Ready for Reading » cancellation http://www.ready-for-reading.com Financial Services Articles Tue, 06 Apr 2010 02:10:10 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 The value of the cancellation http://www.ready-for-reading.com/mortgage/the-value-of-the-cancellation.html http://www.ready-for-reading.com/mortgage/the-value-of-the-cancellation.html#comments Tue, 24 Mar 2009 16:07:38 +0000 admin http://www.ready-for-reading.com/?p=64 The value of cancellation given by the debtor as security for the payment of the loan has been made easier. Before the legislation, to cancel the guarantee was required for a procedure with three stages:

  • The early repayment of the financing in full;
  • A deed by which the bank instructed the notary to proceed with the cancellation;
  • The execution of the cancellation by the Territory.

The simplification comes from the fact that it is now possible cancellation of the guarantee as a direct result of such termination of the loan. In this regard, the bank is obliged to give the customer a receipt indicating the date of termination of the loan and transfer within thirty days of the Conservative (the office of public real estate records), the provision without applying any burden. The conservative, received the notice, shall cancel the loan.

]]> http://www.ready-for-reading.com/mortgage/the-value-of-the-cancellation.html/feed 0 The subrogation of the original creditor http://www.ready-for-reading.com/mortgage/the-subrogation-of-the-original-creditor.html http://www.ready-for-reading.com/mortgage/the-subrogation-of-the-original-creditor.html#comments Thu, 12 Mar 2009 15:20:13 +0000 admin http://www.ready-for-reading.com/?p=62 Through subrogation enables the borrower to replace the original creditor (i.e. the lender), without need for consent of the latter, subject to the payment of the debt.
The subrogation performs the so-called portability of the loan, which allows the borrower to replace the bank with which he has signed the loan contract with a new bank, which for example offers the best conditions, while maintaining the mortgage was originally formed. In the case of transfers of this type is no longer required the cancellation of the old warranty and activation of a new, resulting in reduced costs of Notaries. The new bank will pay the outstanding debt and to replace the old one.

]]> http://www.ready-for-reading.com/mortgage/the-subrogation-of-the-original-creditor.html/feed 0 What to consider when you apply for a mortgage http://www.ready-for-reading.com/mortgage/what-to-consider-when-you-apply-for-a-mortgage.html http://www.ready-for-reading.com/mortgage/what-to-consider-when-you-apply-for-a-mortgage.html#comments Tue, 23 Sep 2008 11:23:37 +0000 admin http://www.ready-for-reading.com/?p=17 The number of stages that make up the life of a mortgage is high and inside of each can be hidden dangers that it is better to find out before choosing a final in a bank rather than another. Let us in brief summary by combining them into two periods: the application of the loan, the original and the repayment of the loan, the following year.

Main phases which characterize the period of the loan request:

• the application;

• technical expertise;

• the contract in the presence of a notary;

• mortgage registration;

• obtaining the loan.

The main phases which characterize the period of repayment of the loan are as follows:

• payment of only interest for the period of grace that technically, that may precede the actual beginning of the repayment of installments scheduled;

• periodic payment by installments monthly, quarterly or half yearly, technically called the amortization period of the loan;

• after payment of last installment cancel the loan, which must be permitted by the bank, through a document that technically is called a declaration of consent to the cancellation of mortgage.

Each stage has its costs that we need to know before you begin to compare banks with each other.

• Cost of inquiry, which reimburse the costs of steps and application expertise, some banks are asking up to 500 euros, while others heralded figures much lower (even 150) to attract customers in this phase is very important to know how to negotiate between bank and the bank and seek agreements that create discounts for the customer.

• Notaries fees, which depending on the bank and the agreements with the notary. and can vary greatly and not always the bank will know.

Sometimes the customer earns more just paying the notary in accordance with the bank notary in force, which pays small costs of inquiry. The first two costs are to be contracted together.

• Rate actually be paid, which depends in part on the type of interest rate that you pay to the bank. The types of rates are: fixed rate, which remains the same for the entire duration of the loan regardless of what happens in the financial market, and variable rate that rises and falls along the trend of some financial indicators taken as a starting point reference.

• Interest on arrears, the additional cost due to the bank in case of delay in payment of installment.

• Penalty for early termination of the loan, payable to the bank if the customer wishes to conclude the first period of depreciation;

• Cost of cancellation of mortgage, which are normally charged to the customer of the bank.

It also appears important for the customer of the bank proportioning the regular installment of the loan to those who are your chances, looking both to the amount of each installment is how many times in one year he must pay, because he knows that after 2-3 semi-annual installments are not paid, or 9-12 monthly installments, the bank began using the practices and conditions that lead to the lawyer forced sale of the collateral put in, frustrating the efforts above.

In case of difficulties to pay it is useful to talk to the bank because it actually allows short periods of flexibility in payment.

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