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Monday Newspaper Review - Irish Business News and International ...
The Irish Independent reports that the National Consumer Agency (NCA) is to be based in Cork, as the Government tries to ensure that new agencies are located outside the capital.
It is understood that the OPW will be seeking a premises in the city for the offices of the new body and its 80 staff. Heads of Bill are due to be published in August, giving the body statutory powers.
The legislation is expected to be enacted in the autumn, clearing the way for its establishment in early 2007.
The chairman of the agency is Ann Fitzgerald, and at present the NCA is working on an interim basis. Its high-profile interim board members include Eddie Hobbs and Taoiseach Bertie Ahern's former partner Celia Larkin.
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The agency will replace the existing Director of Consumer Affairs and will have extended powers.
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Suicide Loans: Piggyback Mortgages Default by up to 50 Percent
Non-traditional mortgages put homeowners at risk of losing their homes, says consumer group
RISMEDIA, July 20, 2006"This is precisely what I have been warning the public about. It's the first sign of the tsunami of defaults and foreclosures that are coming," cautions Consumer Advocate and International Mortgage Reduction Expert, Harj Gill.
Gill, who is also the Founder, President and CEO of American Mortgage Educators, Inc., has been on a one-man crusade warning homeowners of the risks associated with exotic mortgages and urging them to take immediate action to avoid going into default.
According to Gill, piggyback mortgages, which are a combination of two loans packaged together and closed simultaneously, represent just one of many non-traditional mortgages that have put homeowners at risk of losing their homes.