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Thu 09 Sep 2010One in 20 mortgages now in arrears - up almost 40 per cent in one year
RESIDENTIAL DEBT:ONE IN 20 residential mortgages is now in arrears, as the number of people falling behind on mortgage repayments rose again in the second quarter of the year.
According to the Central Bank, of the 789,914 residential mortgages currently outstanding, almost 5 per cent, or some 36,438 mortgages, are now in arrears for 90 days or more – an increase of 12.7 per cent on the first quarter of 2010. Since the Central Bank started collating this information in September 2009, the level of mortgage arrears has increased by 38.7 per cent.
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