main feature is the provision of mortgage collateral.Thus, the term "mortgage" means a loan issued by a pledge of property.This type of loan collateral determines the form in which the mortgaged property remains the property of the borrower.However, in the event of default by the borrower of its obligations to the lender, the lender becomes the full owner of the collateral, taking advantage of their right to obtain satisfaction through the implementation of property.
To be sure, not always issued mortgages secured personal property of the borrower, in some cases, it may be a mortgage, in which as collateral to participate acquired property.Registration in this case occurs at the time of acquisition of the property specified in the contract.These include:
• land, excluding areas specified in Article 63 of the Federal Law;
• property used in the business;
• residential or parts of residential buildings and apartments;
• garages, garden houses, cottages and any other structure that has consumer value.
Some of the subjects of the Russian Federation provides an opportunity to get another type of mortgage.This interest-free mortgage, provided by public sector workers, who need to improve housing conditions.There is also the possibility of obtaining a mortgage large families.For many children include those families with three or more children.Some young families can also benefit from interest-free mortgage.
Very often, the majority of people there is a question about what is needed for a mortgage.Each bank before issuing a verdict in obtaining a mortgage, makes the collection and appropriate verification documents submitted by the borrower.Are mandatory - a passport, income statement, certified by the employer, the identification code.Borrower will be asked to fill out an application received the sample, which will be considered by the bank for a certain time.In the case of a positive result the borrower acquires the property.Despite the fact that the acquired property becomes the property of the borrower, it enters the collateral mortgage.
The package includes many banking organizations such service: State registration of the mortgage, the mortgage and the sales contract.
Any transactions made with the real estate is subject to compulsory registration.It involves entering the corresponding entry in the Unified State Register.In order to have registered a mortgage, you must prepare the following documents:
• a copy of the original mortgage agreement;
• also need to provide the document referred to the mortgage agreement;
• a document confirming payment of the state fee.
collected documents and statements written mortgagor and the mortgagee, served to the relevant authorities to ensure that the registration procedure was completed with the introduction of a mortgage register entry in the register.Registration of mortgage takes a month from the filing date.That is, do not have to wait long.If no errors were found, it can be assumed that the registration of mortgages completed.
