Ed Hardy Swimwear 20119'minha Casa, Minha Vida' (m

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Minha Casa, Minha Vida (My House, My Life) campaign was launched by the Federal Government in March 2009 as one of the means of eliminating the inequality gap and housing deficit in Brazil (of over 10 million houses).
With an initial governmental investment of over $64 BRL billion [link widoczny dla zalogowanych], 1 million houses are in the process of being built and allocated to families on a means tested basis (with more expected):
- Households with a total income of up to 3 times the minimum wage (currently at $465 BRL per month) can access the full allowance without any insurance and notary registration costs to pay;
- Households with a total income between 3 and 6 times the minimum wage can gain income supplements for loans; a discount on the cost of insurance; a 90% reduction of the notary registration cost and access to the guaranteed' fund (which will cover in the case of unemployment, death or other specified circumstances);
- Households with a total income of between 6 and 10 the minimum wage can receive lower costs of insurance, an 80% reduction of the notary registration cost and access to the guaranteed' fund.
The Minha Casa, Minha Vida (My House, My Life) campaign was announced by the Federal Government in March 2009 as one of the means of reducing the inequality gap and housing deficit in Brazil (of over 10 million houses).
With an initial governmental investment of over $64 BRL billion, 1 million houses are planned to be built and allocated to families on a means tested basis:
- Households with a total income of up to 3 times the minimum wage (currently at $465 BRL per month) can access the full allowance without any insurance and notary registration costs to pay;
- Households with a total income between 3 and 6 times the minimum wage can gain income supplements for loans; a discount on the cost of insurance; a 90% reduction of the notary registration cost and access to the guaranteed fund (which will cover in the case of unemployment [link widoczny dla zalogowanych], death or other specified circumstances);
- Households with a total income of between 6 and 10 the minimum wage can receive lower costs of insurance, an 80% reduction of the notary registration cost and access to the guaranteed fund.
*** ADMINISTRATION ***
Under the program (administered and governed by the Caixa Econmica Federal), households are able to purchase a house with a close to zero interest rate and refinance it over 36 months. As an example, those households that are earning up to 3 times the minimum wage will be allowed to purchase a house up to the value of $BRL 52,000, for which the scheme will contribute $BRL 46,000 leaving the buyer to provide the remainder $BRL 6,000 this would (usually) be borrowed from the Caixa Econmica Federal. Those in the higher income brackets are able to access smaller subsidies and finance packages. The maximum loan-to-value (LTV) ratio is 90 percent (80 percent for higher-income brackets) with interest rates ranging between 5 and 8 percent.
A number of incentives have also been granted to the Brazilian construction industry including loans at 1% above the TJLP (the long-term interest rate); reduced or completely eliminated tax structures; and extended repayment / grace periods. The Caixa Econmica Federal approves each housing development in conjunction with state or municipal governments.
Homebuyers only have to make their first payments after they move in (whereas most developments would require payments pre-construction and usually a down-payment of some sort).
*** CRITICISMS ***
Minha Casa, Minha Vida has received some criticism from academics [link widoczny dla zalogowanych], the media and the Brazilian public themselves. One accusation is that the government developed the programme to attract voters; there is the fear that placing political interests above the financial practicality of sustaining the scheme is a dangerous game. Effectively giving loans to poor families has also been looked at as risky, partic

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