In this episode, Niall is asking, is repossessing homes a necessary evil? The discussion comes from an emotional email sent in by a listener, Dolores, whose family is facing the devastating reality of losing their home after falling behind on mortgage payments.

Dolores and her husband bought their home 12 years ago, stretching their finances to provide stability for their children. But when her husband lost his job during the pandemic, they struggled to keep up with repayments. Even though he is now working again and they are doing everything they can to catch up, the debt remains. Now, they have received a letter from the bank initiating repossession proceedings.

Dolores is asking, is it fair that families in temporary financial distress can lose everything? Should banks be doing more to help those who fall on hard times, or is repossession simply a harsh but necessary reality?

Some callers believe repossessions are sometimes necessary. Banks are not charities, and they have their own financial obligations. While repossession is harsh, it is usually a last resort and essential for the system to function. If homeowners cannot pay their mortgages, the banks have no choice but to take action to avoid financial instability.

Other callers strongly disagree, arguing that banks should show more flexibility, especially in cases like Dolores’, where a family is trying to recover from circumstances beyond their control. They say repossession destroys lives and that banks and the government should do more to protect homeowners from losing everything when they are willing to make an effort to repay.