24,200 Homes Offered For Troubled Borrowers In Hungary
- 19 Jan 2015 8:00 AM
More than 24,200 homes have been offered by borrowers for purchase by the state under the government’s NET assistance programme for troubled borrowers by the end of 2014, the National Asset Management Agency (NET) said. Of the homes offered, NET bought 13,927 properties. It refused 1,700 applications, mainly because they did not meet the legal requirements.
Under the programme, NET is buying up to 25,000 foreclosed properties designated by banks and allows the borrowers to continue to reside in their homes as tenants.
The former owners can buy their homes within five years. NET paid on average 3.7 million forints (EUR 11,530) for the homes it bought, somewhat less than half of their average 7.9 million forint market value at the time the mortgages were signed.
Net said most of the homes had been offered in the north-eastern part of the country.
Source www.hungarymatters.hu
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