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EU seeks to avoid housing bubbles with mortgage law deal

Posted on 22 April 2013

European Union negotiators are expected to finalize the bloc’s first common rules on mortgage lending on Monday, in an attempt to avoid a repeat of property bubbles that helped fuel the euro zone’s debt crisis.
The legislation will force lenders in Europe’s 6.5 trillion euro ($8.5 trillion) mortgage market to check the creditworthiness of potential customers and their ability to repay, effectively banning self-certified or “liar” loans………………………………………..Full Article: Source


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