Foreclosures on the rise with expensive mortgages

Raising the interest rate decided by the ECB in recent months, as we know the effect of 'increasing rate of adjustable-rate mortgages, which begins cosà ¬ producing effects of insolvency for many famigflie Italian. Adusbef consumers association, announced its estimates of the current year and the houses Pigor arising from insolvency of adjustable-rate mortgages are expected to increase by 19%. The adjustable-rate mortgages in Italy, the share reaches 91% of those granted and being sensitive to their rate immediately touching the interest rate and "also for the speed with which the banks" will catch up. Adusbef but maintains that its banks have a great responsibility on insolvency, ¨ because in previous years, especially in 2004, led its customers to prefer if you do not require this type of procedure to turn it anzicheà ¨ oriented installment loan with a rate owners. In fact at that time the interest rate had fallen to historic lows and seemingly appeared to be low-cost pià ¹ so banks pushed customers to open long-term financial commitments (30-40 years). A mdistanza only 2due years the situation changed à ¨ amolto for variations in the rate hike and now siu calculated according Adusbef, that 3.5% of loans, amounting to about 120,000 over 3.5 million of the total, estate foreclosures or procedures to be put in place.

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