Banks are starting to publish on their websites, in addition to the list of auctions for selling foreclosed properties, ads from customers who are not yet late on payments, but who want to sell their guarantees in order to make early repayment on their loans, because they are seeing their financial situations deteriorate.
Lenders have therefore reached the position they most fear, i.e. becoming real estate agencies. Bankers have in the past stressed that banks' business is completely different and that they would seek solutions to avoid ending up with a huge portfolio of real estate properties they have to put up for sale.
For instance, BRD has published on its own sales website over 50 ads for apartments, houses, and plots of land held by customers whose financial situation has worsened and who are seeking to sell guarantees before reaching foreclosure. But the prices are significantly higher than in the case of foreclosed properties.
"These are guarantees for loans that have yet to become non-performing. There are debtors who realise they will not have the money to repay their loans in the future and file an application with the bank, requesting the amicable sale of the asset," said bank representatives.
Source: Ziarul Financiar