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700 Evictions and 3000 Forcibly Auctioned Properties

Published: September 10, 2013 | 1:08 pm
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Up to 700 evicted citizens, and 3000 forcibly auctioned properties – due to public demand, the National Bureau of Repossessions has released statistics for the last 5 years. The head of the bureau Mikheil Sarjveladze has told TV3 that the problem is far more widespread with regards to people who are struggling to repay their loans. According to him, the bureau is negotiating with the parties in each individual case, in order to try to find alternative solutions prior to having to resort to initiating the repossession process.
Experts are viewing home repossessions as a significant social problem in the country. According to Levan Kalandadze, the scale of the problem will increase if the government fails to address the issue. The State should act as a mediator between the parties in order to find a solution, the expert states.
The National Bureau of Repossessions expects their statistical figures to increase further before the end of the year.

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