Gov’t happy as MPs pass foreclosure bills

President Nikos Christodoulides expressed satisfaction with the passage of a set of bills on foreclosures on Friday, underscoring a commitment to expedite proceedings addressing risks to the country’s economy from non-performing exposures.


Banks extend foreclosure freeze

Banks and credit buyout companies are likely to extend the freeze on foreclosures of primary homes valued up to €350,000, as they have accepted the Ministry of Finance’s call in principle. Online

Foreclosure saga gets ugly

The foreclosure row rumbles on as the latest episode in the saga played out when parliament voted against two non-government bills regarding the rights of borrowers defaulting on their mortgage. At the


Foreclosure row rumbles on

Finance Minister Makis Keravnos will present to legislators on Monday a government package of seven proposals to address the issue of foreclosures to block a bill that gives borrowers rights to appeal decisions.


Foreclosure freeze row gets ugly

Under the fear of an increase in Non-Performing Loans, as the European Central Bank continues to push interest rates up, a heated debate is brewing over the right of defaulted borrowers to


President agrees to foreclosure law extension

President Nicos Anastasiades on Thursday signed the foreclosures law extension until January, despite the government’s previous insistence on defrosting it. In an unexpected move, the President signed the law he had referred

Government unhappy over foreclosure freeze extension

Finance Minister Constantinos Petrides expressed the government’s disappointment at parliament’s decision to freeze property foreclosures until the end of October, despite repeated warnings. On Thursday, MPs amended laws governing the transfer and