IL VALORE DI VENDITA FORZATA DEGLI IMMOBILI A GARANZIA DEI CREDITI

Abstract

As a consequence of the long lasting crisis that begun in 2006, the evaluation of collaterals and guarantees become a key issue. The global financial crisis had actually a heavy relapse on loans supply. The decrease of new granted mortgages was mainly related to the weakness and decline of the housing market and the negative phase of the economic cycle, characterized by an increase in the unemployment rate and a reduction in household incomes. In this context, robust risk assessment procedures and proper evaluation of collaterals are required for lending institutions to the granting of loans. The aim of this paper is to investigate whether assets used as collaterals are overestimated and how much of the mortgage lending value (VC) can be recouped by the property forced sale price (VF). The present study analyses the Italian foreclosed homes market, by surveying 89 forced sales, which occurred between 2006 and 2014 in the provinces of Treviso, Venice and Padova.

Keywords

• Italian Foreclosed Market
• Forced Sale Value
• Collaterals
• NPL
• Mortgage Lending Value.