Freeze on property foreclosures extended

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Freeze on property foreclosures extended
 © CyprusPropertyNews 2022
Cyprus parliament have voted to extend the freeze on property foreclosures to the end of October despite pleas from the government and financial institutions to allow the homes of defaulting borrowers to be repossessed.

Elizabeth McCaul, Member of the Supervisory Board of the ECB , advised caution over amendments to the foreclosures law stressing that “such policies can also backfire and destabilise the banking sector if designed in a haphazard manner.”

Ratings agency Moody’s warned on that the amendments approved by the Cyprus parliament to the legal framework governing foreclosures were...

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Article automatically added to our system on Sunday, July 24, 2022

Freeze on property foreclosures extended

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Article Tags: #freeze   #property   #foreclosures   #extended  

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