So, you have not paid a mortgage loan on time? What happens next? Most people can say that the bank immediately takes an apartment or house. However, first of all, the cause of non -payment is established. If in this case there was an insured event, then the balance of the loan is paid by the company. Such precedents have already met.
However, insurance cases do not include a decrease in the level of income of the borrower or loss of work by him. Therefore, in this case, it makes no sense to hope for an insurance company. What to do? You will need to go to the bank’s department, which is dealing with mortgage issues, and if difficulties with finances are temporary, then the bank may slightly delay the payment or revise and change the scheme for which payments are made. But in this case, the action will not help when you will show the bank employee excellent repair of apartments photo, which you have already made in a new apartment.
Each bank considers each case in an individual approach. And most often the bank goes to meet the borrower. But if the conditions of the bank do not become better for you or you cannot continue to repay the loan, then you will be forced to sell the apartment. The bank, which must consent to the sale will also participate in this matter. When buying an apartment, the buyer acquires real estate at a market value, from which the bank subtracts the debt and interest on the loan, as well as fines. All participants are satisfied: the buyer receives an apartment, the bank – repayment of the loan, and the borrower takes the rest of the money.