1,000 A Month Seek Help To Pay Mortgage

by noor on November 10, 2009 · 0 comments

in Mortgage News

 

There are more than 1000 people who are looking towards government for assistance in order to pay their mortgages. However, a lot of them are asked to wait for next couple of months.

people want help to pay mortgage

The mortgage interest relief supplement is specially made for people who are unable to pay their mortgages. Through this supplement they can extend their payment duration with the consent of the lender.

According the data found by the Irish Independent, Government expects to spend €60m in the current year in order to provide homeowners assistance.

The data found further shows that approximately 400 households a month are now getting an average of €367.40 every four weeks from the State to assist them recover certain amount of their payments. Approximately 14,136 homeowners are now getting the Government’s support. This is further expected to go up to 15,500 by the end of the year.

Furthermore, the information gathered by Irish Independent also shows that 2,116 people had requested for the mortgage interest supplement in May 2009 but only 1,644 of these were given assistance.  Majority of the applicants were from the eastern and southeast part of the country.

This supplement is designed for the purpose to repay the interest portion of the home loan only, not capital payments.

Application

In order to get your application approved, applicants or candidates must provide evidence or proof of having negotiated to reschedule the mortgage payments with their lender. There are some terms and conditions that need to be met in order to receive mortgage assistance and support.

 
 

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