71 Deputy Mary Wallace asked the Minister for Finance if he will list the steps taken by him to protect and assist families who are concerned about losing their homes and are experiencing difficulty in meeting mortgage payments; and if he will make a statement on the matter. [46357/10]

List of steps taken:

I have spoken extensively in this House on the supports which are available to those homeowners who find themselves in difficulty. These supports include the Code of Conduct on Mortgage Arrears, the Mortgage Interest Subsidy Scheme and the services provided by the Money Advice Budgeting Services.

The Deputy will be aware of the Government's commitments under the Renewed Program for Government for introducing new measures to protect families having difficulties with their mortgage repayments and personal indebtedness under the headings Protecting the Family Home and Helping Those in Debt . Since the publication of the Renewed Programme for Government in October 2009 I have taken a number of steps to improve the position for such homeowners.

In my Budget speech in December 2009 the Government refocused mortgage interest relief on those who bought their homes at the peak of the market, many of whom find themselves in negative equity. Where a homeowner's entitlement to mortgage interest relief would expire in 2010 or after, they will now continue to receive it up to the end of 2017. In addition at my request the Financial Regulator after consideration extended the moratorium on mortgage arrears from 6 months to 12 months for all mortgage lenders with effect from 17 February 2010.

The Deputy will also be aware that on 25 February 2010, I announced the establishment of the Mortgage Arrears and Personal Debt Expert Group (Group), under the chairmanship of Mr. Hugh Cooney an insolvency accountant. The Group was charged with making recommendations to me on options for improving the current situation for families with mortgage arrears on their principal private residence and with personal debt.

Since then the Group submitted an Interim Report to me in early July and their Final Report in mid November. Both reports can be accessed on the Department of Finance's website at www.finance.gov.ie .

The Reports when combined include key recommendations to address the issues of communication between householders in arrears and their lenders, and the need for a more consistent assessment process by lenders of borrowers in difficulty in the form of an industry-wide Mortgage Arrears Resolution Process (MARP) including a range of forbearance measures. A Deferred Interest Scheme is also recommended for borrowers who can pay at least 66% of the interest, giving them additional time to get back on their feet.

Now that the recommendations of the Group have been published and noted by the Government, the task now is for lenders and the Financial Regulator to work closely together to ensure they are implemented. This process is well underway. A revised Code of Conduct on Mortgage Arrears by the Central Bank has just been published, with my approval, which underpins many of the Group's recommendations.

I am confident that the steps that I have taken in keeping with Government's commitments under the Renewed Programme for Government together with the existing Government supports will improve the situation for homeowners in difficulty with mortgage arrears and personal debt.