- Cyprus Property News Magazine - http://www.news.cyprus-property-buyers.com -

Reprieve for couple in danger of losing their home

TWO RETIRED charity workers who faced eviction at the weekend have won a reprieve after nobody turned up to the repossessions auction of their home on Sunday.

Ken and Mary Hudson, both 72, were on the brink of homelessness because the former owner had sold them the flat in Larnaca while he had an outstanding mortgage, which meant the bank retained the Title Deeds.

When the former owner, who formerly ran a kiosk in Larnaca, stopped making payments the bank informed the Hudsons their home would be repossessed.

Had a buyer arrived at Sunday’s auction, the Hudsons would either have been evicted or be forced to reach an agreement with the new owner – despite paying £24,000 Cypriot pounds (€41,200) eight years ago, and being informed by a notary that the property was theirs.

Mary Hudson said yesterday, “We went up to the cafe where the auction was being held – It was full of men playing cards and smoking under the no-smoking signs. We waited for about half an hour but no one turned up.

After about an hour, Mary said, the auctioneer informed them that he would write a report to say there were no bidders, which would be sent to the bank.

For now we are safe at home, but nothing has changed legally.

The no-show means the Hudsons are in legal limbo, with the prospect of eviction with the sale the property looming. However, in practice, this process could now take up to two years, while the case waits to be re-examined. “The auctioneer said it might be a couple of years before the bank looks at it again.

Asked about their next steps, Mary said that they would write to the Interior Ministry, requesting that they change the law to allow banks to retrieve money from the mortgage payers, rather than from sale of the property to a new owner.

People have tried to change the law before. If the government did (change the law) it would make a huge difference. It could revolutionise the whole (property) thing.

Before they do anything else, however, the Hudsons will take a holiday in the mountains to rest after the ordeal.

We’re going to stay in a friend’s house in the mountains and sleep I think.