Lifting the auctions for 7,000 properties seized until 2008

The Greek government placed the protection of the primary residence of the economically weak as a red line on the issue of auctions.

As Samaras said "the primary residence of the socially weak citizens and those who have proven that due to the crisis cannot serve their loans will be protected absolutely. The government is considering regulations that will ensure the protection of the weak, will not allow abusive behavior and protect the mortgage lending for the benefit of all Greeks."

The changes that are coming or being studied, according to Ethnos newspaper are:

From January 2014 there will be an end in the horizontal prohibition of auctions for properties of up to 200,000 euros. The Greek government expects to locate borrowers who have 3 or 4 properties and high incomes but do not pay as they are being protected by the ban.

It is estimated that the auctions will be about 7,000 properties seized in 2008 of commercial or other use besides that of a primary residence.

Officials will also review the amendment that will protect the primary or only residence, regardless of the amount of the debt, the status of the debtor and the creditor. The precondition is the assessed value of the property does not exceed the tax-free threshold for a primary residence (200,000 euros), increased by 50%.

Another criterion that is being studied is the amount of the loan. There will be a different attitude towards one that owes 80% of the loan and someone else who has repaid this amount.

The Greek government will also try to protect the primary residence of the unemployed and large families, while in September they will introduce the term "collaborative borrower" and "necessary living expenses" which will determine the loan arrangements to facilitate those who have proven that cannot be consistent in repaying their loans.