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Gov’t to guarantee repayment of home loans for unemployed

  The government will take over part of the debt service on home loans for those who have lost their jobs through no fault of their own for a period of up to two years, government spokeswoman Bernadett Budai announced at a press conference on Wednesday.

Ms Budai said those who lost their jobs after September 30, 2008 will be eligible to apply for the reduced repayment installments. The repayment guarantee will apply on home loans of up HUF 20 million (about $87000). The government will make no distinction between loans in forints or foreign currencies, and they will only provide the guarantee if the applicant has no remaining property. (MTI-Econews)