When you have to pay interest on it. That's at the root of the so-called "Covid penalty" which is being imposed on those who took a break from their mortgage repayments because of the pandemic. Thousands who were suddenly out of work availed of it because they could no longer afford to pay their mortgages. Now they realise they have added significant amounts to their debts because of the interest due on those missing payments. Otherwise the predictable response of the public will be that the bailed-out banks are at it again.

Source: Irish Independent July 10, 2020 01:30 UTC