The Italian Banking Association intervenes to appease the controversies relating to the legislative decree on mortgage financing.
Government act no. 265 transposes the European directive on mortgages in order to protect the interests of consumers. The heated debate in recent days refers to the doubts regarding the possibility for banks to foreclose on houses without having to first request the judgment of the Court, after the delay in paying seven installments of the mortgage loan.
While waiting for the Finance Commission of the Chamber to clarify the numerous questions existing on the provision, the number one of the ABI, Antonio Patuelli, tries to calm the spirits: «With the Government decree on the banks there is no risk of having the house foreclosed, it is a European directive, it was not requested by the ABI ». Commenting on the legislative decree, the president of the association added: «I studied the government document which transposes the directive and it does not concern past facts but eventualities, possibilities for the future. It is something left to the free negotiation between families and banking institutions and does not concern the past and damaged credits».
The Government also intervened on the issue and said it was "very willing" to make corrections to the decree.
The legislative decree, according to what was stated by the Deputy Minister of Economy Enrico Zanetti: «could be corrected by changing the reference to the seven installments with a reference to time spans». Lastly, the Executive reassured that the law was not retroactive.
