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Big “encouragement” for borrowers: what the ad says
Banks temporarily suspend first home auctions for vulnerable borrowers.
According to the announcement of the Hellenic Banking Association:
“EET member banks, in keeping with their commitment to supporting the Greek economy in the midst of COVID 19, have carried out extensive extensions of liabilities for a significant number of borrowers until now and until the end of 2020.
At the same time, banks support the inclusion of borrowers, who have given their first home as collateral for their loan agreement, in the BRIDGE program of law 4714/2020 and encourage beneficiaries to submit the corresponding application.
In this context, the banks also announce that they will consider a request to suspend auctions relating to the first home, until 12.31.2020, for those borrowers who belong to the vulnerable category, as defined in ΥΑ Δ13οικ 10747 / 256/2019 (especially Article 4 thereof).
A condition for the above suspension is the presentation of a relevant request by the vulnerable borrower to the bank and the declaration of lifting of bank secrecy, in order to establish that it belongs to the vulnerable category.
When the criteria to designate the borrower as vulnerable are not met, the auction procedures will proceed normally. “
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