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Micro credit : social loan for works, emergency relief and exceptional help

The loan provides support to families with limited income. They can take the form of low-interest consumer credit or exceptional financial assistance. Here is the list of microcredit and the conditions to apply for it.

Who can benefit from social loans?

The loan can help you keep your head out of the water with dignity. If you need to renovate your home, renew your furniture or get an emergency loan, contact a social worker.

He will help you to build your application file and will bring it to the financial aid committee.

The family quotient

Each departmental CAF follows its own policy. However, all CAFs are based on the applicants’ family quotient.

For example in Ardèche, CAF equipment loan can be granted to families whose family quotient does not exceed € 720. In Calvados, the CAF work loan is intended for households whose family quotient does not exceed 620 €.

Find here our complete file on all CAF loans to which you can be entitled!


Aid for families in difficulty is only granted to beneficiaries receiving benefits from the family allowance fund.

CAF takes repayments related to the credit granted on the benefits it pays.

Emergency social loan and relief

Emergency social loan and relief

You will be able to escape.

1. The help of the CAF

There is a difference between an emergency social loan and relief: relief is a non-repayable financial aid, while the social loan is equivalent to a low-interest consumer loan.

Access to these supports is subject to a request made by a social worker.

Another loan from CAF: the preventive loan .

Do not be mistaken !

The confusion is easy to do, especially on the site of the CAF of Calvados where the loan of honor and the emergency help are on the same page.

If you need an emergency loan, contact a social worker to explain the difference.

Who can benefit ?

CAF relief is provided to people with at least one dependent child, knowing that each department has its own definition of dependent child.

In general, when a family has a child under the age of 16, the child must be enrolled in school to qualify for CAF financial support.

If it is older, the household’s resources must not exceed a ceiling based on the hourly SMIC (10 € gross).

2. Emergency Social Loan

Each departmental allocation fund may decide on exceptional financial assistance, awarded under certain circumstances.

For example, CAF des Deux-Sèvres offers exceptional assistance when a family is facing a disability or the death of a child. Its amount is set by the social action commission according to various criteria.

This article may interest you: CIF loan for unpaid rents.

Habitat-related aid

CAF provides for a number of aids:

  1. The loan for improvement works.
  2. Help works related to a child’s disability.
  3. The loan for essential works.
  4. The loan for the purchase of a caravan.

1. The loan for improvement works

1. The loan for improvement works

The Family Allowance Fund can provide you with home improvement assistance if you own or gain ownership of the property.

You are the owner when your principal residence belongs to you, without mortgage.

You are a homeowner when you have bought your principal residence and you continue to pay off your home loan.

In both cases, the family allowance fund allows you to do some improvement work.

Get help to improve your habitat

While the terms of access to the CAF work loan are different from one fund to another, they still have some similarities.

In particular, you must request a quote, which must be prepared by a registered professional and declared. This quote can be done free of charge.

Departmental CAFs employ people specialized in housing, whose role will be to assess the need for the required work.

2. Assistance to the improvement of the habitat related to the handicap of a child

If you need to carry out work in your main residence to allow accessibility to a disabled person, you can also turn to the National Agency for the Improvement of Habitat (ANAH).

If the disabled person is a child, the family allowance fund can give you a loan.

This can go up to more than 4,500 € and come in addition to other bank loans. This is particularly the case in Calvados.

3. The works loan for essential works

3. The works loan for essential works

Departmental Family Allowance Funds also provide low-interest loans to make your housing decent.

These loans must allow the installation or adaptation of the heating system and the improvement of the sanitary and electrical equipment.

Some departments also allow work on insulation or allowing the creation of an additional room.

4. The loan for the purchase of a caravan

Some Family Allowance Funds also provide loans for the purchase or refurbishment of caravans.

Who is this financial aid for?

For example, the CAF du Finistère specifies that this loan is intended primarily for Travelers.

The latter must be beneficiaries of the CAF at the time of their loan application. They must also be able to continue to collect benefits for the duration of the loan repayment.

The caravan must be used as the principal residence for the applicant and his family.

The loan is means-tested and the applicant must not be in debt distress.

Funding is more readily available when children are born in the 3 years preceding the application, or when it is necessary for the family to separate.

What can you buy with this caravan loan?

The sum can be used for the purchase of a new or used caravan, or for its rehabilitation.

