The Central Bank insists on prohibiting microfinance organizations from issuing loans secured by residential real estate, according to the Chairman of the Central Bank Elvira Nabiullina at a meeting of the Interregional Banking Council under the Federation Council. Such a decision will help combat fraud related to real estate.
Very often, when applying for a home loan, people do not read many of the terms of the agreement, as they are in a difficult financial situation, when they are ready to do anything. Thus, many residents of Russia are left without a roof over their heads, not taking into account that they are depriving their children and other relatives of housing.
