Ireland to mull mortgage forgiveness - minister

[sullyman]

http://uk.reuters.com/article/2011/08/21/uk-ireland-mortgages-idUKTRE77K0V520110821

(Reuters) - Ireland is to consider a proposal to write off up to 6 billion euros (5.25 billion pounds) worth of mortgage debt in a bid to boost the economy, the country's housing minister said.

 

[Kine]

How will debt forgiveness affect a person's credit rating? If you have an agreed, contracted solution (say the bank agreed to write off €50k), does your credit rating take a hit?

If this is the case, people will obviously have issues taking out mortgages in the future, but will this not also affect their ability to rent (to an extent)?

K

 

[Brendan Burgess]

Rejected by the Taoiseach and by Junior Finance Minister.

dealt with in other threads.