![]() ![]() Read more about dealing with problem debt.Īs soon as you realise that you have a problem with mortgage arrears or other debt, you can start taking action to deal with it. If you build up other debts and are unable to repay them, then the people who you owe money to may register that debt as a 'judgment mortgage' against your home and look to recover their money in that way (see our page on repossession). Under the Central Bank’s Code of Conduct on Mortgage Arrears (CCMA) (pdf), lenders must operate a Mortgage Arrears Resolution Process (MARP) when dealing with customers in mortgage arrears and pre-arrears.Įven if if you are not in mortgage arrears, or have no mortgage at all, your home could be in danger of repossession if you have other debts. In line with these codes, your lender must take certain steps to deal with any problems you have in paying your mortgage. Local authorities operate under similar guidelines (pdf). Lending institutions such as banks must follow codes of conduct when dealing with people who are in mortgage arrears or pre-arrears. They want you to continue making your payments – repossession is the last resort. Your lender does not want to repossess your home. Delaying and allowing mortgage arrears to build up will make the problems worse. If you are having difficulties paying your mortgage, even if you are not actually in arrears, but are in pre-arrears, you should contact your lender’s Arrears Support Unit immediately. If you fall into arrears, your lender may eventually look to repossess your home. When you take out a mortgage, the mortgage lender gets a claim on your property. ![]() The mortgage on your house, flat or apartment is probably the biggest and most important financial commitment that you have. No matter what your situation is, MABS will help you work out the next steps.Ĭall MABS today on 0for independent information, non-judgmental advice and referral. MABS is a one-stop-shop for mortgage debt advice and referral. Under Abhaile, MABS has a dedicated confidential, free, and independent mortgage arrears service. ![]() MABS is part of Abhaile, the free mortgage arrears support scheme. You may be worried about losing your home, if you’re behind in your mortgage payments. ![]()
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