Foreclosures: Confusion Following Hadjipantelas Intervention
Confusion has arisen, even in banking circles, regarding protection of primary residences following an intervention by EU Member Michalis Hadjipantelas with the Cyprus Banking Association. Although Hadjipantelas reported a "positive response" from banks, nothing has changed in practice for borrowers. The lack of concretization of the purported bank commitments leaves protection mechanisms further unclear.