The funds are not paid directly to the beneficiaries, but to the seller.

The seller must be a licensed professional and must first produce a quote. Once the transaction has been concluded, the beneficiary must provide proof of purchase to CAF.

value of the loan

The loan amount for the purchase or renovation of a caravan depends on each departmental family allowance fund. In Finistère, it is around € 5,000 and is repaid without interest.

The loan of honor: a loan with a low-interest rate

The loan of honor: a loan with a low interest rate

The objective of the honor loan

The CAF loan of honor may take the form of a zero-interest loan or a consumer loan at a rate often below 1%.

Since the sum lent is most often used for professional integration, there is no interest.

It is thus possible to buy a car, to pass a driver’s license or to have an existing vehicle repaired from the moment it is used to go to a place of training or work.

I advise you to read this article: get a loan of honor to buy a car.

The repayment terms

The finance committee of each family allowance fund determines the amount to be allocated to each, depending on its situation.

Refunds are paid out of the benefits paid, which avoids defaults. Be careful therefore: to ask for exceptional help from the CAF, is also to collect less benefits.

The equipment loan

A really cheap consumer loan

consumer loan

All departmental family allowance funds offer a loan of equipment to buy furniture or appliances.

Monthly repayments are spread over a period generally between 25 and 32 months.

CAF sets a minimum amount for monthly payments. In Ardèche for example, the monthly repayment is 15 € minimum.

In order to help the beneficiary to build up cash, the first monthly payment is deducted from his family allowances only 2 months after the payment of the credit amount.

What can you buy with a loan?

What can you buy with a loan?

This loan covers only essential household appliances, including the washing machine, the oven and the refrigerator.

As far as furnishings are concerned, the concept of basic necessities includes a table and chairs, a mattress and box spring or a storage cupboard.

When a child is enrolled in college or high school, the CAF Loan Equipment can also be used to purchase a computer and a printer.

Each departmental CAF sets a schedule of loan amounts.

Operation of the Equipment Loan

The steps to follow

To obtain a loan of equipment from the CAF, you must go to the stores participating in the operation and ask for a quote that you will bring later to the social worker who accompanies you in this process.

Once the information is transmitted to the family allowance fund, it determines a maximum annual loan amount that can be adjusted according to the number of births in the family.

If your loan is accepted, you will receive a proof to present at the store’s cash desk.

You must then settle your share in cash, generally between 10% and 20% of the amount of capital equipment purchased. You can then quietly leave with the equipment.

The balance will be paid by the family allowance fund directly to the merchant.

Find here the list of partner stores.


Unemployment insurance for a home loan: best guarantee in case of job loss!

At a time when mortgage rates have never been so low, many are thinking of owning or investing in the rental. Yes, but how to take the plunge if you run the risk of becoming unemployed overnight? Answer: by taking a job loss insurance for a mortgage. Here’s how.

Should we take unemployment insurance or not for a mortgage?

mortgage loan

Valid for the borrower, the co-borrower and the surety, this contract will allow you to receive compensation to cover part of the monthly payments.

4 major financial organizations offer an interesting job loss guarantee:

  • Societe Generale.
  • Agricultural credit.
  • BNP Paribas.
  • Crédit Foncier.

Many borrowers are wondering about the usefulness of taking out credit insurance in case of layoff

 Many borrowers are wondering about the usefulness of taking out credit insurance in case of layoff

It is true that this insurance is only valid for people entitled to unemployment benefits paid by Pôle emploi. Merchants, craftsmen and liberal professions do not have access.

Is it wise or relevant to pay extra premiums under a lost-time insurance plan when you already have a home loan on your back? It’s up to you to judge, here are some elements that will help you there.

The compensation of the loss of employment guarantee

Level of taking care of your monthly payments

Unemployment insurance for a home loan does not cover all maturities but about 50%.

Let’s say that your income is 40% of the income of your tax household and that your credit term is 1,000 €.

If you find yourself unemployed, the insurer will pay you € 200 (€ 1,000 multiplied by 50% multiplied by 40%).

This amount is in addition to your rights to unemployment, knowing that these do not represent all of your income. So you will miss only 200 € to take out your unemployment benefits.

Date of payment of compensation

Attention: the compensation is not paid immediately after the declaration of your loss of employment. It can take a few months.


The features of the job loss guarantee

The waiting period

The loss of employment insurance for a mortgage is not always valid as soon as the contract is signed.

