Briefly About Loans & Mortgages

Commodity loan form involves the transfer of a temporary use specific things, certain generic characteristics. This form historically existed before the advent of monetary relations. The Bank, in which you arrange a loan initially, you will not be able to prevent it, so as to extinguish the credit ahead of schedule is not prohibited. However, even then it will be necessary to observe a number of important formalities, among which is the fact that cost of urban real estate serving as collateral must not be lower than the estimated amount of the loan. If the lender illegally increased its rate of interest or decided to charge a fee for services that have always been free, it will also serve as a basis for termination of the contract unilaterally. Thus, both the lender and the prospective buyer of country property can be fully confident in the cleanliness of the documents on the lot under construction. It is obvious that the refusal of the inheritance in favor of third parties to transferred liabilities and the payment of the loan. Because of problems with re-registration of mortgage, you will need to obtain the consent of the Bank, your Bank is unlikely to agree to repay such a large loan on your own risk, not having the right collateral. Moreover, you can cancel the contract before receiving the money. As a rule, in the office of the institution to a potential borrower will provide the phone number of the financial institution partner, which he will be able to get a wide range of information about conditions of granting of the loan, interest rate and other important aspects. After 14 to 18 years and the decision on acceptance of the inheritance and, accordingly, obligations for the payment of the loan, the heir will be considered together with the guardians. As a result, the client might get the feeling that he cheated, but it will not be so. Once you join your rights and will become the full owner of the inherited property, you immediately appear the obligation to pay for someone else's loan and fend off foreign creditors. If the potential borrower has decided to purchase a vacation property in this way, a potential borrower is to start looking not financial institutions, and reputable construction company that is willing to provide such services. However, should not be confused incomplete payment of borrowed funds with a single payment, which is still practiced by some banks.

Cash loan form involves the transfer for temporary use of a specified amount of money. This form of credit is actively used by all subjects of economic relations (government, enterprises, individuals) within the country and foreign economic turnover. Cash loan no equivalent commodity-money exchange, and is the transmission cost for temporary use on condition of repayment over time and, as a rule, the payment of interest for the use of her.

Cash is the predominant form in modern conditions of economy. The court stood on your side, he must be a good reason. The debts of the testator, regardless of whether the loan is from a Bank or other debt obligation, called passive part of the inheritance. it can change throughout the term of payment more than once.

  • Commodity loan
  • Cash loan
  • Mixed form of a loan

Credit plays an important role in the regulation of the magnitude of the funds required for the Commission of economic activity. Thanks to the loan enterprises have at any time such amount of cash that is required for normal operation.