Repossession

A hidden added tax could skyrocket the state debts of thousands of taxpayers to new heights. The new added tax was revealed in the new 100-tranche payment plan to insurance funds.

By Dimitra Manifava

The Development Ministry appears unwilling to grant another extension to the implementation of a law protecting primary residences from repossession by banks over unpaid debts, as it believes that the legal framework dating from 2010 is sufficient to protect homeowners in financial difficulties.

Cyprus said on Tuesday it hopes to re-establish a flow of aid from international lenders after some issues were resolved in a disputed foreclosures bill that lenders demanded for funds to be released.

Turkey’s social security body will make the payment for a prosthetic leg purchased by a veteran soldier, who had hit headlines after it was revealed that he was facing repossession of his property for failing to repay a loan he took out for the new prosthesis.

A veteran soldier who lost a leg in a terrorist attack is now facing repossession of his property for failing to repay a loan he took out for a new prosthetic leg.

The Cypriot parliament will vote Saturday on a controversial bill to streamline bank foreclosures of bad debts, Finance Committee chairman Nicolas Papadopoulos said, amid fears some people could lose their homes.

By Evgenia Tzortzi

Data seen by Kathimerini concerning the course of home repossessions over the last five years show a 63 percent reduction, thanks to the protection of property by regulations regarding not only main residences but households’ assets as a whole.