# Central Bank says corner has been turned in mortgage arrears crisis



## Brendan Burgess (6 Oct 2014)

Governor Honohan has sent a very long letter to the Oireachtas Finance Committee 

[broken link removed]


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## Kine (6 Oct 2014)

Stats ahve to be taken with a pinch of salt - I am a "restructured case" but essentially it was a 3 year deal / Amend and pretend. 

Then again, lets hopefor another property so I can sell out as soon as NE gets managable!!


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## Brendan Burgess (6 Oct 2014)

*Odd figures on repossessions 

*


> In addition, though, a large number of cases processed by the banks (31,170) have had legal proceedings initiated.  In the vast majority of these cases the borrower has been deemed non- cooperating2.   Even though these have been placed in a legal process, it is likely that, given cooperation, some sustainable restructure could be designed for many of these cases.  To date, lenders have obtained possession through the legal route in 5,2133  cases; these are cases in which no sustainable restructure could be designed.  The remainder are at an earlier stage in the legal process and lenders find that a proportion have become willing to cooperate after the legal process began.  As a result, it is difficult to estimate how many cases of loss of ownership will actually crystallize.




Where is this 5,213 figure coming from? 
OK, the footnote says that 2,000 are PDHs, which is about right for the last 5 years or so.


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