Philenews

Foreclosures: 26 Bills in Parliament – Government Preparing Bill – Considering Suspension of Foreclosures for Entire 2026

Published March 9, 2026, 17:14
Foreclosures: 26 Bills in Parliament – Government Preparing Bill – Considering Suspension of Foreclosures for Entire 2026

The Parliamentary Committee on Finance discussed a large number of bills related to property foreclosures, while the Ministry of Finance announced the drafting of a bill to strengthen the institution of the Financial Commissioner and the insolvency framework. The bill aims to bind the decisions of the Commissioner and accelerate the protection of debtors, as well as strengthen the insolvency process. The Committee President requested that the bill be submitted before the dissolution of Parliament, while the Financial Commissioner proposed adding a provision for regulating the repayment of the remaining loan amount after a court decision. Members of the EnErgo Movement protested outside Parliament, citing cases of people at risk of losing their homes. The Ministry of Finance emphasized the need to strengthen institutions and utilize the insolvency framework, while a suspension of foreclosures for the entire year 2026 is being considered.