After several similar initiatives in some regions, including Lazio legislates on the block mortgages.

Much has been allocated 10 million Euros from 2009 to 2011 each year to assist borrowers who have contracted the loan from 2002 until the end of 2008.

Requirements for access to this facility:

• ISEE less than 25 thousand Euros
• Secured credit or mortgage
• Retrieving public properties with mortgage payable to the cooperative, with 70% of members having the ISEE under 25 thousand euro.
• Economic difficulty coming up for death, illness or serious injury of a family
• Atypical workers
• Separation
• Increase in family members after turning on the mortgage

The measure taken by the region Lazio is a bit out of time because the deeper crisis now seems is going through. The second half of 2009 should start to show some signs of recovery later “flower” in 2010 and later.

However better late than never. Period’s negative fact in every family can happen even in periods of economic recovery and damping system can always be useful.

Categories : Business News