Complaints that foreclosure procedures are ongoing, despite public assurances by the banks
Statement AKEL C.C. Spokesperson Stefanos Stefanou on foreclosures
Government/Central Bank must take measures to protect borrowers from foreclosures
AKEL C.C. Press Office, 13th April 2020, Nicosia
We have constantly been receiving complaints from citizens that the procedures for foreclosures are ongoing, despite public assurances from the banks that they are suspending foreclosures for three months.
More specifically, there are complaints that the sending of letters I, Ia, etc. is continuing. Complaints have also been made about biddings for properties that were not sold at auctions, while the possibility for the banks to buy real estate remains.
All these processes, which, according to the complaints made, are continuing, create fait accompli that in essence annul the public assurances made by the banks that they have suspended procedures for foreclosures.
We call on the Ministry of Finance and the Central Bank to take measures to protect borrowers from foreclosures, otherwise AKEL will activate the draft Bill for the suspension of foreclosures during the period of the crisis we are going through.
