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Tag Archives: borrowers

Government and banks strike deal on protection of “main residence”

The Greek government and representatives of the country’s four systemic banks have finally agreed on the issue of debtors and the protection of the ‘first residence’. After weeks of negotiations, the government and the banks agreed on the framework that will protect the first residence of defaulting borrowers. The criteria …

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Breath for Borrowers: Home auction-stop extended until end of 2013

A breath for thousands of borrowers as Greek government decided to extend the auctions ban for one more year. With a legislative act the Ministry of Development suspends auctions for the so-called “first housing” until December 31, 2013.  The legislative act prohibits banks from conducting auctions for unpaid mortgage loans if the home …

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50K Greeks Borrowers Celebrate New Swiss Franc Exchange Rate

More than 50,000 Greeks took a breath of relief upon the news that the Swiss National Bank (SNB) decided to peg the Swiss Franc (CHF) to the euro. The 50,000 Greeks are borrowers who got their loans – most for real estate purchases – on Swiss Franc and not in …

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