Incheon Michuhol-gu Jeonse Fraud Victim Houses to Receive Immediate 'Auction Suspension' Starting Tomorrow

A foreclosure suspension measure for rental fraud victim housing in Michuhol-gu, Incheon will be implemented starting from the 20th.

Victims of jeonse fraud have reportedly surged at an apartment in Michuhol-gu, Incheon City.
[Image source=Yonhap News]

The Inter-Ministerial Task Force (TF) for Rental Fraud Victim Support held its first meeting on the afternoon of the 19th to discuss the details of the foreclosure suspension measure. The TF, chaired by the 1st Vice Minister of the Ministry of Economy and Finance, includes participants from the Ministry of Land, Infrastructure and Transport, Ministry of Justice, Ministry of the Interior and Safety, Ministry of Health and Welfare, and the Financial Supervisory Service.

There are a total of 2,479 rental fraud victim households in Michuhol-gu. Among these, cooperation will be sought to immediately suspend foreclosures starting from the 20th for loans held by banks and mutual finance institutions. On the same day, the Financial Services Commission sent cooperation letters to financial institutions, and the Financial Supervisory Service issued non-action opinions.

For cases where non-performing loans (NPLs) have been sold to private debt management companies, cooperation will be sought to suspend foreclosure procedures as much as possible and to monitor the situation. The government stated, "Along with the foreclosure suspension measures, we will promptly devise additional measures such as financial support to enable rental fraud victims to quickly recover from damages and achieve housing stability."

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