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All reports tagged with: "foreclosure"

The property circus show

Why do Cypriots believe that their property should not be seized if they fail to honour their loan repayments and why would any responsible government even give 10 seconds’ thought to such lunacy?

Foreclosure bill bunfight continues

The debate in the Cyprus parliament on the controversial foreclosure bill continues with opposition parties refusing to support the bill in its present form and calling for a series of amendments.

Foreclosures bill in the balance

The future of the foreclosures bill, which has to be passed before Cyprus receives the next tranche of the island’s bailout, hangs in the balance as ministers continue discussions with political parties.

Foreclosure bill protects primary residences

The cabinet has approved amendments to the draft foreclosures bill that protects primary homes from repossession if the owner can prove lack of income or any other asset, thereby safeguarding low-income families.

Cyprus making relatively good progress

Although Cyprus is making relatively good progress following the bailout, Troika officials have warned that the repossessions bill has to be approved by January 2015 before new aid is disbursed.

Primary residence protection bill on hold

The House Legal Affairs Committee has decided to put the controversial primary residence protection bill on hold and it will probably not be discussed at a plenary session of the House on Thursday.

Sparks set to fly over primary residence protection bill

Sparks are expected to fly in the House on Monday when MPs will discuss a draft bill designed to protect primary residences from foreclosure, which MPs want to send to the plenum on Thursday.

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.

Primary residence protection bill by end-March

A bill designed to protect families’ primary residences and premises of small businesses with a turnover up to 2 million Euros and employing up to 10 staff from seizure should be ready by end of this month.

Six thousand foreclosure requests filed at land registry

Six thousand foreclosure requests filed by banks at land registry offices across Cyprus remain pending and are not expected to proceed soon due to the land registry offices heavy workload.

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