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More than 70,000 people reportedly had their homes foreclosed or were sued for bankruptcy after failing to pay their mortgage instalments on time.

Governor Sukhumbhand Paribatra urged those with property in Bangkok to ask for the "Yimrub Prubnhee Thiyoo-asai" (Smile to Home Refinance) form at all district offices from November 23-30.

They then submit the filled-out form along with the required documentation to the district office from December 1-30 for city officials to consider them. The project does not set a limit on the amount to be refinanced.

Those passing the initial screening would contact the National Debtor Centre starting on January 11 for further processing.