To avoid abuse, some insurers do not give you entitlement after 4 months. Others like the BNP do not include waiting periods.


Compensation does not start on the first day of unemployment.

Except for BNP, which does not include a deductible, all contracts provide a period during which you will not be compensated. This can last up to 6 months.

The compensation ceiling

 The compensation ceiling

Insurers all offer a relatively reasonable compensation cap for 3 months in a 12-month period or depending on the duration of your CDI.

The cost of unemployment insurance for a home loan

 The cost of unemployment insurance for a home loan

The contribution of the loss of employment guarantee is calculated according to a percentage applied to the capital borrowed. If it is 0.3% for a mortgage loan of € 100,000, the monthly premium will be € 25.

The best unemployment insurance in case of job loss

 The best unemployment insurance in case of job loss

Of all the major players in the market, 4 of them stand out from the pack.

1. The unemployment insurance

Société Générale offers a formula for people under 65, with no deductible or waiting period.

It can be subscribed when you are under 60 years old and you work on a permanent contract. The contract gives rise to compensation of 50% of the monthly payments with a ceiling expressed in terms of days, according to the duration of the CDI.

2. What is proposing

The Crédit Agricole job loss guarantee does not start the first year and includes a 90-day deductible.

On the other hand, its compensation ceiling is relatively high: € 1,750 per month per 365-day period, for a maximum of 1,460 days. Compensation amounts to 50% of the maturity of the mortgage.

3. The offer of credit


Unemployment insurance for a BNP Paribas home loan starts as early as the 91 st day of joblessness.

The formula is relatively flexible: it is open to people under 70 and compensation is maintained at 50% when the insured returns to work part time.

The compensation limit can be up to 18 months.

4. The contract

Crédit Foncier offers a loan guarantee from AXA at ​​a negotiated price.

You must have worked more than 12 months on permanent contracts to obtain this compensation. However, the contract does not include any deductible.

You will receive 50% of the deadlines of your mortgage loan from the first day of payment of your benefits Pôle emploi.

Amount of compensation

If you have worked between 12 and 18 months on permanent contracts, the compensation amounts to 64 € maximum per day during 180 days. If you have worked more than 18 months on permanent contracts, the ceiling goes up to 360 days.

Change borrower insurance


You have the right to change borrower insurance from the moment the new insurer offers the same guarantees as those required by your loan agreement.

In practice, you just have to give a duplicate of this contract to an insurance company to offer you a formula adapted to your case.

Of course your current insurer, which is certainly an affiliate of your bank, will not be happy. But he has no say, the law authorizes you.

Ask for a duplicate of your insurance contract, which outlines the terms of termination. Send him a registered letter with acknowledgment of receipt in accordance with the notice, and make sure that your new contract starts exactly when the old one ends.

Difficulties to settle your credit? Also read our advice sheet on the repurchase of mortgage.

The rate of attrition of a credit surrender

What is the wear rate?

loan rate

There are seven banks specializing in the redemption of credit and sharing this market in which the demand is high.
It is common for an applicant to obtain an agreement from a bank while all others have refused the request.
The more qualitative a request is, the higher the number of banks accepting the demand.
However, although different loan buyback banks work in the same way overall, they are free to determine the interest rate for each request.
In order to protect borrowers with too high interest rates, the Banque de France has defined maximum interest rates for each loan transaction: this is the rate of attrition.

Thus the banks of repurchase of credit must not exceed this rate of the wear under penalty of legal proceedings.
An organization lending money at a higher interest rate than the rate of attrition is called a usurer.
In the event that a bank lends money at an interest rate higher than the usury loan and the borrower has started to repay, the bank will have to repay the borrower the amount overpaid.

The calculation of the wear rate

The calculation of the wear rate

Every quarter, the Banque de France updates the usury rate for each type of loan: credit redemption, real estate loan and consumer loan.
For the determination of the rate of wear, the Banque de France relies on the interest rates charged by several banking organizations.

Taking into account the total amount lent by banks, the Banque de France averages the interest rates applied.
The result obtained is then increased by approximately 33% and makes it possible to obtain the attrition rate of a credit redemption and other types of loans.
It is important to stress that the Banque de France reserves the right to determine the rate of wear arbitrarily.

