Government and bankers came to an agreement to protect the primary residence, after a meeting at the Maximos Mansion on Thursday, under Prime Minister Alexis Tsipras.

The basic criteria for joining the new arrangement are: the family income limit of 30,000 euros, the debtor’s remaining borrowing amount to 130,000 euros, and the objective value of the property at 250,000 euros. The amount of the monthly installment of the loan will take into account an extension of the debt up to 20 years, the reduction of the interest rate, the possibility of a loan “haircut” and the subsidy of the monthly installment by the State.

Government sources report that based on these key criteria, an integration framework is in place that includes about 90% of red mortgages.

In addition to protecting the primary residence, the government’s goal is to conclude the consultations by the end of next week, as the EU report on the post-memorandum evaluation of the Greek economy is expected to be published on February 27.