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Govt decree broadens eligibility for home assistance programme

The government has issued a decree expanding the eligibility for participation in its NET assistance programme for troubled borrowers to include pensioners and participants in fostered work programmes, the latest issue of the official gazette Magyar Közlöny shows.

Under the programme, the National Asset Manager (NET) is buying foreclosed properties designated by banks and allowing the borrowers to continue to reside in their homes as tenants.
Under an agreement between the government and the Hungarian Banking Association signed last December, NET is to buy 25,000 properties by the end of 2014, purchasing 8,000 homes in 2012, 7,000 in 2013 and 10,000 in 2014.