Mortgage Restructuring Arrangement
What is a Mortgage Restructuring Arrangement (MRA)?
A new bill has been published in Ireland in relation to the Personal Insolvency Act 2012. This Bill is called the Mortgage Restructuring Arrangement 2013. The aims of the bill are
[ ...to provide for the restructuring and disposal of certain mortgage arrears; for the retention, where practicable, of the principal private residence in instances of certain mortgage arrears; for the removal of significant negative equity debt in the case of eligible persons; and to provide for related matters.]
We will be providing more information on MRA's in the near future. Please check back soon.
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