Temporary suspension of payments on the principal, charging azero interest rate for a limited period, capitalising overdueamounts, cutting interest rates and/or extending the duration ofthe contract are among the main solutions for restructuring amortgage loan, as included in a guide approved by the NBR (NationalBank of Romania). According to recommendations of the guide puttogether by the Romanian Banking Association (ARB), whenrestructuring a loan, the client's indebtedness level must notexceed 35%, and the repayment schedule must be "achievable andreasonable". Bankers see loan restructuring as a "concession" tothe client, and not as the client's "right".
Rule no. 1 would be that any client who starts havingdifficulties repaying loans should go to the bank as soon aspossible to discuss solutions to relieve their payment effort. Themain purpose: prevent the accumulation of interest rates and ofpenalties that would ultimately lead to the client defaulting ontheir payment and to foreclosure on his home, which is thenauctioned.
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