Rate hikes and the mortgage crisis?

As a real estate professional for 50 years in the housing industry, I was stunned given the current uncertainty in the rise in interest rates and with it the possibility that thousands of families with floating rate mortgages would collapse once again. In order to avoid another historical mistake, which combines the uncontrolled inflation that is currently around 10%, that neither our government, nor the opposition, nor the financial system has taken action in this regard, and another possible mortgage crisis that falls directly on the families.

I remember, in the previous stage, we always recommended our transactions to fixed installment mortgages, whether fixed or variable rate. At the time and this surprised me a lot, although this product was not developed enough by the authorities, the truth is that it is not among the existing ones that have and could save thousands of families with this mortgage. product..

I emphasize this and point out again, for I confirm that this product of fixed installments with variable interest is not currently offered or mentioned in the entire financial system, which in good mathematical logic is rebalanced by increasing or decreasing contract years. .

In this way we will be freed from the burden and lack of mortgage flexibility, because the mortgage itself must contain different variables that can occur in the financial system such as non-payment and flexible mortgage insurance that the current mortgage system does not offer, this can automatically adjust the fee to your situation, even until it stops, so that the dramatic that this entails avoids consequences.

I am particularly surprised that many people who have had to repeat the unfortunate stage of not saving their mortgaged families and banks from their conditioning with enormous public resources were unable to foresee it before it was too late. , while technical and economic solutions exist and exist to avoid the worst.

Source: Informacion

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