The residence financing system based on Mortgage

Real estate sector is one of the most important compounds of economy also in our country as well as many other countries. The residence forming the big part of real estate market has become a complex situation by causing serious problems as immigration, illegal construction and unplanned residing as well as sheltering as basic need of humans in our country. In our country, especially for lower and middle income group, governments has worked on residence construction and financing but they could not be successful. This problem has been overcome by ?Long Dated Residence Financing System based on Mortgage? in the world that can be explained as to gather mortgaged credit in a pool and then evaluating real estates and at the end of this, to regain the financing. To apply this system issued by each country due to their economic structure in Turkey, there is need to make some changes in legislation. System will be born in condition of market and breath in condition of market. So, ability of going into operation and continue to operate of Long Dated Residence Financing System is connected with economic developments, stability and low interest rates directly. By effective application of system, gaining new acceleration for construction sector shrinking for years, so reactivation of substructure sector over two hundred, increase in employment and regaining the many idle real estates to economy are planned. To reach right results, it is needed to investigate the structures of countries applying this system, then to make necessary legislation changes and substructure arrangements exactly. Key words: Residence Problem, Residence Financing, Residence Credit, Mortgage