ECONOMY

Over 19,000 indebted homeowners seek protection from foreclosure

over-19-000-indebted-homeowners-seek-protection-from-foreclosure

More than 19,000 applications have been submitted by indebted homeowners seeking to protect their property from being seized since the new system went online 11 weeks ago.

According to the Special Secretariat for Private Debt Management, 19,149 users started the process to have their primary residence protected from foreclosure over debts to the state or to banks from July 1, when the new program began, to September 15.

Of the 19,149 applications, 40 have moved ahead to the step of being submitted to the relevant banks, the agency's figures show.

Furthermore, over 28,400 users have logged onto the platform and agreed to waive confidentiality for their tax and bank accounts.