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The National association of shareholders protection is to be found in Almaty , t\news agency reports referring to the union of legal entities "League of Consumers of Kazakhstan".

According to the league representatives, "the amount of people's applications connected with the obligations breakage by the constructors in front of the shareholders grew up over the last period of time. Every day dozens of shareholders apply to the League of Consumers, these people face threat to become homeless and to get into dependence from the banks".

Obligations default made by the constructions threaten shareholders with a number of additional problems. They have to take habitation for rent until their houses are constructed, because quite often people sell their old habitation in order to become shareholder of a constructed house. Along with this, they take mortgage credits from banks and have to pay banking percentages for habitation, which they wait for years.

Besides that, according to the League of consumers rights, "the banks unilaterally increase percentage rates from 14 to 18 percent and more. Today experts observe mass re-estimation of property presented as a loan to the bank, and further banks expose ultimatum to the loaners: give for loan additional property, find a guarantor, or urgently pay back credit".

full article: http://www.almatycity.com/index.php?newsid=171