Nicosia home scheduled for auction amid foreclosure dispute

On April 11, Holy Saturday, three families visited a residential property in the Nicosia area to inspect it for an upcoming auction scheduled for the following Tuesday. The residents, including the daughters of a woman identified as L.S. and her estranged husband, were unaware of the auction until the visitors arrived, causing significant distress to the family. The debt originated from a 160,000-euro loan taken out by the husband to build the house, which grew due to the 2013 financial crisis and subsequent business failure. L.S. alleges that the loan agreement contained abusive clauses and interest rates reaching 12% and 17%, rendering repayment impossible. A debt management company acquired the non-performing loan and froze the husband's other assets. Although L.S. claims that two other properties were sold for 264,000 euros and 250,000 euros respectively, she asserts that these sales failed to reduce the total debt balance. Consequently, L.S. has appealed to President Nikos Christodoulides, requesting a postponement of the auction to allow for further negotiation.