Mortgage – sometimes the only way to get your own corner. Given that Russian banks offer extremely unprofitable conditions for such lending, it continues to be in great demand among citizens. However, before daring to and decide on such a responsible step, it is worth carefully considering your financial capabilities for many years ahead. But not everyone can predict future events.
How to refuse a mortgage taken
It often turns out that the borrower, due to unforeseen circumstances, loses his solvency. This can contribute to health problems, work reduction, divorce, death of the spouse. Of course, if financial difficulties are short -term, then you need to ask the bank to postpone payments or refinancing. For good reason, a commercial organization can meet and provide a credit holiday for up to six months. Such an outcome of events is the most favorable for both sides: the bank will soon receive a cash profit due to it, the client will not lose the laid housing.
But if the borrower is sure that in the near future his monetary condition will not improve and monthly payments will be overwhelmed, then you should refuse a mortgage. You can do this in several ways.
Termination of the contract in court
Everything is simple here – the borrower ceases to fulfill his debt obligations to the bank. As a result, if you do not solve the problem together with the creditor, he will sue. With this course of events, it is likely that a mortgage housing will impose a penalty and soon you have to leave. Lenders in these situations often require imposition of fines for losses incurred. It is worth being prepared for the fact that this requirement will be satisfied, that will incur the next expenses.
This is not the best outcome of the circumstances for the debtor, since with such actions his credit history will be spoiled. In the future, he is unlikely to approve of a consumer loan at any bank.
Sale of mortgage housing
Under the current law, sell real estate in a mortgage three years after its purchase.
How to refuse a mortgage taken
But, it is worth knowing that such housing is sold much worse. Buyers are likely to choose an option without encumbrance. Therefore, often apartments located in a mortgage are sold at a cost much lower than a market. Here you need to calculate everything, since there is a chance to sell housing, and due to low revenue from the transaction, it is still possible to remain a banking debtor.
Cooperation with a banking organization
In this case, the borrower appeals to the structural branch of the bank in order to refuse a mortgage agreement. Then he is informed about all the documents that should be provided in the near future. After that, the client must write an appropriate statement of refusal of a mortgage. After the decision is made, the bank is preparing for the sale of burdened real estate. The debtor will be considered completely exempted from his obligations to the creditor only when he pays for the penalty and possible fines.
In any case, it is advisable to refuse a mortgage in the first half a year after signing the contract. If the borrower understands that the lifted burden is overwhelmed to him, and the monthly payments are too high and strongly hit the budget, then to continue to make deductions to the creditor is most likely pointless. In another situation, when after the conclusion of the contract it took more than one year, you should not easily abandon mortgage real estate. To lose it will be very offensive. In this case, all kinds of additional sources of income and other permission routes should be sought in which housing will not be sold by the bank.