Acquisition of commercial real estate properties acquired on bail or on bail existing housing in recent times has become a reality.
To secure a pledge taken in the formal properties:
* property complexes (Moscow and the Moscow region);
* buildings, structures (Moscow and the Moscow region);
* of the buildings, facilities (Moscow and the Moscow region)
The loan is granted for a period of up to five years.
The loan amount ranges from 60 to 80% of the market value of real estate.
The loan amount of 30 thousand up to 2 million USD (or equivalent in rubles)
Interest rates (depending on the amount and term loan):
* 14-17% per annum for ruble credit.
* 13-16% per annum for foreign currency loans.
* for individuals 13% per annum
Dates credit:
* to 10 years for natural persons
* from 3 to 5 years for legal persons
For individuals such credit may be granted bail available in the commercial real estate property, for the acquisition of commercial real estate, for the acquisition of commercial real estate at the time of investment, for the purchase of residential properties in the secondary market, followed by a translation into commercial.
Related posts:
The history of mortgage
Saturday, September 29, 2007
Thursday, September 27, 2007
The history of mortgage
The term "mortgage" first appeared in Greece in the early VI. before tea (it has imposed Archon Solon), and was associated with the responsibility of the debtor to the creditor certain land holdings (in Athens originally served as collateral security identity debtor, in the event of non-compliance with obligations feared slavery).
For this commitment proceeding, and on the border of land owned by the borrower territory raised poles with a sign that the said property is a secured creditor's claim in the amount naimenovannoy. At such a column, called "mortgage" (from the Greek. Hypotheka-stand, kickstand), there were all debts land owner.
Later for that purpose to the use of special books, known as mortgage. Already in ancient Greece ensured transparency, which allowed each individual concerned readily ascertain the status of this land.
The new development has received the Institute of mortgages in the Roman Empire. As I in. He. e. created mortgage institutions that issue credit on bail property to private individuals.
During the period of Emperor Anthony Piya (II in. Yet. Et.) Was developed by special legislation to mortgage banks that existed along with other specialized banks and other lending institutions - proobrazami bank and savings associations.
The state often has greater support mortgage lending. Thus, when Emperor Trayane were established special funds to support widows and orphans, granting mortgage loans under 5% per annum (similar financial systems were formed in Russia at the XIX. Be true support, mainly representatives adresovalas noble Estate).
Mortgage Institute, in a relatively small time has been the evolution of the way fidutsii (from Lat. Fiducia transaction on trust, trustee for the transaction) to a more advanced stage-pignusa (from Lat. Pignus-informal pledge), and continue until mortgage.
When fidutsii object moved into property lien creditor, the latter had the right to return or to the debtor's estate after the performance of the contract, or to sell it, abandoning the monetary demands.
Pignusa Treaty provided for transferring real estate is no longer in the property and take possession of it as a guarantee for the loan obligations. The lender had no right to keep the subject in their own bail and could sell the property only in the event of failure made debtor obligations, returning the difference between the sales price and the balance of the borrower's debt.
The emergence of a classic mortgage institution was associated with the change of the policy environment of the time: the weakening of the slave economy and the massive transfer of land tenants. Initially, the new form of collateral falls tools, which lands tenants for objective reasons not to allocate land owners (landholders). Later transferred to the beginning of mortgages and real estate.
With mortgage assets remained in the possession of the debtor and the creditor receives the right to seek zakladyvaemuyu thing to follow with the sale of its bidding and compensation vyruchennoy balance of the borrower's debt. Some of the form of collateral Institute exists to date.
Along with the mortgage, caused by the agreement of the parties, imposed various legal mortgage, acting under Act (mortgage investor to invest a mortgage on the property tax non-payers, mortgages on the property custodian, mortgages wife to the husband's estate, etc.). There mortgages, subordinated to the outbreak of (the contract) or to the degree of importance (by law). Developed subsequent pledge of the same real estate more persons.
The role of the State in respect for the rights of participants in mortgage transactions has been high. Suffice it to the complex structure of the transaction required control and regulation, smooth registration system. In response to the weakening of the state functions from the twilight era of ancient world, the institution has ceased to exist mortgages in the next few centuries, before re-appear in the medieval European law.
In Germany, it appears no earlier XIV century, in France since the end of XVI century acted quiet mortgages. Mortgage extended to real estate (usually real), regardless of the change in ownership, and even then was reliable proprietary right, but only after making a special recording of a mortgage in a special book.
Related posts:
What is a mortgage
For this commitment proceeding, and on the border of land owned by the borrower territory raised poles with a sign that the said property is a secured creditor's claim in the amount naimenovannoy. At such a column, called "mortgage" (from the Greek. Hypotheka-stand, kickstand), there were all debts land owner.
Later for that purpose to the use of special books, known as mortgage. Already in ancient Greece ensured transparency, which allowed each individual concerned readily ascertain the status of this land.
The new development has received the Institute of mortgages in the Roman Empire. As I in. He. e. created mortgage institutions that issue credit on bail property to private individuals.
During the period of Emperor Anthony Piya (II in. Yet. Et.) Was developed by special legislation to mortgage banks that existed along with other specialized banks and other lending institutions - proobrazami bank and savings associations.
The state often has greater support mortgage lending. Thus, when Emperor Trayane were established special funds to support widows and orphans, granting mortgage loans under 5% per annum (similar financial systems were formed in Russia at the XIX. Be true support, mainly representatives adresovalas noble Estate).
Mortgage Institute, in a relatively small time has been the evolution of the way fidutsii (from Lat. Fiducia transaction on trust, trustee for the transaction) to a more advanced stage-pignusa (from Lat. Pignus-informal pledge), and continue until mortgage.
When fidutsii object moved into property lien creditor, the latter had the right to return or to the debtor's estate after the performance of the contract, or to sell it, abandoning the monetary demands.
Pignusa Treaty provided for transferring real estate is no longer in the property and take possession of it as a guarantee for the loan obligations. The lender had no right to keep the subject in their own bail and could sell the property only in the event of failure made debtor obligations, returning the difference between the sales price and the balance of the borrower's debt.
The emergence of a classic mortgage institution was associated with the change of the policy environment of the time: the weakening of the slave economy and the massive transfer of land tenants. Initially, the new form of collateral falls tools, which lands tenants for objective reasons not to allocate land owners (landholders). Later transferred to the beginning of mortgages and real estate.
With mortgage assets remained in the possession of the debtor and the creditor receives the right to seek zakladyvaemuyu thing to follow with the sale of its bidding and compensation vyruchennoy balance of the borrower's debt. Some of the form of collateral Institute exists to date.
Along with the mortgage, caused by the agreement of the parties, imposed various legal mortgage, acting under Act (mortgage investor to invest a mortgage on the property tax non-payers, mortgages on the property custodian, mortgages wife to the husband's estate, etc.). There mortgages, subordinated to the outbreak of (the contract) or to the degree of importance (by law). Developed subsequent pledge of the same real estate more persons.
