Bill would help customers whose homes were foreclosed

By SHELLY PAZ
homeless 88 (photo credit: )
homeless 88
(photo credit: )
Banks will be required to supply alternative housing to customers whose homes they foreclosed on years ago, according to an amendment to a pending bill approved by the Knesset Constitution, Law and Justice Committee on Wednesday. Last week, the committee approved the earlier version of the bill for second and third (final) readings. This version would force banks to provide alternative housing to clients whose homes were foreclosed after they defaulted on their mortgage payments. Despite objection from representatives of the Israeli Union of Banks, the clause added on Wednesday means the banks would have to to the same for customers who signed on their mortgages years ago, as long as they paid them for at least five years, even they failed to meet the payments as many as six times. Four MKs attended the meeting but only two of them stayed until voting on the new clause took place; committee chairman Menahem Ben-Sasson (Kadima) and Colette Avital (Labor). MK David Rotem (Israel Beiteinu) showed up late for the vote and asked for another vote. He was told that another one would be held if more lawmakers asked, on a special day for bills that needed to be revised.