Credit euphoria swept the Russian population, as in many other countries two years ago. While mortgage lenders are very loyal to the borrowers and many families arrange the loan for housing, even in cases where payments on the loan amounted to about 60% of the total family budget. However, the situation in which more than half of household income spent on debt repayment, is quite dangerous, because any reduction in the borrower's income can lead to financial collapse and an inability to pay the mortgage. What exactly happened during the crisis. To date, the problem with inability to repay the loan, taken in the mortgage bank, having a large number of the population. The economic crisis has played, in this case, the most important role. Some domestic citizens are unemployed, many of wages has fallen. At the same time, increasing the country's inflation and appreciation of the dollar led to an increase in fees for credit for people who have issued it in foreign currency, and receive wages in Russian rubles. What you need to do to people, loan repayment on the mortgage for which it became a burden? The specialists of financial institutions give some advice. First, the borrower should contact the mortgage lender, and in any case should not waste time and even more to hide. Debt is not going anywhere, and the situation could get worse many times. Employees of the mortgage banks offer several different ways, allowing the borrower to reduce monthly payments. So, by agreement between the bank and the borrower may make changes to the schedule of repayment of the loan or reducing the amount of monthly payments. The most common option is to delay payment. Grace period may be from one - two months to one year and negotiated individually with each client. Most often, the delay, which provides mortgage bank, applies only to the principal amount of the loan while interest rates are paid in the usual way. In addition, such a delay does not exempt the borrower from all sorts of penalties. To what extent would not be weighty reasons for which the borrower is unable to repay the loan, the financial institution will charge daily interest on late payment. The second option is to attempt actions the borrower to negotiate with the mortgage bank to extend a mortgage loan. With the extension of credit is a significant reduction in monthly payments. This opportunity financial institutions usually do not declare, because they have this deal is not very profitable, but, nevertheless, it is quite feasible. There are various loan restructuring program on your mortgage. Each option is a debt restructuring bankers considered individually with each borrower. Sometimes the bank to renegotiate the contract with the client for a longer time, sometimes frees the customer from the payment of fines, subject to repayment within one month. There are several other opportunities to reach a consensus between debtors and financial institutions. During the crisis, Russia's population has nearly lost another opportunity to avoid financial ruin by refinancing the loan on the mortgage to another lending institution. Today, Russia is "refinancing" loans only takes about ten banks. If the borrower's solvency problems last a long time, he remains the only way to solve the problem - foreclosure sale. In order to repay the mortgage debt, the borrower is forced to sell the mortgaged apartment yourself, otherwise, the matter will a financial institution to file a claim in court. In this case, in addition to the debt on the loan, the customer shall pay all court costs. In addition, for the speedy return of the money, the bank is likely to sell mortgaged property is not at market price, but with a substantial discount. So it emerges very unpleasant for the borrower's situation. Analysts are advised to domestic citizens to make savings at least equal to two monthly mortgage payments. It is mandatory and strict compliance with all conditions of the loan agreement. After all, even a one-day delay on an "expensive" mortgage results in a significant amount, not to mention major violations.
No comments:
Post a Comment