The role of the State in respect for the rights of participants in mortgage transactions has been high. Suffice it to the complex structure of the transaction required control and regulation, smooth registration system. In response to the weakening of the state functions from the twilight era of ancient world, the institution has ceased to exist mortgages in the next few centuries, before re-appear in the medieval European law.
In Germany, it appears no earlier XIV century, in France since the end of XVI century acted quiet mortgages. Mortgage extended to real estate (usually real), regardless of the change in ownership, and even then was reliable proprietary right, but only after making a special recording of a mortgage in a special book.
Related posts:
What is a mortgage
Tuesday, September 25, 2007
What is a mortgage
What is a mortgage? This is a long-term loan against mortgage for the purchase of housing.
Most people believed most profitable mortgage way to solve housing problems.
Participants mortgage system are: banks (Review the borrower's ability to pay), insurance companies (undertake to insure risks in the mortgage lending), the company estimates (estimate the market value of apartments).
Advantages of mortgage lending:
* opportunity fairly quickly become the owner of housing and moving to a new apartment;
* loan for a long period, the amount for which the monthly payment does not change in case of increase in the cost of apartments;
* the opportunity to pay for their own apartment, rather than rent someone else's real estate, while interest on the loan are comparable to monthly rent for a similar apartment;
* opportunity to sign up (to register) in the apartment, on the acquired mortgage, the borrower and the members of his family;
* favorable investment (real estate prices rising steadily at 15-30% per year);
* receive tax benefits for the duration of the mortgage, with the amount in 1000000 rubles tax deduction, as well as the amount of interest payable for a term of the loan payment.
The main terms of the mortgage loan:
* credit issued for a period of 6 months to 27 years;
* loan amount up to 95% of the cost of purchased housing;
* interest rate on mortgages in rubles, from 15% per annum, the currency of 10% (defined individually);
* apartment is the subject of collateral which becomes the property of the borrower;
* payment from the borrower's own funds in the amount of 5% to 40% of the cost of purchased apartments (initial cash contribution);
* repayment of the loan is carried out in equal monthly installments over the life of the loan agreement, which includes interest on the loan and part of the debt and do not exceed 30-50% average borrower's monthly income;
* in determining the amount of the loan as a borrower's income may be included on the basic wage job, income from part-time work, income in the form of interest on deposits, income from the rental of real estate, and others over the past 2 years;
* Providing the borrower documents to assess its creditworthiness (information on income, family composition, educational qualifications, women who have worked, a copy of a passport, etc.)
Related posts:
Mortgages expiring
Most people believed most profitable mortgage way to solve housing problems.
Participants mortgage system are: banks (Review the borrower's ability to pay), insurance companies (undertake to insure risks in the mortgage lending), the company estimates (estimate the market value of apartments).
Advantages of mortgage lending:
* opportunity fairly quickly become the owner of housing and moving to a new apartment;
* loan for a long period, the amount for which the monthly payment does not change in case of increase in the cost of apartments;
* the opportunity to pay for their own apartment, rather than rent someone else's real estate, while interest on the loan are comparable to monthly rent for a similar apartment;
* opportunity to sign up (to register) in the apartment, on the acquired mortgage, the borrower and the members of his family;
* favorable investment (real estate prices rising steadily at 15-30% per year);
* receive tax benefits for the duration of the mortgage, with the amount in 1000000 rubles tax deduction, as well as the amount of interest payable for a term of the loan payment.
The main terms of the mortgage loan:
* credit issued for a period of 6 months to 27 years;
* loan amount up to 95% of the cost of purchased housing;
* interest rate on mortgages in rubles, from 15% per annum, the currency of 10% (defined individually);
* apartment is the subject of collateral which becomes the property of the borrower;
* payment from the borrower's own funds in the amount of 5% to 40% of the cost of purchased apartments (initial cash contribution);
* repayment of the loan is carried out in equal monthly installments over the life of the loan agreement, which includes interest on the loan and part of the debt and do not exceed 30-50% average borrower's monthly income;
* in determining the amount of the loan as a borrower's income may be included on the basic wage job, income from part-time work, income in the form of interest on deposits, income from the rental of real estate, and others over the past 2 years;
* Providing the borrower documents to assess its creditworthiness (information on income, family composition, educational qualifications, women who have worked, a copy of a passport, etc.)
Related posts:
Mortgages expiring
Saturday, September 22, 2007
Mortgages expiring
What happens if during the 12 months you more than three times, even slightly expired mortgage payment?
You know that this may be grounds for recovery inherent property?
* you propose to be a guarantor for the loan?
The person for whom you should poruchitsya says that this is an empty formality, and that the answer he would have no debts. Was that true?
And you know what Clients are jointly and severally liable with the borrower on the loan?
Why do people turn to the bank for the loan?
Because it wants to have his apartment (house, land, a lot of money on bail) (Desired-stress). This is all exactly clear.
No question about it. And that serves as the main incentive to apply to the bank and get a loan?
* Actual calculation?
* Sample and colleagues on the board work (Vasey neighbor, school buddies, driving a relative)?
* Broskaya advertising?
Unfortunately, in most cases, do not own calculation, and an example of "neighbor Vasey, buyers of credit already a third apartment, or out roll-advertising play a crucial role in the treatment of mortgage. And that is why a mortgage instead of a source of good, threatens to become a source of trouble.
Mortgage: bondage or benefit?
Imagine that you took the money: they want you to urgently enough, and while you need a "decent" amount. (For completeness, a feeling I podstavlyu-ka figures: need 100000 dollars)
Where they can?
* Option One: money.
Bertie monthly salary: deduct from it the necessary expenses: for food, clothing, family maintenance, rent, etc.. That something deferred for unforeseen expenses.
How much remains?
Now imagine the funds and the money to do that every month can put off. How much time will be required to obtain the necessary amount of money?
* Option Two: go into the streets with a large hat (the amount of money required to fit there) and ...
No? Outdoor razdobyt not get?
* Option Three: to take with friends. (Here is where druzhba-to checked). What does not get? A custody tried to hold interest? They also can not?
Although it managed to take something? Excellent: were good friends!
* Then still another option: take the money in the bank.
In most cases, this option is more effective than mentioned above. How to get credit in the bank - this, indeed, is devoted to the project "On MORTGAGES"
That is, it turns out that the bank can-do, as there are only best friends!
That is, mortgage-can be good.
But mortgage-can be and bondage. Indeed, if the loan had to pay 9 / 10 of its income, it is not like the good think.
If it is not possible to pay on the loan, but because the court imposes cover not only planted on the bank property, but also the fact that there was - and in which the loan funds are not spent, what is the benefit f?
A small conclusion:
Withdrawal from the above, a simple enough: Mortgage is a tool.
The skilful use of this tool can make a life-crash, better, better.
Not able-use can lead to serious losses.
