Banks earmarked 2,098 homes for forced sale in the fourth quarter of last year, and an additional 2,952 in the first quarter of this year after the quarterly quota on such sales entered into force on October 1.

Banks utilised 78.4% of the quota in the fourth quarter and 82.5% in the first quarter.

The quota is set at 2% of the affected homes each quarter in 2011 and 3% in 2012. Those figures will rise to 4% in 2013 and 5% in 2014, before the quota is abolished.

The number of non-performing mortgages now over 90 days past due is near 100,800."

Source: Hungary Around the Clock

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