Rescue plan for home owners in trouble

Housing minister Eberhard van der Laan is working on a rescue plan for home owners who cannot meet their mortgage payments after losing their jobs, the AD reports on Wednesday.

The minister wants to make it possible for housing corporations to buy the houses and rent them back to their former owners on a temporary basis. Once the crisis has passed, the corporations can then sell the houses back.
House prices are falling and the number of homes being sold has almost halved since the start of the economic crisis.
Temporary tenancies
Van der Laan has already made it possible for people who cannot sell their homes to rent them out on a temporary basis. This means tenants would not be covered by secured tenancy agreements.
Moves are also under way to increase the national mortgage guarantee scheme to €350,000, the paper says. The guarantee, currently €265,000, means that if the mortgage holder defaults on payments, a special fund will pay off the debt.

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