Neither neighbor Vasya covering as cool to live in his flat, nor Bank, on whose custom-made beautiful advertising is not paying your debts.
This is your choice and your risk!
To mortgages would be good-you need to think independently.
Related posts:
A distinctive feature of a mortgage
You know that this may be grounds for recovery inherent property?
* you propose to be a guarantor for the loan?
The person for whom you should poruchitsya says that this is an empty formality, and that the answer he would have no debts. Was that true?
And you know what Clients are jointly and severally liable with the borrower on the loan?
Why do people turn to the bank for the loan?
Because it wants to have his apartment (house, land, a lot of money on bail) (Desired-stress). This is all exactly clear.
No question about it. And that serves as the main incentive to apply to the bank and get a loan?
* Actual calculation?
* Sample and colleagues on the board work (Vasey neighbor, school buddies, driving a relative)?
* Broskaya advertising?
Unfortunately, in most cases, do not own calculation, and an example of "neighbor Vasey, buyers of credit already a third apartment, or out roll-advertising play a crucial role in the treatment of mortgage. And that is why a mortgage instead of a source of good, threatens to become a source of trouble.
Mortgage: bondage or benefit?
Imagine that you took the money: they want you to urgently enough, and while you need a "decent" amount. (For completeness, a feeling I podstavlyu-ka figures: need 100000 dollars)
Where they can?
* Option One: money.
Bertie monthly salary: deduct from it the necessary expenses: for food, clothing, family maintenance, rent, etc.. That something deferred for unforeseen expenses.
How much remains?
Now imagine the funds and the money to do that every month can put off. How much time will be required to obtain the necessary amount of money?
* Option Two: go into the streets with a large hat (the amount of money required to fit there) and ...
No? Outdoor razdobyt not get?
* Option Three: to take with friends. (Here is where druzhba-to checked). What does not get? A custody tried to hold interest? They also can not?
Although it managed to take something? Excellent: were good friends!
* Then still another option: take the money in the bank.
In most cases, this option is more effective than mentioned above. How to get credit in the bank - this, indeed, is devoted to the project "On MORTGAGES"
That is, it turns out that the bank can-do, as there are only best friends!
That is, mortgage-can be good.
But mortgage-can be and bondage. Indeed, if the loan had to pay 9 / 10 of its income, it is not like the good think.
If it is not possible to pay on the loan, but because the court imposes cover not only planted on the bank property, but also the fact that there was - and in which the loan funds are not spent, what is the benefit f?
A small conclusion:
Withdrawal from the above, a simple enough: Mortgage is a tool.
The skilful use of this tool can make a life-crash, better, better.
Not able-use can lead to serious losses.
Neither neighbor Vasya covering as cool to live in his flat, nor Bank, on whose custom-made beautiful advertising is not paying your debts.
This is your choice and your risk!
To mortgages would be good-you need to think independently.
Related posts:
A distinctive feature of a mortgage
Thursday, September 20, 2007
A distinctive feature of a mortgage
A distinctive feature of a mortgage is the key: there is the mortgage bond, no collateral, no mortgage
The term mortgage:
The term "Mortgage" means a loan issued on bail.
The main difference is not of mortgage mortgage-mortgage: that is, the availability of collateral. Moreover, the mortgage loan can be granted bail as of the property owned by the borrower or on bail purchased property (where mortgages are drawn up in conjunction with the acquisition of property).
To better understand the difference between the mortgage and no mortgage, cite:
Under the existing mortgage apartment Bank credit, "consumer credit", which the borrower can use for just about everything.
This mortgage or no mortgage?
There is a bail-means there is a mortgage and loan-mortgage.
Another example:
The Bank has issued a loan to buy real estate.
But in this real estate collateral is not required. No collateral, no mortgage. And credit is not a mortgage.
Again, I stress that the mortgage is not different from the existence of the mortgage lien.
Mortgage: a bit of history
The term "mortgage" - Greek origin.
Even in ancient Greece could obtain loans on bail, such as land. The borrower receives money from the lender (mortgage), and to avoid the temptation to get bail money to the same land from other creditors, was bound at the site, collateral mortgage, a special label (or stone pillars). This sign opoveschal that the station is in the pledge that under his mortgage bond has been received.
What is the difference between "mortgage" and "collateral"
As already mentioned, the mortgage is the key. But not every pledge-mortgage. The fact is that the mortgage is a mortgage, which is public. When the real estate mortgage, the registrars transaction, make appropriate entries that encumbered property lien. Any interested person may request a bank statement from the State Register of real property rights and transactions. In this extract, if the property is found, be sure to indicate that there encumber: Collateral.
Related posts:
The mortgage terms and formulas
The term mortgage:
The term "Mortgage" means a loan issued on bail.
The main difference is not of mortgage mortgage-mortgage: that is, the availability of collateral. Moreover, the mortgage loan can be granted bail as of the property owned by the borrower or on bail purchased property (where mortgages are drawn up in conjunction with the acquisition of property).
To better understand the difference between the mortgage and no mortgage, cite:
Under the existing mortgage apartment Bank credit, "consumer credit", which the borrower can use for just about everything.
This mortgage or no mortgage?
There is a bail-means there is a mortgage and loan-mortgage.
Another example:
The Bank has issued a loan to buy real estate.
But in this real estate collateral is not required. No collateral, no mortgage. And credit is not a mortgage.
Again, I stress that the mortgage is not different from the existence of the mortgage lien.
Mortgage: a bit of history
The term "mortgage" - Greek origin.
Even in ancient Greece could obtain loans on bail, such as land. The borrower receives money from the lender (mortgage), and to avoid the temptation to get bail money to the same land from other creditors, was bound at the site, collateral mortgage, a special label (or stone pillars). This sign opoveschal that the station is in the pledge that under his mortgage bond has been received.
What is the difference between "mortgage" and "collateral"
As already mentioned, the mortgage is the key. But not every pledge-mortgage. The fact is that the mortgage is a mortgage, which is public. When the real estate mortgage, the registrars transaction, make appropriate entries that encumbered property lien. Any interested person may request a bank statement from the State Register of real property rights and transactions. In this extract, if the property is found, be sure to indicate that there encumber: Collateral.
Related posts:
The mortgage terms and formulas
Tuesday, September 18, 2007
The mortgage terms and formulas
The mortgage terms and formulas. Effective interest rate.
When people went to the bank, he drew attention to the interest rate, called the bank. This naturally: overpay for the use of credit nobody wants. And commit great mistake. Because the interest rate banks declared differs from the one on which the borrower actually pays. The fact is that in many banks there are additional commissions: somewhere there is a commission for issuing credit, somewhere, for the conduct of loan accounts.
How to calculate what the program really profitable?
This is done by using the effective interest rate, it can objectively compare the profitability of a loan.
There are different definitions of the effective interest rate. I believe that such a definition is best: the effective interest rate is the annual interest rate on the loan, taking into account all costs incurred during the use of credit.
