Agreement on home protection better than previous one, gov't sources say

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Agreement on home protection better than previous one, gov't sources say

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The agreement reached by the government and the representatives of institutions for the first residence provides greater protection for the low and middle incomes, according to government sources on Tuesday.

When the negotiation started, the institutions' demand was to cover only a 16 percent of loan holders and now the agreement protects with provisions covering 60 percent.

The loan holder will have to be included in the settlement procedure with the bank based on the current market value of the property and his income.