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According to the Minister of Finance, this new arrangement includes social protection measures, so that citizens can actually save their first home.
Specifically, according to Mr. Staikouras, a new out-of-court procedure for households, in contrast to the Katselis Law, which forced them to go to court and wait up to 12 years to find a solution to their problem.
“With the new extrajudicial mechanism, citizens can now pay off their debts, with the banks and the State, in up to 240 installments, double the 120 installments legislated by the previous government.” Mr. Staikouras underlined in his reply.
In this way, according to the competent minister, in many cases, the monthly payment that debtors must pay will be reduced by half.
At the same time, it will provide the 1st mortgage loan subsidy to vulnerable financial households, supporting their effort to be consistent with their obligations.
However, if a household is completely financially weak and cannot meet any arrangements, it will be possible to get rid of all its debts.
“We even make sure that your house is bought by an agency and given to you, so that it stays in it. Thus, the vulnerable will not leave their home. And if the vulnerable home recovers financially in the future, you have a unique opportunity to buy back your home. “With this Law, we give households and companies a real and substantial second chance,” concludes the Minister of Finance.
Regarding the suspension of auctions for financially vulnerable groups, the Minister of Finance indicated that it is already being provided by banks and credit administrators, at the end of the year and added that for this to happen, cooperation was counted on between the Government and the financial institutions.
In addition, the Government legislated the suspension for one year of auctions and seizures of movable or immovable property of natural or legal persons in the areas affected by – IANO -.
“With the previous measures and the BRIDGE program, the Government supports citizens in a practical way, in these extremely difficult conditions.” supported Mr. Staikouras.
