In Tamaulipas, older adults would receive bank credit in monthly installments without losing their home while they live
Ciudad Victoria, Tamaulipas.- Local deputy Edgar Melhem Salinas proposed an amendment to the State Civil Code, to recognize and authorize the reverse mortgage for the benefit of adults over 60 years of age.
On behalf of the PRI bench, the legislator explained that this legal figure would allow these people, when they live alone and without sufficient economic income, especially for their food, but who own their house, to apply for a bank loan by guaranteeing their property.
This loan would be delivered to the beneficiary in small monthly installments, until the total cost of the home is covered without the latter having to abandon it, since the guarantee would only apply until the borrower dies.
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