The government will regulate the reverse mortgage

The government is considering policy changes to regulate the mortgage-inverse / "> reverse mortgage and other ways to convert liquid assets in real estate so that people can supplement the public pension or funded insurance unit.

Some entities already marketed such products as the reverse mortgage, through which the holder receives income against the value of your home, they accumulate some capital and interest to be paid at the end of the period agreed.

The secretary of state said that the government is working to encourage greater transparency in the products of social welfare, from improving information to the participant until the clarification of the commissions in mortgages and loans.

Written by Carlos Lopez on May 17, 2006 0 comments
Read more articles on Euribor.

The Bank of Spain warns that a rise in rates hurt more families to banks

In one of his last appearances commented:

"The bank is well capitalized, in part thanks to the overtime provisions designed by the Bank of Spain, so she has prepared enough to deal with" unexpected surprises awaited ""

"are the families who have transferred the interest rate risk because they have made mortgage rivers variable rate."

Just yesterday met the data until February, indicating that the Spanish families owed a total of 667,092 million euros, 21.3% more than in the same period of 2005. Most are due to mortgages.

Written by Carlos Lopez on May 17, 2006 0 comments
Read more articles on Euribor.