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21st November, 2018

FX debtors may buy back homes

According to a bill filed in parliament on Tuesday, state property manager NET will sell back homes to foreign-currency debtors from whom it had purchased the properties when they went bankrupt.

The NET bought 36,000 homes and allowed former owners to stay in them if they paid rent.

The NET will sell the homes back to only those who paid the rent on time.

Total rent already paid will be deducted from the re-sell price, which will be the price at which the NET acquired the homes. The agency will not charge any interest.

The NET will also provide loans for such repurchases.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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