Tsipras: Home foreclosures a ‘bomb’ under society’s foundations

“There is a risk that red loans will fall into the hands of speculators abroad, where there is no room for negotiation,” Tsipras said about owners who cannot meet financial obligations and are in danger of losing their homes, adding that the issue of home foreclosures needs an immediate and clear solution.

The main opposition party, he said, proposes firstly the extension of the period of suspension of foreclosures leading to home auctions until December 31, 2014 and, secondly, the prohibition of the direct or indirect transfer of loans between Greek citizens or permanent residents of Greece and banking or financial institutions legally operating in Greece to third parties.

Source: AMNA