Government to freeze first home foreclosures for debt to the State until at least the end of 2017

The government will freeze first home foreclosures for debt to the State until at least the end of 2017.

More specifically, it will table an amendment in Parliament that will harmonise the legislation on home foreclosures for debts to the State with what is provided for debt to banks, which protect first homes based on certain income and other criteria.

The government plan will be based on the regulations for debt to banks.

These regulations provide for the protection of first homes whose objective value is up to 180,000 euros for singles and married, and the amount is increased by 20,000 euros for each child up to the third one. It also provides for the protection of single ones with income up to 13,900 euros and married ones with income up to 23,600 euros with the amount increased by 5,700 euros for families up to three children.

Meanwhile, the Hellenic Notary Association announced that it would not proceed with any foreclosures on Wednesday, October 12.