Real Estate and Home Design

It’s a mortgage to only prolong the payment period until the client is 90 years old

The alternative of extending the life of a loan is not new. In fact, part of a trend that has developed rapidly in recent years under three factors: increased life expectancy (which varies in 80.9 years, according to INE), increased the unemployment rate (exceeding 20%) and the ever-increasing indebtedness of households, so hard to pay dues on time, especially when they are high.

Monitoring data from the Family Funding Agency Negotiator Banking Products are clear. Three out of four people or families with a mortgage spent more than 40% of their monthly income to financial payments, and one in five has had to delay payment of fees at least once in the last 12 months. (more…)

The high life expectancy and the need to extend the repayment period have led to the design of a nonagenarian loans totaling

So far, there had been a source of financing for customers of up to 90 continue to amortize the mortgage of your floors. This has changed, and the reason is the increased life expectancy, the difficulties in making ends meet and the need to reduce the amount of the monthly housing loans. It is expected to do in case of death of the owners: the heirs decide whether to continue with the remaining installment payments or if, conversely, they liquidate the mortgage, as in the “hereditary mortgages.” (more…)