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All reports tagged with: "repossession"

Primary residence protection scheme

The Cyprus Land Development Organisation is to manage a scheme aimed at protecting the primary residence or the business premises of small debtors from repossession by the banks.

Home repossession ban extended

Parliament passed a bill by the slimmest of majorities to extend the ban on repossessing homes whose purchasers have no Title Deeds even though they may have paid for them in full.

Supreme Court focuses on foreclosures

The Cyprus Supreme Court plenary will meet on Tuesday to examine whether four of the bills passed by MPs regarding foreclosures and repossession are in conflict with the island’s Constitution.

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.

Cypriots are not fools

The government’s attempt to enforce a bad law may turn out to be the straw that broke the camel’s back. Cypriots are not fools and certainly can no longer be fooled by politicians again

Banks to target big borrowers first

Banks in Cyprus will not foreclose on homes belonging to vulnerable groups, the bank association said on Monday, as it sought to allay concerns ahead of a vote on a foreclosures bill at the end of this week.

Lawsuits filed against banks

SYMEA, a trade union established earlier this year intends to block the repossession of mortgaged properties by taking local banking institutions to court according to its president Andreas Alambritis.

Land registry’s hands tied on foreclosures

Property foreclosures have already begun but the land registry’s deputy director was unable to confirm whether they relate to primary residences as precisely what constitutes a primary residence is unclear.

Property highlights all that is wrong

For years, our administration and banks have cleverly created a captive audience, holding householders to ransom by refusing to issue title deeds. Oh yes, there is method in this title deed madness!

Homeowners need protection from troika proposals

Troika’s proposal to accelerate loan recovery by the banks could spell disaster for many home buyers; they could lose their homes within 18 months even though they may have paid for them in full.

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