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All reports tagged with: "foreclosures law"

Compromise foreclosures bill passed by MPs

MPs have accepted the presidential veto on changes to the foreclosures law and agreed a compromise proposal to protect vulnerable borrowers enabling them to seek recourse through the financial ombudsman.

Blunt warning on foreclosures law changes

Adjustments to the law on foreclosures could have “significant negative impact” on the Cyprus banking system warns the European Central Bank (ECB) in an email to the Central Bank governor.

MPs say no to foreclosures veto

Cyprus MPs have voted to reject President Nicos Anastasiades’ veto on changes to the foreclosures legislation designed to freeze repossessions of primary residences until October.

Delay vote on foreclosure law changes MPs urged

The Finance Minister and the banking industry have urged MPs to delay voting on changes to foreclosure law at least until we have a picture on whether the Estia debt relief scheme delivers.

Possible foreclosures law changes worry banks

Banks have expressed concerns over possible changes to the foreclosures law as they fear appeals could be stuck in the island’s slow courts for many years negatively impacting their business.

Discussion on old mortgages bill postponed

Discussions on the bill seeking to exempt pre-2014 mortgages from the foreclosure laws have been postponed by the house finance committee while it waits for the bills related to the issue of non-performing loans (NPLs).

Bill to exempt old mortgages from foreclosure

Officials from the government and the Cyprus Central Bank have warned that a bill seeking to exempt pre-2014 mortgages from the foreclosure laws would wreak havoc on banks’ balance sheets.

Bankers against massive foreclosures

The main objective of the recent law of foreclosures is to bring clients to the negotiating table to restructure their loans according to senior bankers speaking at a round table discussion on Tuesday.

Property sales continue upward trend

Property sales in Cyprus during April recorded an increase of 23 per cent over the number sold in April 2014 according to the latest official statistics from the Department of Lands & Surveys.

Title deeds saga likely to be kicked down the road

The fate of the title deeds law which the President refused to sign will be decided by the plenum on Friday, although it seems likely that MPs will kick the can further down the road again.

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