QUITO, Ecuador (AP) — Ecuador's legislature has passed a law that would oblige banks to forgive any outstanding debt on mortgages to first-time home buyers of properties worth up to $146,000 if they default and forfeit the home.
By Associated Press, South Florida Sun-Sentinel: World
Wed, 05/09/2012 - 11:34am
QUITO, Ecuador (AP) — Ecuador's legislature has passed a law that would oblige banks to forgive any outstanding debt on mortgages to first-time home buyers of properties worth up to $146,000 if they default and forfeit the home.