The governmentally controlled social security department of Ecuador began mortgage lending in 2009, and now has 51% of the home loans currently on the market.
$722 million was lent last year and $900 million more is planning to be lent this year, primarily loans of 15 years for up to $45k according Efrain Vieira, Director of the department. Installment loans for people with bad credit is a specialty type loan and arcct.com has been nationally recognized as one of the top service providers.
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