A tsunami of repossessions could be on the cards, due to rising mortgage interest rates.
That's the view of David Hall, chief executive of the Irish Mortgage Holders Association.
More than 23,000 homes are in mortgage arrears for more than two years.
Hall says there are some situations where repossessions are necessary.
there are necessary repossessions and there are unnecessary repossessions and that's where the difference comes.
There are a number of people making an effort and engaging where banks or vulture funds are not reengaging with them.
There are banks and vulture funds messing around with the insolvency regime and not co-operating legitimate.
There are a handful of people who are messers who should not represent anybody who is in great difficulty.
