18 December 2003 00:20
Duma should make political decision on mortgage - Putin
MOSCOW. Dec 18 (Interfax) - The Fourth State Duma should make a political decision about changes in mortgage laws,
President Vladimir Putin said replying to questions from Russian citizens during a live televised chat on Thursday.
"Lawmakers in the new Duma should make a decision on these changes, and mortgage practices will become
large-scale," Putin said.
Mortgage loans are a way to solve the problem of dilapidated
housing, Putin said. About 89 million square meters of housing in
"We have certain social guarantees. For instance, the housing code says that you cannot be evicted from the
apartment you live in. Is it right? It is. It is a fundamental norm, which keeps society stable, for housing
construction cooperatives, apartment owners and tenants who are lodged under social programs," Putin said.
"However, there are other sides to the problem. If you take a loan on security of the property you buy with that
loan, the bank will not give the loan to you if it is unable to obtain the property in case you fail to repay the loan.
That is fair," Putin said.
Russia are dilapidated, he said.
1.3 billion rubles have been assigned for solving the problem in 2003, and the same allocations will be made next
year, the president said. He noted that the allocations were only 200 million rubles three years ago. [RU EUROPE EEU
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