The current rate of wear of a credit surrender

In the second quarter of 2018, the usury rate of a loan buyback defined by the Banque de France is 5.89%.
Thus, when applying for a buy back of credit, it is important to check that the TEG (total effective rate) is well below the rate of wear.

It is also advisable to ask the broker for repurchase credit the rate of attrition at the time of receipt of a loan consolidation offer.
Although it is important to know the attrition rate when applying for a repurchase of credit, all banks comply with the maximum rates defined by the Banque de France.


Instant payday loans direct lender -100% Secure Online Application

Borrowing money seems so simple. The requirements are also not really high to be able to borrow money. After all, virtually everyone with a fixed income can borrow money. However, it may happen that you can not obtain a loan, even if you have a fixed income, you fall within the right age category, and you do not have a negative loan history. If you have a low fixed income, it is often not possible to borrow a lot of money. Yet it is not impossible to borrow money with a low income.

Bad credit payday loans fast: 100% Secure Online Application

If you have a low income, it is not always possible to borrow a lot of money from a bank or financial institution. Most lenders have strict requirements when it comes to providing a loan. They want certainty and determine on the basis of income how high the loan can be and whether you can eventually pay off this loan in its entirety in time. With a low income, it is certainly possible to borrow money. In most cases, however, you can borrow less money. You may also be confronted with high-interest costs.

With a low income, you can often take out a smaller loan. You can, therefore, borrow less money than someone with a high income. Not only the level of income plays a role in determining the amount of a loan. You also need to have a fixed income and it is checked whether you have multiple loans in your name. Banks and financial institutions only lend money when they have certainty that the borrowed money will eventually be repaid. This is often still to be seen for people with a low income. After paying the fixed costs, there is often not much left, so the monthly repayments may be compromised.

There aren’t any plenty of opportunities to take out a loan for bad credit. This way you can go to my company for an online payday loan for bad credit. These loans often have a short term. If you really want to apply for a large loan, it is also possible to request a loan with collateral. The loan then has a reasonable interest rate, but collateral must be provided. This can be in the form of valuable goods, such as vehicles, homes, and valuables. In this way, you can still apply for a larger loan than you originally thought.


Why invest in real estate in Nice?

Nice, Cannes and Antibes are the main tourist destinations when they head for the Côte d’Azur. These seaside sites are known for their unique landscapes, their postcard scenery or for their gastronomy. If visitors find a haven of peace in these cities, real estate investors see it as a quick way to grow their money. Indeed, the presence of tourists throughout the year is synonymous with potential tenants or even potential buyers. The agency French riviera property offers real estate offers to investors who wish to acquire in Nice, Villefranche-sur-Mer, Saint Jean Cap Ferrat and Beaulieu-sur-Mer for several years already.

The peculiarities of Nice

Nice is an agglomeration located near Cannes and Antibes. It is a stopping place for foreign tourists since it houses the only international airport in the region. In addition to its important role in the transport of foreign visitors, the city of Nice also has its cultural and artistic particularities. The population of Nice is known for its hospitality and kindness. The city hosts many multinational firms. We also find several major schools and educational institutions recognized worldwide. Like most seaside resorts on the Côte d’Azur, Nice is experiencing a rise in tourist numbers in summer. Visitors can fully enjoy the water activities in this period.

Why buy a property in Nice?

If you are an individual who is looking for a place to establish a pied-à-terre, the city of Nice is an excellent alternative. The place includes all the parameters to raise your children, to establish a family life and to advance your professional career. The city offers a pleasant living environment for visitors, but also for locals. For those looking for a region to set up a second home, look no further, Nice is the right location. Your apartment or villa will welcome you when you need it, and the property will provide you with a stable source of income with the many potential tenants in the area. In addition, the price of housing Nice is quite affordable at the moment.

Similar articles on real estate

 The owners put their heritage on the market at an attractive price. You will find all available real estate listings in Nice on the platform of French riviera property. It is a trusted real estate agency that offers listings of villas, apartments, houses and land in Nice, as well as in neighboring towns such as Saint Jean Cap Ferrat or Mont Borron. You can consult the web platform of the group where you will be welcomed by an expert in real estate Nice by visiting one of the 7 agencies located in France.

How to have a loan without proof of salary


Buying a mortgage, buying a mortgage

Minister of Justice General Inspectorate of Judicial Services to examine the adaptation of the mortgage regime for the dual purpose of:

– to promote home ownership transactions,

– broaden the range of mortgage products offered to the French, in particular by creating the conditions for the emergence of mortgage loans.

