People facing repossession of their homes may able to rent them from the State having lost ownership of the property, under radical new proposals.
RTÉ News has learned details of radical new measures under consideration by the Government to help tackle the housing-debt crisis.
As part of the measures, people who face repossession may be able to rent their homes after they have lost ownership of the properties.
Consideration is also being given to measures allowing people who are already in negative equity to trade up if they can sustain a larger debt.
A Government committee, chaired by the Department of Finance, is working on measures to deal with mortgage debt.
The committee is considering using the social housing machinery of the State to help. This could allow people stay in their homes after the houses or apartments were repossessed.
As they would no longer own the properties, they then would rent them, possibly from the State.
Another issue under consideration are steps to help people, who are in negative equity, but who wish to move home.
Under this option, people who sell a house or apartment and owe the lender money would be able to take out a second mortgage. That would only happen if they could sustain the full amount of debt.
This would allow people who, until now have not been able to trade up, to buy a new home. However, they would be in negative equity from the moment they purchase.
The committee is due to announce final measures at the end of September.
