By E. Sakellari
[email protected]
A draft bill containing the details of a legal framework to protect homeowners’ primary residences in Greece from creditors is expected to be submitted on March 6, with the previous framework – the “Katselis law” – expiring on Thursday.
According to reports in Athens this week, the new framework, expected to be ratified by Parliament in the first half of March, will have a retroactive effect as of March 1, 2019.
After extensive deliberations over the recent period between the Tsipras government and Greece’s four systemic banks, as well as between Athens and European creditors, the new framework is expected to foreseen a one-year protection period for over-indebted homeowners whose mortgages on primary residences are overdue. A five-year period is envisioned for “sensitive” groups, such as registered unemployed, the disabled etc.
Additionally, applicants under the previous framework with a specific court date will have to re-apply on an electronic platform that will replace the courts.
