The government puts a deep hand in the pocket of citizens and is preparing the next crackdown on bank debtors to help the oligarchs of lending institutions in the country.
Not being satisfied with the aggravating conditions on citizens, the government under the influence of bankers is astonishingly devalue property and immovable property of citizens. With an absurd proposal to amend the Civil Procedure Code, the government proposes to the Assembly of the Republic the sale of apartments and immovable property left by collateral from citizens who have received loans through banks.
According to the government’s proposed decision to return to the law, when a citizen turns to the bank to borrow his property, he is evaluated by the valuers of assets employed by the bank itself. Then if the loan turns out to be problem then the second revaluation takes into account the estimates set by the government itself with a DCM, the values that are always below the market price.
Following the failure of the first two auctions, the government, with its decision, allowed banks to buy up to 30% of the value of the object or immovable property. So if a citizen has taken a loan and his home is assessed at the moment of lending by the bank with the value of 100 million Lek old and during the payments shows problems then the bank is addressing the pledged property of an executive company which according to the price of determined by the government itself, which is mainly oriented by the prices set by the Housing Office, expects at this second moment not more than 60 million Lek. Once auctions are held twice when the third auction is auctioned, the bank seizes the mortgaged house for the value of 18 million ALL. According to this estimate, the value of a house or immovable property depreciates to over 80% of its value.
This government’s decision, resuming cooperation with second-tier banks in the country, puts at risk the homes and immovable property of thousands of Albanians. This draft decision is also expected to be strongly opposed by business associations, traders and consumers who are directly affected by this decision, which even robs the Albanians.
This draft decision is expected to increase lending with blame and consequently the increase of criminality and the opening of new wounds in society.
