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  1. Ken Grubb

    Ken Grubb

    Antalya


    • Points

      2

    • Content Count

      11,964


  2. Eglegal

    Eglegal

    Community Lawyer


    • Points

      2

    • Content Count

      114


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Showing content with the highest reputation on 15/10/20 in all areas

  1. Exactly. Banks have no interest to confiscate their customers properties. They exercise that right as a last resort when you fail to repay. Buying/selling property is not the type of business which the banks prefer to engage. It is a risk for a bank if they couldn't manage to convert property into cash on time.
    2 points
  2. It's because banks are in the money loaning business, not the debt collection business. If a borrower doesn't repay the loan, they have to take various legal actions, get the property, and sell it on the market, often at a loss of money. So the banks want to make sure the borrower has a good record of paying their debts.
    2 points
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