What is mortgage?
Mortgage: mortgage and installment credit two meanings. Beneficiaries of the property right transfer of property to the mortgagor mortgages (banks) as a guarantee of repayment, after the repayment, beneficiaries of the mortgage property right transfer of property back to the mortgagor. In particular, mortgage refers to the buyers to purchase the building as collateral from a bank loan, buyers returned in accordance with mortgages in the manner and duration of installment payment to the Bank; the Bank charged interest at a certain rate. If the borrower defaults, Bank is entitled to take home.
home buyers mortgage loans can be divided into special and General mortgage.
narrow apartment mortgage may classification in two ways, one is just a series of mortgage contracts contained in the contract and another refers to buyers through a mortgage through a mortgage contract than. According to this concept, mentioned in the contract, except for purchasers with developers all but signed the purchase contract the contract, is narrow in the apartment mortgage.
special purchase mortgages including purchase to banks for mortgage formalities, housing prices, mortgage valuation, mortgage procedures security procedures, housing insurance, down payment, loan rates, loan term, loan repayment, default processing specific content such as articles, without specification of the apartment mortgage mechanism, there are buyers of credit guarantees. Narrow home buyers mortgage mortgage is the kernel of formalities, down payment, loan rates, loan terms and conditions of loan repayment. Special purchase mortgages directly affected parties or third parties (including real estate), (includes insurance companies, real estate agencies) direct interest. A good apartment mortgage mechanisms should narrow the apartment mortgage most efficient to implement, including service number, length, risk, equity and other aspects of content.
General of purchase mortgage not only must including narrow of purchase mortgage of all content, also including achieved narrow of purchase mortgage of directly environment mechanism, and real estate trading price mechanism, specific to told, including real estate price mechanism, and real estate trading price mechanism (main refers to trading tax and trading procedures), and real estate valuation mechanism, and Government on narrow purchase by loan of support policy (as Government discount), and narrow purchase mortgage, and Bank liquidity insurance facility for housing mortgages, defaults handling mechanism (including breach of articles), the secondary real estate market (also known as three-tier market of real estate), the legal mechanism and living benefits insurance mechanism. General purchase the core idea is to create conditions to narrow the apartment mortgage. States in accordance with their national conditions and General mortgage purchase actual understanding of the mechanism, implementation of own generalized apartment mortgage model. These differences will directly affect the level of residential development in these countries, and also to some of the State's financial, legal, economic, social and cultural mechanisms have a significant impact.
narrow apartment mortgage and broad apartment mortgage relationship is: narrow apartment mortgage is necessary for General home buyers mortgage, general purchase mortgage is a special environment to realize housing mortgage mechanisms. No special apartment mortgage mechanism exists, it cannot be called the apartment mortgage of generalized mechanism. No generalized apartment mortgage guarantee, the narrow apartment mortgage is impossible. Differences in generalized apartment mortgage mechanisms directly affect narrow apartment mortgage content and operation of the mechanism of effect, effect of narrow apartment mortgage the economic interests of both sides.
our current mortgage, generally refers to the purchase of commercial house mortgage loans to individuals. Legal relationship of the mortgage as security: auction sale in the project contract, buyer to pay a certain portion of the price to the seller, the remaining price buyer paid via loans from financial institutions to the seller. Before the certificate of completed, by agreement by the seller to the buyer on the auction of the option of obtaining loans from financial institutions and financial institutions as security. Certificate of handling after the lifting of guarantees by the seller, the buyer will be faster option under contract made to the Bank as security for repayment of the loan. Buyer to pay all principal and interest on the loan will be given priority to receive compensation. Options can be redeemed, obtained the title deed. If the buyer defaults in the loan terms, or is unable to repay the loan, the Bank is entitled to dispose of the mortgaged premises and preferential access to compensation.
to encourage buyers to purchase housing, developers requesting banks to provide mortgage loans, developers to sign mortgage agreement with the Bank, banks, developers and buyers shall sign a mortgage contract and sponsorship.