The Ministry of construction of Russia urged to carefully refer to the idea to introduce “reverse mortgage”. This was announced by Director of Department of housing policy of the Ministry of construction and housing and communal services of the Russian Federation Nikita Stasyshyn, reports TASS.
“Here it is necessary very seriously to see if we’ll do disservice to the population. Due to the fact that there is no money to send them to the initiative, when the result is unclear, I believe we must be careful”, — he explained, speaking at the conference “Mortgage lending in Russia”.
As reported by RNS, Director of financial policy Department of the Ministry of Finance Sergey Barsukov, on the contrary, said that the introduction of “reverse mortgage” is relevant given “the current demographic situation”. He noted that in this situation, however, it is important to explore the level of interest rates.
About the possible launch of the mechanism of “reverse mortgage” as one option, support the poor, said last Monday the first Deputy Minister of Finance Tatyana Nesterenko. The mechanism of “reverse mortgage” provides for the transfer by the owner of his property over to the Bank or the government in exchange for credit or money. Nesterenko said that scenario was considered in which after the death of the owner of the property will be forfeited to the state.
Nesterenko added that “reverse mortgage” can be applied in movable and immovable property. The timing of the development and launch of the mechanism is not known.