For homeowners, it is particularly painful when they end up on welfare. They must finally eat their own home ?? ??. This type of loan is the mortgage credit.
For welfare there is an income test, but also a means test. This means that the Social Insurance bank accounts and other assets of the assistance applicant screening. The power must first be made ?? ?? to the amount of approx. ?? 5000.
The power of money that is in the house, consists of the sale value of the home minus the mortgage that has not been repaid. For the equity in the house there is a capacity limit of about ?? 45,000. This means that an applicant assistance with home ownership up to 46 200 ?? may have to own money in the house.
A special provisions for homeowners who apply for assistance and that exceed the output limit, the so-called credit mortgage ?? ??. The credit mortgage is a loan. So the assistance beneficiary receives assistance in the form of a loan. If there are so many loan assistance is that the own money in the house ?? at ?? , then the assistance turns into a benefit.
The loan amount is put in a separate account and paid by the Social Insurance.
The credit mortgage is a loan under concessional terms. Namely the loan has to be repaid only if the borrower is from social assistance. Moreover, is calculated in the ten years of repayment and no interest during the support period.
A couple has a house worth ?? 180 000 and a mortgage of ?? 100,000. The equity that the house sits, is ?? 80,000. There is a release of ?? 46 200. The remaining amount is ?? 33 800 This amount is recognized in the form of a mortgage loan and must eventually be repaid.
Assistance and home to learn more about social assistance and home.