Call your attention that because when calculating the effective interest rate takes into account all fees and commissions banks, it is very important to the amount of time that you use credit.
* For example, the commission for issuing credit in the amount of 1000 dollars, when the amount of credit to 100000 dollars, may increase the rate of interest on: 365% if the loan enjoyed only one day;
* 0.1% if the loan enjoyed 10 years.
Now veselimsya because: to calculate the effective interest rate, there are many ways. Imagine that you BANK 1 said that the effective rate of interest in their bank is 16%, while Bank BANK 2 employees were told that they had an effective interest rate of 20%.
Does this mean that the bank loan in the first profitable than in the second?
Not at all: they may have felt differently interest rates.
Related posts:
Mortgage: terms for market participants usage
When people went to the bank, he drew attention to the interest rate, called the bank. This naturally: overpay for the use of credit nobody wants. And commit great mistake. Because the interest rate banks declared differs from the one on which the borrower actually pays. The fact is that in many banks there are additional commissions: somewhere there is a commission for issuing credit, somewhere, for the conduct of loan accounts.
How to calculate what the program really profitable?
This is done by using the effective interest rate, it can objectively compare the profitability of a loan.
There are different definitions of the effective interest rate. I believe that such a definition is best: the effective interest rate is the annual interest rate on the loan, taking into account all costs incurred during the use of credit.
Call your attention that because when calculating the effective interest rate takes into account all fees and commissions banks, it is very important to the amount of time that you use credit.
* For example, the commission for issuing credit in the amount of 1000 dollars, when the amount of credit to 100000 dollars, may increase the rate of interest on: 365% if the loan enjoyed only one day;
* 0.1% if the loan enjoyed 10 years.
Now veselimsya because: to calculate the effective interest rate, there are many ways. Imagine that you BANK 1 said that the effective rate of interest in their bank is 16%, while Bank BANK 2 employees were told that they had an effective interest rate of 20%.
Does this mean that the bank loan in the first profitable than in the second?
Not at all: they may have felt differently interest rates.
Related posts:
Mortgage: terms for market participants usage
Saturday, September 15, 2007
Mortgage: terms for market participants usage
Mortgage: terms that market participants use
To deal with the fact that such a mortgage, we have to understand a number of terms (and if necessary, and learn). To make it easier, I created a small dictionary of terms. It should make little effort to understand these terms, and the answer to the question: "what is a mortgage? - will be simple and direct.
So, for the cause!
Please note that the same terms can mean very different things and concepts. The same with the mortgage term, using bank officer-could mean one, with the insurance activities mean more.
For example, "underwriting" - in mortgage is: a set of conformity assessment requirements of the submitted data bank;
but "underwriting" - in the adoption of insurance-insurance liability for loss or damage claimed reward (premium). Usually performed after determining the acceptability of the proposed size and the risk premium. (Glossariy)
Here, I will explain only the meaning of the terms used in the mortgage.
Many terms are "combination": consisting of two or more terms. Example: Mortgage "borrower" it is "chargor." Therefore, we can say "zaemschik-zalogodatel" bank-credit, so relative to the borrower's bank is not just a bank, but "credit-bank."
Related posts:
Mortgage money transferring ways
To deal with the fact that such a mortgage, we have to understand a number of terms (and if necessary, and learn). To make it easier, I created a small dictionary of terms. It should make little effort to understand these terms, and the answer to the question: "what is a mortgage? - will be simple and direct.
So, for the cause!
Please note that the same terms can mean very different things and concepts. The same with the mortgage term, using bank officer-could mean one, with the insurance activities mean more.
For example, "underwriting" - in mortgage is: a set of conformity assessment requirements of the submitted data bank;
but "underwriting" - in the adoption of insurance-insurance liability for loss or damage claimed reward (premium). Usually performed after determining the acceptability of the proposed size and the risk premium. (Glossariy)
Here, I will explain only the meaning of the terms used in the mortgage.
Many terms are "combination": consisting of two or more terms. Example: Mortgage "borrower" it is "chargor." Therefore, we can say "zaemschik-zalogodatel" bank-credit, so relative to the borrower's bank is not just a bank, but "credit-bank."
Related posts:
Mortgage money transferring ways
Wednesday, September 12, 2007
Mortgage money transferring ways
Different ways of transferring money.
* Cash vendor, before the filing of documents in the CIS. registration hands;
* Cash seller after the transaction hands;
* At the seller's expense before the transaction;
* From the buyer to the seller as in Russia, both at home and abroad;
* Through the mediator, for example, through the real estate agency;
* At the seller's account after the transaction;
* A cell depositary bank;
* A letter of credit.
Through negotiations, the buyer and seller reached a compromise.
There are rare cases where the seller is needed money, a buyer much like apartment, but the deal sagged just because way to transfer money proposed by a party, are not happy another.
And vice versa.
The compromise is not reached, the deal sagged.
In the case of mortgage-way transfer of money determines the bank. Sometimes all, but often only the part that grants in the form of credit. But there are possible alternatives.
And do pledge?
If bank credit, but does not require collateral design, the mode of transmission of money you choose themselves: as themselves agree with the seller, and distribute.
A credit agreement with the bank: Please get the money in cash. And give the money themselves seller apartment.
When needed bail?
* Pledge want the bank, but the bank initially gives the borrower money and gives it time to the one after the conclusion of the contract of sale flats laid its bank:
As collateral is not buying apartments at the same time as the bank simply gives money and transmit them to the seller as feels like it.
However, until collateral many banks prefer podstrahovatsya: and request that the borrower at the time, while rentals will be no lien bank - would provide sureties, or be handed over to any other property as collateral. In doing so, until bail apartments, acquired on credit, the borrower's interest rate increases.
* Security deposit occurs simultaneously with the borrower flat:
This is the most widely distributed transactions, is used in 9 cases out of 10. Under such a scheme, a way to transfer money calls the bank.
Related posts:
What you need to buy an apartment?
* Cash vendor, before the filing of documents in the CIS. registration hands;
* Cash seller after the transaction hands;
* At the seller's expense before the transaction;
* From the buyer to the seller as in Russia, both at home and abroad;
* Through the mediator, for example, through the real estate agency;
* At the seller's account after the transaction;
* A cell depositary bank;
* A letter of credit.
Through negotiations, the buyer and seller reached a compromise.
There are rare cases where the seller is needed money, a buyer much like apartment, but the deal sagged just because way to transfer money proposed by a party, are not happy another.
And vice versa.
The compromise is not reached, the deal sagged.
In the case of mortgage-way transfer of money determines the bank. Sometimes all, but often only the part that grants in the form of credit. But there are possible alternatives.
And do pledge?
If bank credit, but does not require collateral design, the mode of transmission of money you choose themselves: as themselves agree with the seller, and distribute.
A credit agreement with the bank: Please get the money in cash. And give the money themselves seller apartment.
When needed bail?
