Candidates for the mortgage or consumer knows: better to have a steady job, regular financial inflows since we spoke to his banker to request a loan. Bercy is determined to break this system. The reform, initiated by Nicolas Sarkozy in 2004, partly inspired by the Anglo-Saxon, is scheduled to arrive "late March" to Cabinet says it at Bercy, in the form of an order. In the future, purchasers of real estate will be offered by their bankers a "mortgage rechargeable." What is it? On a system that will not only put his property mortgage to get a mortgage, but also to increase its borrowing capacity as the loan is repaid. This borrowing will be used to purchase a new property, or any goods for consumption. So far, household debt was expected to have repaid all of his credit before using his property as a pledge to initiate a new loan. "This system will allow people who do not receive regular income to debt," say Bercy.
But no question of adopting the same system that dominates the credit in the U.S. or the UK. There, households can go into debt even more than the appraised value of their property. A significant leverage when prices go up, but formidable when they decline.
addition rechargeable mortgage, the government will also propose the "reverse mortgage". A system that will allow an owner of a property to make money without having to sell it. The bank will repay after his death and pay the balance to heirs, if rest ...
source: liberation.fr
