Forestalling foreclosures: criteria
- Written by E.Tsiliopoulos
The government has tabled four criteria in order for households in the red to avoid mortgage foreclosures to be included in the foreclosure bill that will be tendered Thursday.
The transitional regulation, which met with IMF approval, foresees that foreclosures will be forestalled if all of the criteria are met.
These include that the value of the primary home does not exceed 200,000 euros, family income after deductions and taxes of less than 35,000 euros, total property value of less than 270,000 euros, and a minimum monthly payment at a sum set depending on earnings.
The bill that will reach parliament on Thursday, is expected to be voted in on Saturday. It is transitional in nature and will be replaced for 2015 with permanent legislation on mortgage foreclosures.
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