* Pledge want the bank, but the bank initially gives the borrower money and gives it time to the one after the conclusion of the contract of sale flats laid its bank:
As collateral is not buying apartments at the same time as the bank simply gives money and transmit them to the seller as feels like it.
However, until collateral many banks prefer podstrahovatsya: and request that the borrower at the time, while rentals will be no lien bank - would provide sureties, or be handed over to any other property as collateral. In doing so, until bail apartments, acquired on credit, the borrower's interest rate increases.
* Security deposit occurs simultaneously with the borrower flat:
This is the most widely distributed transactions, is used in 9 cases out of 10. Under such a scheme, a way to transfer money calls the bank.
Related posts:
What you need to buy an apartment?
Sunday, September 9, 2007
Mortgage and apartment
Mortgage and apartment.
The purpose of the borrower no mortgage, but apartment. This mortgage is a means to an end. Virtually every paragraph narrative we would expect their machination. The result is that for the mortgage banks importantly, the apartment is seen by banks as a pledge, that is, as a way of ensuring compliance. You may have noticed that at the table of contents of each item is "underwater pebbles", which in one way or another connected with the concept of "mortgage". Apartment is your ultimate objective of obtaining a mortgage, but it is not the goal of the bank!
Somehow the "mortgage underwater" not attach special significance, while others - can undo all previous steps in achieving the goal.
So let us look at all the conditions and stages of the mortgage a mortgage with a critical point of view.
It is already in the selection of the bank must take into account that there is a mortgage on terms you can make an impact, but there are conditions mortgage, which you can not influence.
The first step. First pitiful.
I suggested that you start with realtors and mortgage broker (often in one person), so you had a reliable assistant and ally. Realtors and mortgage broker you choose.
At the same time, everyone else chooses Bank. (Bank selects and appraisers, and insurers, and the need for a notary, and the way to transfer money, including specific depository. mortgage At these conditions you will not be able to affect. Is that the estimator choose one of two proposed bank, or choose one of two insurers offered by the bank.)
But! Too few realtors while working with mortgage customers. Great running on the likelihood of such who have only a theoretical idea of what such a mortgage. Apartment, chosen such rieltorom may not satisfy neither the bank nor the insurance company and the pleasure of buying-delayed for a long period. The benefit of any such realtors.
Step Two. Pitiful second. Bank sees you.
In what the bank will go? At that where space interest? And in what form you get the money, intended? A must wonder: Some banks offer money to the transaction in bumazhkah, and some lists at the expense of the seller when the seller sell the apartment. Imagine for a moment that you are the seller. You sell the apartment without seeing the entire transaction to the amount of money?
Step third. Pitiful third. Looking for an apartment.
Flats you find it easy, but whether this apartment suit your bank?
That is, you must select an apartment, taking into account all the requirements of your bank.
Step Four. Pitiful fourth. Evaluation.
Evaluation of the apartment is also a necessary condition for mortgages, but can be evaluated differently.
Example:
You are searching for an apartment, find, as you think, the cheapest of 100000. Based on your income bank willing to give you a loan 90000. The remaining money you have.
And what if the appraiser assess your apartment is not in 100000, and 90000?
The Bank will give you credit 90% of the cost of an apartment, but not from what you pay, but from the one that called the appraiser:
90 000 X 90% = 81 000
You expected 90000 loan, and you give 81000.
And where to get the 90000 -81 000 = 9000?
Step Five. Pitiful fifth. Apartment Approves Bank and the insurance company.
Apartment found, the documents collected and sent for testing in the bank and the insurance company. Keep in mind that you are willing sellers apartments seen as a buyer only when reaffirm their desire to buy a flat payment of a sum of money.
Amount symbolic, as compared to the value of the apartment (of the ruble equivalent of $ 500 and 10% of the value of apartments). But if the documents in order, but this apartment, for whatever reason, are not happy with your bank, you could lose the money that made vendors as a prepayment.
It must also be noted that the documents in the apartment was considering not only the bank, but also the insurance company. Accreditation of a bank insurance company is also a prerequisite for a mortgage that you can not influence. Some banks are working with several insurance companies, and then a borrower has a choice: where the insured, where the insurance deal, and the apartment, while some banks are working with a single insurance company.
If the documents are comfortable Bank, but not satisfied with an insurance company, the two options are possible:
if the Bank is working with several insurance companies, the borrower can apply to the other: all of a sudden one insurance company refuses to insure, and the other ensures that?
if the bank is cooperating with the sole insurance company, its refusal to insure, the bank will automatically mean the refusal to issue credit.
Therefore, you must clear about what points could not arrange bank and collaborating with the insurance company. Better before in a specific bank contact.
Step six. The credit agreement.
Mortgage only one that your choice: either sign a contract in the form in which you can give (or receive money under the terms and conditions mortgage, which offers the bank) or not to sign (and the money is not available). Sometimes, in the credit agreement inserted such items, it is better not to sign such a treaty. Argue with the bank on the day of signing a treaty that does not suit you removed items practically useless. So even when choosing the bank to become more familiar with the loan agreement fish photo you bank.
Step seventh. Progress pitiful. Money.
The issue seriously and will be devoting a separate page.
Step eighth. Notary certificate.
Need a notary selects Bank. If the bank insists that the permit was Notary transaction or mortgage-argue useless: it is also "mortgage condition." In doing so, the notary also defines a specific bank.
Step ninth. The state registration.
Step tenth. Insurance.
Sometimes this step precedes the transaction. And if you refuse to insure the insurers, for example due to the state of health?
That happens sometimes, too.
Related posts:
Credit for apartment
The purpose of the borrower no mortgage, but apartment. This mortgage is a means to an end. Virtually every paragraph narrative we would expect their machination. The result is that for the mortgage banks importantly, the apartment is seen by banks as a pledge, that is, as a way of ensuring compliance. You may have noticed that at the table of contents of each item is "underwater pebbles", which in one way or another connected with the concept of "mortgage". Apartment is your ultimate objective of obtaining a mortgage, but it is not the goal of the bank!
Somehow the "mortgage underwater" not attach special significance, while others - can undo all previous steps in achieving the goal.
So let us look at all the conditions and stages of the mortgage a mortgage with a critical point of view.
It is already in the selection of the bank must take into account that there is a mortgage on terms you can make an impact, but there are conditions mortgage, which you can not influence.
The first step. First pitiful.
I suggested that you start with realtors and mortgage broker (often in one person), so you had a reliable assistant and ally. Realtors and mortgage broker you choose.
At the same time, everyone else chooses Bank. (Bank selects and appraisers, and insurers, and the need for a notary, and the way to transfer money, including specific depository. mortgage At these conditions you will not be able to affect. Is that the estimator choose one of two proposed bank, or choose one of two insurers offered by the bank.)
But! Too few realtors while working with mortgage customers. Great running on the likelihood of such who have only a theoretical idea of what such a mortgage. Apartment, chosen such rieltorom may not satisfy neither the bank nor the insurance company and the pleasure of buying-delayed for a long period. The benefit of any such realtors.
