Withdrawing credits has become a requirement. People apply for bank loans when they want to have anything, want to close their debts or even want to go on vacation. Unfortunately, not every person is likely to use credit. For this reason, banks are doing research for their customers who come with a loan request.
In line with these studies, it is checked whether the person has any income, firstly whether they use credit or not or have social security. People who have a problem with any of these criteria receive a rejection response from large credit requests. Mortgaged loans implemented only by banks are almost a savior for those in this situation. Is mortgage loan good only in the minds of many people? It’s the question. Here’s the answer.
What is Mortgage?
Mortgage is the name of an immovable or value held by the creditor until the risk passes. If the person under credit debt makes him suspect that he will have difficulty in performing his debt, he should show a mortgage. In return for this mortgage, the bank makes the loan available. If the borrower fails to fulfill his debt, the party that put the mortgage, indeed, the bank confiscates the immovable.
This may be an immovable car, a house, a work machine or a plot similarly. The bank sends an expert for these immovables and the value of the immovable is determined. Similarly to housing loans, the bank extends loans to 80 percent of this value. Normally, the rate to be used varies from bank to bank. As a matter of fact, in some banks this rate is 80 percent, in some banks it can be 70 percent, 60 percent or less.
Should The Mortgage To Be Placed Be Registered On The Debtor?
In general, it is possible to answer yes to this question. Only a surety in a similar situation, another property related to another can be taken under mortgage in exchange for the debtor’s debt.
Indeed, the debtor person may mortgage the immovable property related to his father, mother, spouse, friend or friend. Only in this case, the approval of the owner of the immovable is also required. Therefore, the state of bail becomes the subject of word.
What are Mortgage Loans?
Mortgage loans are loans that are often used for commercial purposes or loans that are similarly used at home and car loans. If the person is to buy a house or a car, he will mortgage the real estate until the debt of this property is over.
If there is no down payment fee, he will mortgage another house related to himself or his relatives and withdraw all the purchase price of the real estate as a loan. Some banks want the immovable to be taken under mortgage to be registered on the debtor.
If the debt is not paid, is the mortgage good?
Mortgage is essentially an assurance guarantee set by the notary public. Therefore, if the debtor does not pay the debt, the bank will put this property on sale by auction method. It sells the immovable to the maximum amount it can sell and the debtor decreases from the amount. If the mortgage price does not suffice to close the debt, the debtor is taken to the monitoring by the bank. The borrower is obliged to pay the remaining amount. For this, they can benefit from the configuration services offered by the bank or apply for loan closing loans.
What Is Required To Withdraw Mortgage?
For years, many families have come to the point of disintegration due to mortgage loans. For this reason, spouses became mortgaged by using mortgage loans that are unaware of each other. Therefore, the Bank’s Regulation and Supervision Board has developed a new system for mortgage loans. Now, while the person mortgages his immovable due to debt related to himself or someone else, his wife’s approval is required.
Indeed, a man should first take his wife to the bank branch without mortgaging his own house or car, where the consent of the spouse must be obtained, and his signed consent must be obtained. With the help of this system based on family integrity, the use of mortgage loans has decreased. Only people can mortgage another immovable in their hands while buying immovable. In order to take mortgaged loans, first consent of the spouse, and then the approval of an immovable and immovable owner is required.