Cyprus Property News for home buyers & real estate investors in Cyprus

4th December 2021
Cyprus Property News logo
HomeTagsForeclosure

Tag: foreclosure

Bank foreclosure: outline of the legal framework

The procedure by which banks in Cyprus foreclose on property is often confusing and the law misinterpreted; Christiana Achilleos, a Senior Litigation Lawyer, provides an outline of the legal framework.

Moody’s warns foreclosure law bad for banks

Moody’s rating agency has warned that changes to the foreclosure law will lengthen the time it takes for banks to foreclose on properties making it more difficult to reduce their NPLs.

Banks buying properties failing to sell at auctions

The banks have bought nearly 650 properties that failed to sell at the first round of auctions since the start of 2018 according to information submitted to parliament by the Cyprus Central Bank.

Flood of foreclosure letters

Phileleftheros reports that during the second quarter of 2018 banks sent almost double the number of letters warning borrowers that they intend to foreclose compared to the first quarter.

Most Popular