Step Two. Pitiful second. Bank sees you.
In what the bank will go? At that where space interest? And in what form you get the money, intended? A must wonder: Some banks offer money to the transaction in bumazhkah, and some lists at the expense of the seller when the seller sell the apartment. Imagine for a moment that you are the seller. You sell the apartment without seeing the entire transaction to the amount of money?
Step third. Pitiful third. Looking for an apartment.
Flats you find it easy, but whether this apartment suit your bank?
That is, you must select an apartment, taking into account all the requirements of your bank.
Step Four. Pitiful fourth. Evaluation.
Evaluation of the apartment is also a necessary condition for mortgages, but can be evaluated differently.
Example:
You are searching for an apartment, find, as you think, the cheapest of 100000. Based on your income bank willing to give you a loan 90000. The remaining money you have.
And what if the appraiser assess your apartment is not in 100000, and 90000?
The Bank will give you credit 90% of the cost of an apartment, but not from what you pay, but from the one that called the appraiser:
90 000 X 90% = 81 000
You expected 90000 loan, and you give 81000.
And where to get the 90000 -81 000 = 9000?
Step Five. Pitiful fifth. Apartment Approves Bank and the insurance company.
Apartment found, the documents collected and sent for testing in the bank and the insurance company. Keep in mind that you are willing sellers apartments seen as a buyer only when reaffirm their desire to buy a flat payment of a sum of money.
Amount symbolic, as compared to the value of the apartment (of the ruble equivalent of $ 500 and 10% of the value of apartments). But if the documents in order, but this apartment, for whatever reason, are not happy with your bank, you could lose the money that made vendors as a prepayment.
It must also be noted that the documents in the apartment was considering not only the bank, but also the insurance company. Accreditation of a bank insurance company is also a prerequisite for a mortgage that you can not influence. Some banks are working with several insurance companies, and then a borrower has a choice: where the insured, where the insurance deal, and the apartment, while some banks are working with a single insurance company.
If the documents are comfortable Bank, but not satisfied with an insurance company, the two options are possible:
if the Bank is working with several insurance companies, the borrower can apply to the other: all of a sudden one insurance company refuses to insure, and the other ensures that?
if the bank is cooperating with the sole insurance company, its refusal to insure, the bank will automatically mean the refusal to issue credit.
Therefore, you must clear about what points could not arrange bank and collaborating with the insurance company. Better before in a specific bank contact.
Step six. The credit agreement.
Mortgage only one that your choice: either sign a contract in the form in which you can give (or receive money under the terms and conditions mortgage, which offers the bank) or not to sign (and the money is not available). Sometimes, in the credit agreement inserted such items, it is better not to sign such a treaty. Argue with the bank on the day of signing a treaty that does not suit you removed items practically useless. So even when choosing the bank to become more familiar with the loan agreement fish photo you bank.
Step seventh. Progress pitiful. Money.
The issue seriously and will be devoting a separate page.
Step eighth. Notary certificate.
Need a notary selects Bank. If the bank insists that the permit was Notary transaction or mortgage-argue useless: it is also "mortgage condition." In doing so, the notary also defines a specific bank.
Step ninth. The state registration.
Step tenth. Insurance.
Sometimes this step precedes the transaction. And if you refuse to insure the insurers, for example due to the state of health?
That happens sometimes, too.
Related posts:
Credit for apartment
Saturday, September 8, 2007
What you need to buy an apartment?
What you need to buy an apartment?
Yes money, of course!
Money adds Bank, in the form of credit.
And what do I get a loan borrower?
Money to repay the loan.
Bank afraid. Afraid that the money (data + you interest for the use of credit), it has not come back.
Bank of danger.
Ready, therefore, that before you will give at least some money, if you ask the question many times:
"And what is your income?"
What are asked so indiscreet question?
Because the loan depends on the borrower's ability to recover bank debt.
Banks believe that the person accepting the loan (the borrower) could spend on servicing of the loan (reducing debt to the bank and payment of monthly per cent), about half of revenue.
Of course, everything depends on the income, and from one bank (there are banks who believe that the borrower and 80% of their income can spend in the form of payments on the loan). The higher incomes, the more they can spend part of the borrower to repay the loan. And vice versa. For example, if a borrower's monthly income of more than 2 thousand dollars, it is such a salary borrower may 60-80% pay at providing credit. If the same salary (again, in terms of dollars) less than 700, the bank believes that more than a third of wages per month for the repayment of loan (with interest), the borrower will not be able to spend.
Maybe raised another question: At what cost you are looking for an apartment and how much money you have (in the initial payment) already? "
In fact, this is the same question in another form.
A specialist to whom you were referred about the credit, before the eyes of the table. Before you a little piece of tabular one of the banks. This table is easy to draw up on any mortgage program, any bank taking advantage of information publicly available, but you are unlikely to need.
The table shows that no matter what there was, everything boils down to your income. And the higher your income, so at great credit can count.
The last time banks prefer not to be such a table in hard copy, make a "loan calculators."
But vse-ravno, in whatever form, these data may be a bank employee, a potential borrower's loan depends on the borrower's income, and how much money for the initial payment from the borrower is.
Related posts:
Mortgage and apartment
Yes money, of course!
Money adds Bank, in the form of credit.
And what do I get a loan borrower?
Money to repay the loan.
Bank afraid. Afraid that the money (data + you interest for the use of credit), it has not come back.
Bank of danger.
Ready, therefore, that before you will give at least some money, if you ask the question many times:
"And what is your income?"
What are asked so indiscreet question?
Because the loan depends on the borrower's ability to recover bank debt.
Banks believe that the person accepting the loan (the borrower) could spend on servicing of the loan (reducing debt to the bank and payment of monthly per cent), about half of revenue.
Of course, everything depends on the income, and from one bank (there are banks who believe that the borrower and 80% of their income can spend in the form of payments on the loan). The higher incomes, the more they can spend part of the borrower to repay the loan. And vice versa. For example, if a borrower's monthly income of more than 2 thousand dollars, it is such a salary borrower may 60-80% pay at providing credit. If the same salary (again, in terms of dollars) less than 700, the bank believes that more than a third of wages per month for the repayment of loan (with interest), the borrower will not be able to spend.
Maybe raised another question: At what cost you are looking for an apartment and how much money you have (in the initial payment) already? "
In fact, this is the same question in another form.
A specialist to whom you were referred about the credit, before the eyes of the table. Before you a little piece of tabular one of the banks. This table is easy to draw up on any mortgage program, any bank taking advantage of information publicly available, but you are unlikely to need.
The table shows that no matter what there was, everything boils down to your income. And the higher your income, so at great credit can count.
The last time banks prefer not to be such a table in hard copy, make a "loan calculators."
But vse-ravno, in whatever form, these data may be a bank employee, a potential borrower's loan depends on the borrower's income, and how much money for the initial payment from the borrower is.
