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Decree mandates ministerial proposal on prices for purchases of distressed borrowers' homes

The government has issued a decree instructing the national economy minister and the national development minister to immediately make a proposal for the price at which distressed borrowers' homes will be purchased by the National Asset Manager.

The decree, in which the government also amends and earlier decree on the establishment of the National Asset Manager, making July 31 the deadline for drawing up the new institution's operating conditions, was published in the latest issue of the official gazette Magyar Kozlony.

The new decree says that the two ministers must immediately make a proposal for the price of the homes selected for foreclosure, adjusted to the updated value of the collateral established at the time of the signing of the mortgage contract.