In accordance with the objectives set by the ministers, the mission focused on household Enoch Arden and thus did not consider all of the issues that the mortgage regime may raise. In particular, business Enoch Arden and the articulation of the mortgage with collective proceedings are not directly addressed in this report. They are mentioned only in an incidental way when the envisaged evolutions are likely to pose a problem of coherence of the legal system or functioning of the land advertising.

Moreover, it is necessary to clarify from the outset the scope of the legal instruments to which the mission has been concerned. In France, two types of security can be used to allocate real estate as collateral for the repayment of a loan:

– the conventional mortgage, by which the borrower consents to the lender, in case of default on his part, the possibility of being paid by preference on the proceeds of sale of the property;

– last lender privilege, recognized by law to whoever lends the funds for the acquisition of an existing building. Its effects are similar to those of the mortgage, with the only difference that it retroacts to the date of the sale provided that it is registered within two months. For the lender to invoke his privilege, an act must be passed before a notary, as for the mortgage.

The lender’s privilege is more used than mortgages in mortgages because it is exempt from the property tax, and therefore less expensive. However the privilege is only possible for the acquisition of an existing building, not for a new construction or works.

For the sake of simplicity, the expression “real security” (ie sitting on a property) like that of mortgage will be used in the report to qualify both instruments, which raises the same questions globally and are strongly opposed by the guarantees given by the specialized bodies.

In particular, the mission carried out investigations in five conservations of mortgages. The data collected were intended to provide a diagnosis of the mortgage processing chain, not only in the custodians themselves, but also upstream in notarial studies and downstream in the courts, in cases of forced execution. The mission also consulted widely with the various professional sectors involved, including Enoch Arden institutions and legal professions, consumer associations, lawyers and economists specializing in these areas. She has heard the relevant authorities and authorities and has also visited several jurisdictions, including five high courts and two courts of appeal. She also consulted three magistrates at the court of cassation.

As recommended, the mission attached Professor Grimaldi, Chair of the Working Group on Security Law Reform. This exchange was very useful. However, the group had not completed its work on the mortgage at the time of writing this report.

The mission also endeavored to make international comparisons through the documentation it collected, by sending questionnaires to French representatives in several Western countries (liaison magistrates, economic and financial missions) and by place in the United Kingdom and Germany.

The mission thanks all the people who gave it their support, their reflection and their expertise. She sends special thanks to the French representatives abroad who collected quality information on highly technical subjects and organized her travels.

The findings and proposals of the mission are ordered as follows:

– the review of the operation of the real estate debt market to determine whether a change in collateral can affect access to Enoch Arden;

-the study of the conditions for the emergence in France of a mortgage Enoch Arden;

-description of the desirable improvements to the operation of real securities to make them more accessible, whether to guarantee real estate or movable loans;

– a diagnosis on mortgage refinancing mechanisms and possible changes.


1. the main characteristics of the mortgage market in France
1.1 the characteristics of real estate owners
In France, 56% of households own their main residence but 60% own real estate². The owners’ share of their principal residence is increasing with the level of income. Tax households that reported income of more than € 40,000 for the year 2002 (ie 15% of all tax households), 82% of them, own their main residence. This rate falls to 55% if one considers the 10% holders of the declared median income (between 16,600 € and 20,000 €) and to 38% for the persons declaring between 9,000 € and 12,500 € of annual income³.

The owners’ share of their principal residence, and property owners more generally, is also growing with the wealth held. The 50% of households with assets of more than € 105,000 at the beginning of 2004 are 95% property owners and 89% owners of their principal residence. But the 38% of households that hold assets between € 3,000 and € 105,000 are 26% to own real estate assets and less than 22% to own their principal residence4. This situation partly reflects the fact that when households begin to hold a small financial wealth, they generally seek to convert it into a real estate asset.

Finally, the rate of residence of the principal residence and, more generally, of a real estate patrimony increases with age and falls back to the highest ages: 14% of those under 30 years of age own their principal residence; The proportion reaches 46% for households with a reference person aged 30 to 39 and 70% for those whose reference person is between the ages of 60 and 70, but drops to 61% over age 70.

