Greece

Foreclosures in Greece

Almost unnoticed was in Greece at the end of last year, a law changed in favour of the banks. Of the 300,000 insolvent debtor could be your primary for lose. From Athens Andrea Kasiske.

Wednesday afternoon. Before the Athens district court to have a handful of people gathered. Between four and five o’clock will be here every week, flats and houses sold by compulsory auction. Today strike the lawyers and notaries, but “you never know”, says Alexandra Pavlou, often there would be strike breakers and the foreclosures would still take place. Alexandra Pavlou belongs to a group of activists working for a year to try these auctions in and outside of Athens to prevent. Successfully, because it is the entrance to the Verhandlungssaal to block. Succeeds three Times, the Bank must in the case of re-application. Today, there are two bidders, because, cool with black sunglasses and a leather jacket, type “Immobilienmafia”. You have to empty-handed things back off.

Fear, on the road to land

Since the end of last year was the so-called “Katseli law” changed. The was insolvent debtors a protection against the access of the banks. Now after 30 days as a “bad debtor”. And the banks can make faster and easier the people put on the road. An estimated 300,000 households could, in theory, your residence will lose. “This is only the beginning,” feared that Alexandra Pavlou. The debtors are entirely dependent on the good will of the banks.

Activists block the entrance to the court of Athens

The independent consumer advice Ekpizo it for months, mainly to debt advice around the Home. The volunteering lawyers have a lot to do. Giannis Marko is early forties, ten years ago, the IT technician is a loan of EUR 200,000 with forty years of runtime. At the time, earned the freelancers well. Now there are about 25 percent less, he has a family and the income of his wife is dropped. From his Bank, he made the call to get his financial Situation to portray. He wants the Ekpizo-experts to know what he can do. “Still, I have no real fear, perhaps unconsciously. All my life I learned, for my Get to work. I try to work even more, but I am absolutely at my limit.” And Giannis Marko is not an isolated case.

Banks are robbing people of sleep

“I am pleased that I am now in a different Department of Bank work,” says Giannis Milias. For years the young man has all the three days with delinquent borrowers called to them to remember their obligations, even if there is already negotiations were. The phone number of the Bank was changed on a regular basis, the debtor also changed their addresses. A cat-and-mouse game that he thoroughly had enough. “I tried to stay calm, if you have me yelled at, but I also know that people really were in despair, on the verge of were to kill themselves.”

Debt counseling EKPIZO, Athens

Four out of ten debtors can no longer pay. Theodore Krintas of Attica Bank sees the Problem, but thinks that many people do not know that you with your Bank also could negotiate. Extended maturities of loans, reduced payments and even a haircut were possible, he says. The banks had really no great interest in foreclosures, as the housing market is on the ground. “It makes no sense, the real estate to recover and then not be able to sell. But of course, I know that there is a great international interest in the real property.”

Panagiotis Goutos is a second Generation real estate agent. He has about 6,000 objects in the offer. In the sought after coastal area of Athens, but also elsewhere. Houses and fillets, such as Five-star Hotels. Still it sold quite well, mostly to foreigners or Greeks from abroad. He also makes the experience that customers are increasingly in distress and your home under price. He shows a flat, close to the Acropolis, since last year by almost 50 percent in the price has fallen. Not good business. The foreign interested parties were previously mainly to tourist objects interested in, but that could change. That would indeed prices again soar, but the foreclosures, and a growing Immobilienschwemme he looks skeptical. “This is not good, not good for anyone”, and so he says first of all, the Situation for his fellow countrymen.