Page 21 - Garda Journal Summer 2019

FEATURE | MABS (Abhaile)
MABS Abhaile
Service
I’m in mortgage arrears on my home, what supports are available to me?
You might think it will never happen to you, but it’s easy to get into mortgage arrears if your situation changes or the unexpected happens. You might experience a temporary setback or a long-term change in your circumstances, but it doesn’t always mean that you’re going to lose your home. There are supports out there to provide advice and practical support - even if you’re facing the threat of repossession.
It is crucial that you don’t ignore the problem of mortgage arrears. When letters from creditors or solicitors begin to arrive in the door, it’s a very natural response to bury your head in the sand in the hope that the problem will go away. A recent report from the Central Bank has found that for borrowers who engage with their lender in a mortgage arrears resolution process (MARP), both regulated and unregulated lenders continue to put in place arrangements for borrowers and existing arrangements are honoured. Shame, stress and isolation are barriers to people coming forward and engaging in these processes. However, the sooner you seek professional help, the better, not only for your financial situation but your physical and mental health too.
WHO IS THERE TO HELP?
Abhaile is a state-funded mortgage arrears support service that works to help homeowners find the best solutions to their home mortgage arrears and, where possible, to keep them in their own homes. The financial and legal services provided by Abhaile are free of charge. To qualify, you must meet all four of these conditions:
• Be in mortgage arrears on your home.
• Be insolvent. This means that you are unable to
pay your debts in full as they fall due.
• Be at risk of losing your home because of your
home mortgage arrears.
• Be reasonably accommodated, i.e. the costs
of continuing to live in your home are not
disproportionately expensive.
MABS or your PIP will be able to tell you whether you meet these conditions.
FINANCIAL SERVICES
Financial advice is provided through a MABS Dedicated Mortgage Arrears Adviser (DMA), a Personal Insolvency Practitioner (PIP)* or an Accountant, should your case require one. The dedicated adviser will work with you and your lender to find the best solution for you and your situation.
1 Names and some details have been changes to protect their identities.
LEGAL SERVICES
The legal services available to you are a Consultation Solicitor, a Duty Solicitor, a MABS Court Mentor or a Personal Insolvency Court Review Service. The Review Service is only available if you have already worked with a PIP and have had a Personal Insolvency Arrangement (PIA) to your creditors rejected.
REMEMBER, YOU ARE NOT ALONE
To date, Abhaile has helped over 11,600 people. The key message for those in arrears is that “it is never too late to seek advice”. No matter how bad the situation appears, a positive outcome can be achieved. Two of those 11,695 people were John and Mary1 , who came to MABS and had their situation turned around.
“We are parents of a primary school going child. We have been through a very difficult period in our lives. I lost my permanent teaching position due to life/ health circumstances that could happen to anyone. My husband is a tradesperson. He, like many others, depended on the construction sector for employment. This sector imploded from 2006, due to the recession. We were left with a new baby, a large house with a large mortgage, no income. Needless to say, our health suffered further. We found ourselves slipping into arrears. The best step we took was the day my husband organised an appointment with Brian in MABS. He told us about the Abhaile service. We had several meetings with Brian and some of his colleagues. The people there were patient, empathetic, non-judgemental, and highly knowledgeable in all the necessary monetary, financial and budgetary advice areas. Everything was simplified. MABS and the Abhaile scheme brought us from near repossession and desperation to gaining a pathway towards financial stability and keeping our family home. We could never find the words to thank MABS enough for their support and guidance. No matter how bad you think things are, we would highly recommend and encourage anyone with mortgage arrears or in a similarly difficult situation to get in touch with MABS”.
If you are in mortgage arrears and fear you are at risk of losing your home, you may be eligible for assistance under the Abhaile service. For information, visit www. mabs.ie/en/abhaile/ or call the MABS dedicated helpline on 0761 07 2000.
* Personal Insolvency Practitioners are regulated by the Insolvency Service of Ireland.
GARDA JOURNAL 21