State assistance for Slovak mortgage debtors may start in 2010

The first debtors unable to repay their mortgages as a result of the economic crisis could make use of a newly introduced state assistance scheme beginning next year. The proposal for implementation of the state assistance scheme was approved by the Slovak cabinet at its session on September 30 which also stipulated that the Finance Ministry should finish the wording of the necessary legislative drafts by October 9, 2009, the SITA newswire wrote.

The first debtors unable to repay their mortgages as a result of the economic crisis could make use of a newly introduced state assistance scheme beginning next year. The proposal for implementation of the state assistance scheme was approved by the Slovak cabinet at its session on September 30 which also stipulated that the Finance Ministry should finish the wording of the necessary legislative drafts by October 9, 2009, the SITA newswire wrote.

Subsequently, banks should sign an agreement on joint action with the state bailout agency Slovenská Konsolidačná by November 6 of the same year. These are the conclusions of talks involving the Finance Ministry, the Slovak Banking Association and Slovenská Konsolidačná. The Cabinet approved the scheme of state assistance to people that will be unable to repay their housing loans as a consequence of the crisis in the middle of July, SITA wrote. SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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