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All reports tagged with: "foreclosure"

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.

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.

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.

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