Ireland Approves Principal Reduction Law to Help Fight Foreclosure

As seen in a recent post on Mortgage Orb, the New York Times reports that Ireland’ s lawmakers have passed legislation which will allow homeowners to fight foreclosure by working with lenders to reduce principal amounts thereby making payments more affordable and rejuvenating the housing market.

Sources:

New York Times, December 19, 2012

Peter Eavis

http://dealbook.nytimes.com/2012/12/19/ireland-passes-law-to-bolster-housing/