By Chrysostomos Tsoufis

His recent decision Supreme Court which validated the ability of loan managers to conduct auctions put the issue very high on the list of those around which ND-SYRIZA are fighting every day.

Her details anyway TtE which he invoked speaking to SKAI and o Christos Staikouras they describe a problem of a much smaller extent than that presented by SYRIZA and part of the press.

Figures say that around 600,000 properties are linked to Red loans which are managed by the so-called servicers. Of these, half – i.e. 300,000, are business premises, industrial buildings, warehouses and parking spaces. Of the remaining 300,000, 80% have been settled bilaterally after a debtor-creditor agreement, i.e. around 240,000. And according to SKAI information, only 17% of the remaining 60,000 are first homes at risk of auctioning.

Of course, all this does not mean that there is no problem. And if one was in danger of losing his house, it would be a problem. However, as long as the debtor does not refuse to cooperate with the funds and is indeed in a position of weakness, he has nothing to fear, they told us. banking sources.

Lines of defense that inhibit auction processes for the vulnerable exist:

INTERMEDIATE PROGRAM. As long as the debtor meets the income and asset criteria of the vulnerable (€7,000 for a one-person household plus €3,500 for each household member up to €21,000 and property value up to €120,000 for a single-person household plus €15,000 for each household member up to €180,000) submit an application and once it is approved, the State subsidizes the installment with €70-210 per month for 15 months. According to the Ministry of Finance, 17,000 borrowers have joined the program so far.
The interim program essentially acts as a bridge until the new Real Estate Acquisition and Leasing Agency is fully operational. Debtors who will not be able to serve long-term arrangements will appeal to the body that will be formed 2nd chance. The property will pass to the operator but the debtor will maintain possession and use for 12 years paying rent, after which if his finances have improved he will repurchase the property.

CONTINUOUS BORROWER SUPPORT PROGRAM. Same income and property criteria, but the difference here is that the beneficiaries are vulnerable, but her loans have not gone red. The banks will undertake to cover for 12 months 50% of the additional costs that have arisen from the repeated interest rate increases that the ECB has undertaken. The first subsidies are expected in April and so far the applications exceed 20,000

EXTRAJUDICIAL MECHANISM. It concerns debts over €10,000 and regulates overall debts to banks and the State. Even informed debtors can adjust the number of installments and their amount is determined by an algorithm. According to the predictions of the tool, the installments can reach up to 420, while in exceptional cases a debt reduction of up to 90% is foreseen. So far, approximately 3,600 debtors have benefited, a low number that is not only due to the flaws of the mechanism but mainly to the fact that the majority of those interested do not consent to the lifting of bank secrecy. However, in order to increase and speed up the regulations, the Ministry of Finance is bringing to the Parliament on Tuesday an amendment with changes that, among other things, significantly reduce the interest rate and give the possibility of inclusion to those who have debts exclusively to banks or funds.
Approximately 590,000 debtors, however, have been in direct contact with the funds and have settled their debts totaling €27 billion