Related posts:
Mortgage and apartment
Monday, September 3, 2007
Credit for apartment
The first step
This step can be skipped, and start with the next. But I do recommend it to do.
I recommend that appeal to the mortgage broker, who knows about mortgages almost everything. Time to choose a bank then will need far less likely to obtain a loan-rise, and in some banks, credit will be available for Special Programs: distinguishable best conditions. The benefits of this treatment may be many times more than the monetary cost of the services of a broker.
Next, I recommend that you go into real company and enter into an agreement with rieltorom to buy an apartment on credit was easy and not be turned into an endless "walking on the meal." When buying an apartment on credit characteristics of the mass must be taken into account: if professional realtors working with a mortgage, all those characteristics, he knows.
Of course, the work of the mortgage broker, realtors and costs money, but in the case of a mortgage, this is better than saving.
Although, it's up to you.
Step Two. Bank sees you.
By issuing money, the bank risks. Therefore, the money issue is not all. Consideration takes from three to five days to six weeks, depending on the bank and of the source of your income.
Step third. Looking for an apartment.
Apartment easy to find: There are many sites on the Internet, and print media where ads sold on the flats. But! Flats to test, you must gather all the documents on it. And, as happens in the purchase of an apartment loan, rather than cash, rentals should not only upset you, but Bank.
This case when there is a positive decision on the previous step. If a negative decision-looking another bank, and the previous step going with another bank
Step Four. Evaluation.
The Bank must be sure that credit is not more than so much per cent of the cost of an apartment, but provided his credit program. Therefore, the apartment must be assessed. Certificate of Assessment is transmitted to the bank.
Step Five. Apartment Approves Bank.
Apartment found, the documents collected and sent for testing in the bank and the insurance company. Security Service Bank, together with the legal department, as well as members of an insurance company considering your chosen apartment. If they are satisfied, then you can buy this apartment.
Step six. The credit agreement.
Before you sign the loan transaction contract. Under this treaty Bank prepares you for the necessary money to the seller apartment (in the case of the sale of an apartment) could get one.
Step seventh. Money.
Depending on the merchant bank transferred the money in different ways. Either through deposit box or at the seller's expense. If deposit box through a bookmark-laundering occurs in a cell before state registration.
Step eighth. Notary certificate.
The Treaty is not subject to mandatory Notary Permits. In most cases, sales contracts are drawn up in the apartment beznotarialnoy form, the bank may require that a notary certificate, it would be. - Will have to certify require notarized. The Bank also may require that has been certified by a notary signature on the mortgage. But even if the bank did not require this, the visit to the notary vse-ravno have to do: to verify the consent of spouses to the deal, or vice versa: write a statement that the participants in the transaction were not married.
Step ninth. The state registration.
The move comes at a time right state registration. Registration transactions lasts from a week to a month.
Step tenth. Insurance.
Sometimes this step precedes the transaction.
Bank of risks and wants to reduce their risks. Bank reduces their risks, as, is, for your account. That is, with the insurance organization rasplachivaetes you.
Related posts:
Mortgage and credit
This step can be skipped, and start with the next. But I do recommend it to do.
I recommend that appeal to the mortgage broker, who knows about mortgages almost everything. Time to choose a bank then will need far less likely to obtain a loan-rise, and in some banks, credit will be available for Special Programs: distinguishable best conditions. The benefits of this treatment may be many times more than the monetary cost of the services of a broker.
Next, I recommend that you go into real company and enter into an agreement with rieltorom to buy an apartment on credit was easy and not be turned into an endless "walking on the meal." When buying an apartment on credit characteristics of the mass must be taken into account: if professional realtors working with a mortgage, all those characteristics, he knows.
Of course, the work of the mortgage broker, realtors and costs money, but in the case of a mortgage, this is better than saving.
Although, it's up to you.
Step Two. Bank sees you.
By issuing money, the bank risks. Therefore, the money issue is not all. Consideration takes from three to five days to six weeks, depending on the bank and of the source of your income.
Step third. Looking for an apartment.
Apartment easy to find: There are many sites on the Internet, and print media where ads sold on the flats. But! Flats to test, you must gather all the documents on it. And, as happens in the purchase of an apartment loan, rather than cash, rentals should not only upset you, but Bank.
This case when there is a positive decision on the previous step. If a negative decision-looking another bank, and the previous step going with another bank
Step Four. Evaluation.
The Bank must be sure that credit is not more than so much per cent of the cost of an apartment, but provided his credit program. Therefore, the apartment must be assessed. Certificate of Assessment is transmitted to the bank.
Step Five. Apartment Approves Bank.
Apartment found, the documents collected and sent for testing in the bank and the insurance company. Security Service Bank, together with the legal department, as well as members of an insurance company considering your chosen apartment. If they are satisfied, then you can buy this apartment.
Step six. The credit agreement.
Before you sign the loan transaction contract. Under this treaty Bank prepares you for the necessary money to the seller apartment (in the case of the sale of an apartment) could get one.
Step seventh. Money.
Depending on the merchant bank transferred the money in different ways. Either through deposit box or at the seller's expense. If deposit box through a bookmark-laundering occurs in a cell before state registration.
Step eighth. Notary certificate.
The Treaty is not subject to mandatory Notary Permits. In most cases, sales contracts are drawn up in the apartment beznotarialnoy form, the bank may require that a notary certificate, it would be. - Will have to certify require notarized. The Bank also may require that has been certified by a notary signature on the mortgage. But even if the bank did not require this, the visit to the notary vse-ravno have to do: to verify the consent of spouses to the deal, or vice versa: write a statement that the participants in the transaction were not married.
Step ninth. The state registration.
The move comes at a time right state registration. Registration transactions lasts from a week to a month.
Step tenth. Insurance.
Sometimes this step precedes the transaction.
Bank of risks and wants to reduce their risks. Bank reduces their risks, as, is, for your account. That is, with the insurance organization rasplachivaetes you.
Related posts:
Mortgage and credit
Saturday, September 1, 2007
Mortgage and credit
Last time, is increasingly heard: "I want mortgages."
But mortgage and loan-different concepts. The term "mortgage" means mortgage, and specifically credit received on bail of a debtor's assets and money credit is issued to creditors for repayment conditions, and payment of urgency.
It is not always money is that there is a need to lay something: Pledge procedure itself requires certain costs, and these are not always cost-justified.
Mortgage. Mortgage loan.
So, a little theory.
Mortgage-word of Greek origin, meaning, in the pledge.
In our conversation we will talk about mortgage lending, in the case of real estate.
That is, say "mortgage" and understand that credit is issued against mortgage.
A lay-loan real estate. Can settlement with the bank bail-go, no-inherent property can be sold, and proceeds from the debt will be charged to the Bank, including interest for the use of credit.
They say "mortgage" understand "pledge."
Let's talk about the terms in more detail.
