The electronic platform for protecting primary residences from foreclosure went online on Monday, July 1, according to ANA.
According to the Special Secretary for Managing Private Debt Fotis Kourmousis, 180,000 homes can qualify for protection using the electronic platform, which can also give applicants information about a state subsidy that can reach up to 50 pct of the monthly installments. Inclusion in the measure is means-tested, for both property assets and income: the tax-office valuation of the property being protected cannot exceed 250,000 euros and annual income must be less than 36,000 euros.
Roughly one month after an application is submitted through the platform, the banks that hold the loans will propose a favorable debt settlement scheme. The applicants will then have one month to decide whether they wish to take advantage of this offer. Once a contract is signed, the process for paying state subsidies of the monthly installments will begin, with the payment starting within one month and lasting up to 25 years.
Information on eligibility criteria and special categories can be found at the website: (http://www.keyd.gov.gr/iframe_page/)/.
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