McGrath backs ‘friendly vulture fund’ plan

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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.

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