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Repossession of Mortgaged Properties to be Delayed

Published: November 6, 2013 | 11:41 am
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The repossessing process of properties burdened with mortgage could be delayed until 1 April. The MP Gedevan Popkhadze has made a statement in this regard at a press conference today. The Deputy Chairman of the Human Rights Committee is planning to begin consulting ministers and propose new initiatives in aid of the affected individuals once the new government team is confirmed. According to him, it is in the State’s best interests to deal with the issue of private mortgage lenders. A week ago, Mr. Popkhadze’s legislative proposal regarding a moratorium on repossessions of mortgaged properties was rejected by the Parliament.

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