Mortgage is the mortgage. There is the mortgage bond, no collateral, no mortgages, and credit is not a mortgage.
To better understand the difference between the mortgage and no mortgage, cite:
Bank credit on bail of available apartments, "consumer credit", which the borrower can use for just about everything.
This is a mortgage loan?
Mortgage!
Even though the borrower may spend the money for any purpose: mortgage is the key.
Example Two:
The borrower bank credit to buy an apartment. Bail is not required acquired apartments.
Such a mortgage loan, or not?
No, this is not a mortgage: a pledge of no means no mortgage.
Which is more important: mortgage or loan?
Which is more important to the borrower-buyer flat: a loan or mortgage?
Of course credit! There is a shortage of money-taking the credit.
And more importantly for the bank?
Mortgage!
Because the mortgage is the key.
Bail is a way of ensuring commitment: not return a borrower loan-collateral is sold subject. And Bank, the inherent value of the assets will offset its losses, and returning the loan, the borrower and unpaid interest.
Loans: trust and not trust
With mortgage, as you know, you can get additional benefits on taxation. Want to use the tax incentives provided in mortgage lending? That possibility is there.
What are the benefits in question, what I describe in some detail on page Priyatnosti mortgages
Let me just draw your attention to the fact that benefits for the borrower's mortgage lending is not for the fact that the borrower purchased using credit apartment: it is not enough. Benefits are provided for the loan borrower spent for the acquisition or construction of housing and the loan trust! What does it mean to "target"?
Take credit "for immediate needs" bought an apartment not trust credit: no concessions;
if, however, took credit for the purchase of real estate properties and the acquisition of its spent - and then have the right to benefits.
They say "mortgage" understand "credit".
Butter Sandwich without happens, a mortgage without collateral?
?
What do we mean by "mortgage"?
Turning to the bank for a mortgage (with the mortgage), who are interested in little collateral!
Purpose-apartment to buy a flat-needed money, their money is not enough, take the credit.
So?
(Interesting look at the person who is not drawn to the bank to get a loan and to pay bail in the apartment!)
Therefore, when a borrower is drawn to the bank for the mortgage, the employees of banks offer mortgages as well as mortgage loans is not: it is the objective of the borrower-house, the borrower mol what difference will be mortgage (mortgage) or not?
The borrower-credit: This is what you want! A mortgage in the sense of "collateral" is not a goal of the borrower.
As part of our continuing conversation, I too will not adhere so strictly correct interpretation of terms.
The aim is to purchase and, therefore, talk of a mortgage we will be as a loan, regardless of the fact whether a pledge of an apartment or not.
At the same time, draw your attention to some fundamental points:
* In the real estate mortgage as soon formalized in the borrower's property. (And not when the borrower Has with the bank.)
* Bank could not on its arbitrariness confiscating the property the borrower.
The borrower may lose its only real estate laid by the court, and then only in the event that violates the credit agreement.
And ways of acquiring apartments in installments, in which the buyer can live in an apartment, paying for only a fraction of its value, but will not be the owner of the apartment until it pays the full cost, we will not consider. This is certainly not mortgages.
But mortgage and loan-different concepts. The term "mortgage" means mortgage, and specifically credit received on bail of a debtor's assets and money credit is issued to creditors for repayment conditions, and payment of urgency.
It is not always money is that there is a need to lay something: Pledge procedure itself requires certain costs, and these are not always cost-justified.
Mortgage. Mortgage loan.
So, a little theory.
Mortgage-word of Greek origin, meaning, in the pledge.
In our conversation we will talk about mortgage lending, in the case of real estate.
That is, say "mortgage" and understand that credit is issued against mortgage.
A lay-loan real estate. Can settlement with the bank bail-go, no-inherent property can be sold, and proceeds from the debt will be charged to the Bank, including interest for the use of credit.
They say "mortgage" understand "pledge."
Let's talk about the terms in more detail.
Mortgage is the mortgage. There is the mortgage bond, no collateral, no mortgages, and credit is not a mortgage.
To better understand the difference between the mortgage and no mortgage, cite:
Bank credit on bail of available apartments, "consumer credit", which the borrower can use for just about everything.
This is a mortgage loan?
Mortgage!
Even though the borrower may spend the money for any purpose: mortgage is the key.
Example Two:
The borrower bank credit to buy an apartment. Bail is not required acquired apartments.
Such a mortgage loan, or not?
No, this is not a mortgage: a pledge of no means no mortgage.
Which is more important: mortgage or loan?
Which is more important to the borrower-buyer flat: a loan or mortgage?
Of course credit! There is a shortage of money-taking the credit.
And more importantly for the bank?
Mortgage!
Because the mortgage is the key.
Bail is a way of ensuring commitment: not return a borrower loan-collateral is sold subject. And Bank, the inherent value of the assets will offset its losses, and returning the loan, the borrower and unpaid interest.
Loans: trust and not trust
With mortgage, as you know, you can get additional benefits on taxation. Want to use the tax incentives provided in mortgage lending? That possibility is there.
What are the benefits in question, what I describe in some detail on page Priyatnosti mortgages
Let me just draw your attention to the fact that benefits for the borrower's mortgage lending is not for the fact that the borrower purchased using credit apartment: it is not enough. Benefits are provided for the loan borrower spent for the acquisition or construction of housing and the loan trust! What does it mean to "target"?
Take credit "for immediate needs" bought an apartment not trust credit: no concessions;
if, however, took credit for the purchase of real estate properties and the acquisition of its spent - and then have the right to benefits.
They say "mortgage" understand "credit".
Butter Sandwich without happens, a mortgage without collateral?
?
What do we mean by "mortgage"?
Turning to the bank for a mortgage (with the mortgage), who are interested in little collateral!
Purpose-apartment to buy a flat-needed money, their money is not enough, take the credit.
So?
(Interesting look at the person who is not drawn to the bank to get a loan and to pay bail in the apartment!)
Therefore, when a borrower is drawn to the bank for the mortgage, the employees of banks offer mortgages as well as mortgage loans is not: it is the objective of the borrower-house, the borrower mol what difference will be mortgage (mortgage) or not?
The borrower-credit: This is what you want! A mortgage in the sense of "collateral" is not a goal of the borrower.
As part of our continuing conversation, I too will not adhere so strictly correct interpretation of terms.
The aim is to purchase and, therefore, talk of a mortgage we will be as a loan, regardless of the fact whether a pledge of an apartment or not.
At the same time, draw your attention to some fundamental points:
* In the real estate mortgage as soon formalized in the borrower's property. (And not when the borrower Has with the bank.)
* Bank could not on its arbitrariness confiscating the property the borrower.
The borrower may lose its only real estate laid by the court, and then only in the event that violates the credit agreement.
And ways of acquiring apartments in installments, in which the buyer can live in an apartment, paying for only a fraction of its value, but will not be the owner of the apartment until it pays the full cost, we will not consider. This is certainly not mortgages.
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