Dessie Ellis TD described the Bill as conservative in terms of the overall package of measures required to deal with home repossessions, negative equity and arrears.
Speaking in the Dáil Deputy Ellis said: "Sinn Féin welcomes this Family Home Protection Bill and we commend Deputy Stephen Donnelly for introducing it.
"The Bill itself is a conservative measure in terms of the overall package of mechanisms that are needed to address the problem of not only home repossessions, but arrears in general, and negative equity. If enacted it would allow a judge the authority to consider a range of factors when a lender is seeking repossession of a family home."
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170,000 people are in mortgage arrears of 90 days or more. That is 8.1% of every mortgage. That represents an almost 60% increase in two years.
"It is a scandal that this Government could go in and fight an election campaign, telling people that they would help them, and then almost a year later have done very little, aside from publishing one very long overdue scheme of a Personal Insolvency Bill.
"Even some of the moderate proposals of the Expert Group on Mortgage Arrears remain to be implemented, despite the growing numbers of arrears cases. One simple initiative that could be introduced tomorrow if the Government had the political will to do it, would be to ensure that assessment of housing need should not have to wait for legal proceedings for repossession to be brought against the borrower where a mortgage is clearly unsustainable. Furthermore, a mortgage to rent scheme could be introduced.
"Myself and my colleagues in Sinn Féin have been saying for years that the State's social housing policy was completely flawed. I remember back in 2006, Arthur Morgan who was then TD for Louth speaking about how the State needed to address issues within housing policy and have plan to address negative equity – despite the fact house prices were still rocketing at this stage. The establishment parties said we were mad – and now look where we are."
(CD/DW)
