McGrath backs ‘friendly vulture fund’ plan

Photo © mattiemcgrath.ie

A plan to save homes at risk of repossession will be brought to the Government’s Finance Committee tomorrow.

The national housing co-operative strategy has been described as a ‘friendly vulture fund’.

Its aim is to buy up distressed mortgages from banks so people won’t be forced to leave their homes.

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The proposal is being brought to the Dail by Tipperary Independent TD Mattie McGrath and Fianna Fail’s John McGuinness.