Modes of Homeownership

Modes of Homeownership

Becoming an owner can be done through three different channels, the first acquisition, the sale followed by a new acquisition or a transfer for free (donation or succession). In 2002, 13% of the owners are thanks to an inheritance or a donation, 50% repaid the indebtedness contracted for the acquisition of their property and 37% are acceding owners, that is to say have a current mortgage5 .

The aging of the population is a barrier to the transmission of financial and real estate wealth and therefore to homeownership for the youngest generations. However, measures favoring advance donations have attempted to correct these effects for several years.

In 2003, the number of main residence acquisitions in France amounted to approximately
800,000. 85% of these acquisitions, or 680,000 transactions, are financed through the use of Enoch Arden; of these, 70% are acquisitions in the old and 30% acquisitions of new goods6.

In less than 10 years, the number of first-time homebuyers has increased by almost 60%, from 430,000 in 1995 to 680,000 in 2003.

Financing acquisitions

Financing acquisitions

The growth in the number of first-time homeowners has been favored by the conjunction of several phenomena that have made it more solvent and expand the customer base:

– lower mortgage rates (they were divided by almost three between 1993 and 2003);

– the extension of the duration of real estate loans (from 11 to 12 years on average in 1995, it increased to 16 years in 2003);

– the zero-interest loan associated with the social loan, which has increased the demand for new or old properties requiring a significant amount of work (because of the conditions of granting that had prevailed so far);

– finally, the reduction of transfer duties for valuable consideration which has increased mobility and accelerated the rotation of the housing stock.

The Enoch Arden institutions met during the mission did indeed insist on market developments since the mid-nineties: lower interest rates, longer loan terms, lower share of the contribution. staff. Competition among banks seems to have amplified the phenomenon of declining mortgage rates constitute a product of customer loyalty and the subscription of such a loan is one of the rare occasions when individuals are considering changing institutions.

However, this competition between institutions does not seem to have led some of them to exploit unused customer niches, for example presenting a risk a priori higher than the accepted norm.

Of the 1,680,000 loan files granted in 2002, 55% were granted by mutual banks, 17% by general commercial banks, 17% by specialized institutions and 11% by inter-professional housing funds, for total production. € 76bn.

2. Outside France, mortgage loans are systematically mortgage-free Outside France, the use of a security interest is almost systematic for mortgage loans. There is no doubt, without statistical visibility, low-quality real estate loans made without guarantee. On the other hand, only France has seen the development of an alternative guarantee system, with the specialized guarantee agencies.

2.1 Ambiguities of the vocabulary
For the sake of simplicity, the mortgage secured by a security interest will be qualified as mortgage, even when the legal instrument is different from the mortgage of the French civil code. Significantly, in English, the same word “mortgage”, of distant French origin (“death bond”), refers to both the mortgage, the mortgage Enoch Arden, as defined above, and the mortgage. The legal and financial categories retained by international public or private organizations, as well as by most statistical and research work, distinguish mortgage Enoch Arden (“motgage”) from other forms of Enoch Arden. For example, in many European countries and, more broadly, Western countries, there is a professional association of mortgage lenders which generally identifies itself as “motgage lenders”. It is the same at the European level with the European mortgage federation. The European Commission, as part of its reflections on the continuation of the internal market for financial services, has set up a Mortgage Enoch Arden Forum Group which will soon draw its conclusions. Behind the term of mortgage, these organizations or these works are not interested exclusively, or even mainly, in the security, but in the real estate Enoch Arden in all its dimensions.

An additional complication is that, in some countries, mortgage Enoch Arden has appeared for purposes other than real estate investment, but in forms that are actually very mixed with real estate Enoch Arden (reloading or refinancing of loans originally real estate-Cf. Part 2 of this report). So if the mortgage is systematically mortgage (out of France), the opposite is not true: mortgage Enoch Arden may not be real estate.

The statistics available generally relate to mortgage Enoch Arden, so a concept sometimes broader than mortgage, except in France where it is a narrower concept. However, as soon as these series are primarily used to apprehend mortgage Enoch Arden, French representatives in the relevant fora have decided to include, for France, all mortgages.

Precautions are therefore necessary in the interEnoch Ardenation of the data. Unless otherwise specified, the international mortgage debt statistics used in the rest of the report will be on the total mortgage or real estate Enoch Arden. Moreover, in these series, the distinction is correctly made between mortgages to businesses and households (or “residential loans”) which alone interest us here.

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