Auction protest helps pensioner keep home

A pensioner who could not keep up his mortgage payments was poised to have his 52-square meter apartment repossessed at the start of the day, but ended yesterday in much better shape after his bank decided to waive all outstanding payments. Nikos Theocharidis was due to see his apartment in Patissia auctioned off yesterday after his overdue debt to Marfin Bank had risen to 1,850 euros. But the auction did not take place due to a protest by several groups, including leftist organizations and the Union for Borrowers Protection. This prompted Marfin to give Theocharidis a reprieve. Coalition of the Radical Left (SYRIZA) MP Panayiotis Lafazanis hailed the cancellation of the auction as a «huge success.» A law due to be passed today seeks to prevent banks from auctioning off properties if the owner owes less than 20,000 euros.

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