Hundreds of ads for foreclosure auctions are now to be found onbanks' websites, with such extreme methods of recouping lent moneybeing used increasingly often in the context where recessioncontinues, and clients' chances of financial rebound areevaporating.
This month banks will again put up for sale hundreds ofproperties repossessed from clients who did not pay their loaninstalments, with around 170 auctions being organised by BRD alone,which publishes ads for homes and plots for the first time on itswebsite.
Apart from the 52 plots, and 121 houses and apartments auctionedoff in June and July, BRD recovered eight production facilities andindustrial spaces and another 11 retail spaces.
Raiffeisen Bank, one of the first banks to publish sales ads forforeclosed properties on its websites, wants to sell 62 propertiesin June and another eight early next month. Since the beginning ofthe year, hundreds of ads for homes and plots put up for sale havebeen posted on the Raiffeisen website, with several auctions beingnecessary to sell a property because buyers are very hard to find-they either lack the money, or are waiting for prices to fallfurther.
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