Finance bank mortgage credit reverse mortgage President annuity mortgage Diet Senate Law
the opposition PiS and some Members of Polish Righteous . Today passed the Act which is to improve the situation of older people who are the owners of apartments, houses or land. Will be able to enter into a credit agreement with a bank that will pay them for a specified period of time or money once and the amount will be secured by a mortgage. Transaction will be accounted for heirs who will be able to repay the loan and take over the property or transfer ownership of a bank and settle the contract.
Reverse Mortgage will replace the currently used annuity in which the bank in exchange for a pension takes ownership of the property upon signing the contract. It’s a risky deal, because in the event of bankruptcy of the financial firm former owners lose their pension and taken over her fortune.
Act has yet to approve the Senate and signed by the President.
No comments:
Post a Comment