Today, lending is half of all assets of any bank.A growing number of credit institutions, and with them, and competition.Each bank put forward a variety of programs with attractive interest rates and terms.Today, every second family has credit commitments - an integral part of modern life.There are various types of consumer loans: car loans, goods in installments, mortgages.
Thanks mortgage can buy real estate, both in primary and secondary markets.But interest rates on mortgages in Russia is very high and not everyone can afford it (from 10 to 16.5%), in contrast to Europe, where the average rate is only 4%.In addition to interest a necessary condition of any bank - this is an initial contribution of 10%, a guarantee, a pledge of the acquired or existing property and compulsory insurance.In the case of non-payment and the formation of large debt the bank may send a notice of termination of the contract.Of course, the housing in our country is very expensive, but a lifetime to take and pay for someone else's apartment does not want to - guided by this, some citizens, not commensurate their income, burden themselves with debt, and subsequently all their dreams crumble like a matchbox.
in Russian law clearly stated the process of issuance and repayment terms of the mortgage, but, despite this, the lenders have the right to nominate their own requirements for borrowers.Before taking someone else's money, the borrower must be fully acquainted with all the terms (contract) very carefully, ask the employee to calculate the payment schedule, find out what the commission and penalties are levied when a late payment, and to clarify the question of the possibility of early repayment (in some banks isa moratorium on the early closure of the debt).
reasons for termination of the contract
Termination of the credit agreement with the bank in the case of the sale of real estate mortgage, it is impossible to make money on the loan account.In this case, the bank must send notice of termination to the borrower or to warn him orally.In case of disagreement of one party to terminate the contract, the other party may apply to the court.Before you sign the documents, the borrower should be familiar with the arrangements for payment and the ability to terminate the mortgage contract, otherwise it will lead to large financial losses of the borrower.
termination of the mortgage agreement made in violation of the obligations of the parties.If both sides find a compromise and mutual agreement will make the corresponding amendments to the contract, then the termination of the contract is not required, and it does not lose its validity.The bankruptcy of the bank is not the main reason for the contract termination.At the end of this credit institution is obliged to send notice of termination to the customer.If not, the borrower may apply to the court, which will make the best solution - the law does not spelled out clear rules on the subject.
usually initiated termination serves the credit institution, but there are cases where the borrower apply to the bank for cancellation of the contract.If you see that a bank violates the terms of the mortgage contract, or for no apparent reason, sends you a notice of termination of the contract, it is better to ask for help in the company dealing with such cases, which will be able to understand this delicate matter.These companies specialize in restructuring loans, and even purchase the property, located pledged to the bank.
If the borrower for an indefinite period is not able to repay the debt, he must immediately inform the Bank in order to avoid penalties.You may be offered several options for solving the problem: the restructuring of the mortgage or the termination of the contract.
