Greece’s finance ministry will reportedly drafting a provision extending legal protection against foreclosures of primary residences in the country belonging to “at risk” households, a measure shielding borrowers from creditors, mostly mortgage holders, at least until June 30, 2021.
According to ministry sources on Friday, government is working on an «interim solution» in cooperation with systemic banks and distress funds, whereby legal protection for primary residences will be extended – for a month – until the establishment of a so-called real estate management entity.
Borrowers interested in the specific legal protection must submit income tax and property tax statements to request eligibility.
Along those same lines, heightened interest has been shown by households to be included in an out-of-court arbitration process to restructure debts.
Nearly 8,000 taxpayers have so far begun the application process on a relevant online platform.
