The Government is drafting a law to protect retirees in reverse mortgages. The reverse mortgage provides an annuity to age 70 who have owned a home free of charge. Bone, it is pawning the house and the bank is giving them a monthly fee that can range from 150 to 1500 euros. The bank to offer this product as well as assess the price of housing, estimated years of life that are the homeowner.
In England this type of mortgage has been offering for decades, in some cases the owners lived longer than initially estimated by the bank, so there were some problems of eviction.
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