are at risk of losing their homes.
The Irish Independent has learned that sub-prime lenders - companies that lend to people with a poor credit rating and that have aggressively targeted the Irish market - are increasingly taking borrowers to court for defaults on mortgage repayments, remortgages and other high interest loans.

"POP" goes the Irish bubble. :o

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