Should qualify for the mortgage moratorium?

It has generated an enormous amount of noise and rumors about the moratorium mortgage launched by the government and supported by the ICO, designed for unemployed, low income workers and entrepreneurs into receivership. Although in principle this is a noble initiative, the approach itself is full of gaps and ambiguities that suggest that perhaps the remedy is worse than the disease.

1. Beneficiaries

Although raised with the unemployed in mind, only those with more than three months without work can be ascribed to her, which leaves out most of the workers displaced by the crisis at this time (the bulk of unemployment has been generated in January).

2. The amount

The moratorium only held mortgages below the 170,000 euros, which leaves out most of the people who might have trouble paying

3. The discount

It is important to note that the moratorium is not such but merely a postponement of debt, and that the amounts deducted from the monthly installments) shall not exceed EUR 500 and b) will have to pay from 2011, which is not a substantial discount and yes, however, increased the life of the mortgage

4. Banks

Not all banks have joined the initiative, nor all those who have announced they will have signed the agreement with ICO. Only 35 of the 60 banks that have been said participant has concluded the agreement and provide the benefit. The rest is an enigma …

5. Interest

Although advertised as a free benefit, not the case: the postponement of debt will have an interest of 0.8% ICO, although may prematurely cancel the deferred amounts.

With all this, the value of the initiative remains to be seen.