Courts block banks from evicting people who have stopped paying their mortgage

Thousands of people stopped paying their mortgages during a two year period when the courts blocked the banks from evicting people.

That’s according to the Central Bank, which found a direct link between a 2011 High Court judgement blocking reposessions and a rise in defaults.

Personal Finance Editor with the Irish Independent Charlie Weston says many of these strategic defaulters were struggling to pay high interest rates, but still COULD pay their mortgages.