Wolf Theiss

NEW AMENDMENTS TO THE MORTGAGE LAW

New Amendments to the Mortgage Law became effective on 16 July 2015. Below is a summary of the important changes that the new amendments have introduced. One of the most important changes is that, while mortgage creditors may still freely choose between judicial or non-judicial mortgage foreclosure, the process for out of court foreclosures is now much better regulated and has been simplified, so as to provide a greater level of creditor control over the out-of-court foreclosure process.

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