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All reports tagged with: "primary residences"

Primary residences protection scheme falls flat

The government backed primary residences protection bill designed to protect an estimated 200 crisis-stricken homeowners against foreclosure has failed MPs heard on Monday.

Primary residences protection scheme

The Cyprus Land Development Corporation has been allocated €2 million to protect primary residences by helping borrowers deemed to be insolvent by the Financial Ombudsman’s office to make repayments on their housing loans.

No repossession of paid for properties

The troika have advised the government that properties that have been paid for but no Title Deeds have been issued could be exempted from repossession under the provisions of the controversial foreclosures bill.

Mortgage-to-rent scheme will be selective

Strict criteria will be applied to a mortgage-to-rent scheme currently being investigated as a means to enable those unable to maintain their mortgage repayments to remain in their homes rather than face its repossession.

State should buy non-performing loans say experts

In efforts to protect primary residence from repossession without bringing more trouble on the banking system, a senior government adviser said the state should buy non-performing loans.

Concerns raised over home repossessions

As the debt crisis continues and property developers fold, some 6,000 cases are pending with the land registry relating to non-performing loans and properties held as collateral and subject to repossession.

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