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Up to 2000 unsustainable borrowers – The 3 categories

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Up to 2000 unsustainable borrowers - The 3 categories

The number of unsustainable borrowers can reach up to 2 thousand, who, even if they were included in the Home 1 Plan, would not be able to pay their installments.

These borrowers will be able to join Scheme 2 Plan, prepared by the Ministry of Finance, so that they have another opportunity to save their home. So far, of the 5,126 borrowers who applied for the Estia 1 Plan, 543, with a home worth up to € 350 thousand, were deemed unsustainable. There are government estimates that, when the control of all applications is completed by the competent ministry, the number of specific borrowers will quadruple. However, the Ministry of Finance will divide non-viable borrowers into three categories, depending on their financial profile.

The policies that the government will implement, with which the unsustainable borrowers will protect their homes, are:

Borrowers will become viable with greater debt relief from banks. In particular, a larger loan will be written off by the bank.

Borrowers will become viable after greater impairment by banks and increased contribution from the state.

Borrowers with very low incomes, for whom a much larger contribution from the state will be needed.

Yesterday, Finance Minister Konstantinos Petridis assured that no unsustainable borrower is going to lose his home. He noted, at the same time, that when all the data are available, the ministry will announce all the provisions of the Home 2 Plan.

As for the bill on state guarantees, within days the Ministry of Finance is expected to forward to the leaders of the parties a letter with the government plans. State guarantees are expected to be reduced to € 1 billion from the $ 2 billion provided by the withdrawn bill. The Minister of Finance stated that he is at the disposal of the parties. This bill will help boost the liquidity of businesses and individuals through cheap state-guaranteed lending.

In the meantime, in connection with giving the borrowers the opportunity to repurchase their loan from the bank at a predetermined price, this, as the minister said, will be an incentive for borrowers to stop paying their loans.

Source: www.philenews.com

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