Legal tip 205. Mortgage moratorium in 2009
Monday, January 4, 2010 @ 8:36 AM
A total of 11,796 families have formalized in 2009, the deferral of 50% of their mortgage loan through the Line of Official Credit Institute (ICO) Mortgage Moratorium.
According to the ICO, the total amount of deferrals entered into by these families amounts to 72.9 million of Euros. The maximum amount that each beneficiary can defer is 12,000 euros.
The moratorium was implemented on March, the 1st. The line is aimed at the partial and temporary reprieve for unemployed people. It reduces in a 50% mortgage payments due in the period from March 1, 2009 and 28 February 2011, with a maximum of 500 euros per month.
The postponement of the quota is implemented through a contract between the customer and the credit institution with which the mortgage is formalized, maintaining the validity and conditions of the initial loan.
New from "El Economista", 4th of January 2010.
Maria
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