Home repossessions in Greece to resume - notaries


Greece's notaries decided Wednesday to resume the forced auctions of higher value properties after having frozen all repossessions in the last six months due to violent protests.

Protesters, mainly from left wing groups, have been preventing repossessions held on behalf of the government and banks by storming courtrooms where the process is being held and threatening notaries and court officials.

Since October, notaries refused to execute repossession orders, citing safety concerns, but have changed their mind saying that strategic defaulters are taking advantage of this.

In a statement, a national notaries committee said that its abstention gave some time to home owners who are genuinely in financial strife to avoid losing their home but at the same paved the way for strategic defaulters, those that have the money to repay debts but refuse to do so.

"This is hugely unfair on those meeting their obligations to the state, pension funds, local councils, banks and private creditors," it said in a statement.

Forced sales relating to properties that have been valued at 400,000 euros or more, will be resumed, the statement added.

#repossessions #forcedauctions #banks #courts

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