This is a serious dilemma facing lending institutions, as the implications could be far reaching if credit amnesty is approved by Cabinet as proposed by the Department of Trade and Industry (DTI) and the National Credit Regulator (NCR).
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Since their house is, for most people, the most substantial investment they will make in their lifetime, it is common to have a 20 year loan repayment plan in order to meet the expenses of having a monthly bond repayment.
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