Irish Mortgage Company Won’t Auction Repossessed Homes

The Irish Mortgage Holders Organisation (IMRO), an association set up in 2012 to help mortgage holders in arrears, has signed an agreement with Allsops Space, the auctioneers, under which Allsops will no longer auction off repossessed family homes. The move might be construed as a setback for banks as they swoop on mortgage defaulters following new government legislation to make repossessions easier, but it could be a short-lived victory for mortgage holders. Irish Mortgage Holders agreement The agreement comes after an Allsops auction in June was halted as a result of protests against the sale of repossessed homes. Irish Mortgage Holders…