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New rules on home foreclosures even without troika approval, says minister

Greece will pass legislation lifting a ban on home foreclosures even if it fails to reach an agreement with the troika on the content of the new law, Deputy Development Minister Thanasis Skordas said on Monday.

Speaking to Skai radio, Skordas said that even if Athens and the troika do not find common ground before the end of the year, a new law would be passed.

Currently, banks are forbidden from foreclosing on homes with a taxable value of less than 200,000 euros. However, this moratorium expires at the end of the year and the troika wants repossessions of some homes to begins as it believes that there are thousands of homeowners who have the ability to pay their mortgages but are hiding behind the current ban.

The deputy minister suggested that these cases may run to about 14,000. He denied reports that put the figure closer to 30,000.

Skordas insisted that any new framework would protect the primary residences of families that have genuine difficulties paying their housing loans.

ekathimerini.com , Monday December 9, 2013 (11:49)  
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