Charlie Flanagan TD, Minister for Justice and Equality, and Regina Doherty TD, Minister for Employment Affairs and Social Protection have announced plans to extend the Abhaile scheme for a further three years.
The Abhaile scheme was set up in 2016, to help people in home mortgage arrears and has so far provided financial advice and negotiation support to over 12,000 households at risk of losing their homes.
Charlie Flanagan TD's comments
Charlie Flanagan TD said: “This is a scheme which has helped many already and which we intend will continue, and help many more over the next three years. It is a scheme which is working. To date, 82% of those advised are either on the road to getting a solution or already have one in place. Accordingly, we were delighted to get the backing of our Cabinet colleagues today for this extension’.
Regina Doherty TD's Comments
Regina Doherty TD added: “Abhaile is often the first point of contact for distressed mortgage holders and it provides successful solutions - helping to put in place personal insolvency arrangements, alternative repayment plans or other arrangements, such as Mortgage to Rent, that are tailored to the borrower’s individual situation, and are realistic, sustainable and fair, both to borrowers and to creditors. Of those who have engaged with us, the vast majority have managed to stay in their homes, so I would encourage anybody who is in difficulty to take the first step and call the Money Advice and Budgeting Service (MABS).”
What is Abhaile?
Abhaile is the national State funded Mortgage Arrears Resolution Service. It is provided free of charge to insolvent borrowers who are at risk of losing their homes due to mortgage arrears. The Scheme is focused on providing expert financial and legal advice and assistance to identify and put into place solutions to those arrears that will, wherever possible, enable the borrower to remain in their home.
Abhaile is jointly funded and coordinated by the Department of Justice and Equality and the Department of Employment Affairs and Social Protection.
It is run by the Money Advice and Budgeting Service (MABS), working with the Insolvency Service of Ireland (ISI), the Legal Aid Board (LAB), and the Citizens’ Information Board (CIB).
The MABS helpline is open Monday - Friday 9 am to 8 pm at: 0761 07 2000
There is also information on Abhaile on the Money and Budgeting Service (MABS) website.
All Abhaile services are confidential and are provided without charge to the borrower.
Source: Welfare.ie press release: Ministers Flanagan and Doherty announce extension to Abhaile Scheme