Banks warn suspending foreclosures could so more harm than good

Click For Larger Image & Read More
Banks warn suspending foreclosures could so...
 © CyprusMail 2020
Banks have warned that suspending foreclosures would do more harm than good as opposition parties were poised to do just that, tabling five bills citing the fallout from the pandemic.

Lenders said the auctions scheduled for this year concern debts, which were non-performing long before the pandemic and before the end of 2019.

Almost all have been decided in court and have been terminated in 1991, 1992, and 1998, banks said.

The auctions in question concern fields, building plots, commercial real estate, holiday homes, villas and uninhabited dwellings slated for demolition.

The issue is...


Read all latest: Cyprus Coronavirus News Updates - Live

This article was automatically added to our system 19-10-2020

Banks warn suspending foreclosures could so more harm than good


The contents of this article including any associated images are © CyprusMail 2020
Views & opinions expressed in this article are those of the author and/or CyprusMail .

Advertise Here

  Trending Cyprus News

Advertise Here

Article Tags: banks, suspending, foreclosures, could,