• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Ecuador incorporates 25,000 hectares of paramo to its protected areas
Former comptroller Pólit ‘helped’ a corrupt businessman get an appointment with Correa
Ecuador still has one of the weakest passports in Latin America
The European Union increases its banana consumption
This is how Quaker oats are made, a product that has been in Ecuador for several decades
Economy in 2024: stagnant, without the ITT and with a mining sector in decline
Bird flu detected in dead birds in Galapagos
El Niño phenomenon: alert status changes from yellow to orange in Ecuador
The United States is the first destination for Ecuadorian organic bananas
Ecuador incorporates 65 thousand new hectares of forest under conservation

Mortages Bill Was Approved by the Ecuadorian Assembly

Posted On 09 May 2012

Financial entities in Ecuador will have a new regulation, after the plenary session of the Assembly approved the Bill regulation for housing or vehicle loans.

With 68 affirmative, one negative, one white vote, and 21 abstentions, the Assembly yesterday approved the project on an emergency economic submitted by the Executive on 9 April.

The bill passed by the National Assembly will be passed to the President of Ecuador, Rafael Correa, who in 10 days must approve or veto it.

The provisions of this Act shall apply from the date of its publication in the Official Gazette (With not retroactive effect).

Remarkable points of the bill:

-The approved text states that in the event that a person cannot afford a loan for buying a first home or vehicle, such properties will be the only guarantee to extinguish the debt.

-The bill limits remained in the cost of housing and truck to extinguish debt, $ 146,000 (500 basic salary) and $ 29,200 (100 basic salary), in that order.

-The mortgage and vehicles may neither be warrant with bonds, shared guarantees nor with other security interests in property other than that of funding.

– Credits will cease to accrue the respective interests once the seizure of any property covered by this Act regulation. (FL)

About the Author
  • google-share
Previous Story

PRIAN Political Party Registered Its Candidacy in the Electoral Council

Next Story

Obama Raises 1 Million Dollars after Endorsing Gay Marriage

SEARCH

LATEST NEWS

Ecuador incorporates 25,000 hectares of paramo to its protected areas

Posted On 27 Sep 2023

Former comptroller Pólit 'helped' a corrupt businessman get an appointment with Correa

Posted On 27 Sep 2023

Ecuador still has one of the weakest passports in Latin America

Posted On 26 Sep 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net