Jumat, 20 November 2009

Some Facts You Should Know

After observing the market for the last two years, an important lesson to be learned is that not all mortgages are created equally. The importance of the deal is emphasized for the people who had to suffer through the hardships of unpaid pret immobilier and then a lost home.

Thus, there are terms to be understood by the borrowers before he takes the decision for mortgage so that in future his family is not left homeless on the streets.

Another common term used for mortgage is simulation pret. The property being purchased by you acts as a guarantee for the payment of the money you are borrowing. Presently, the payment for your house is being made by the lender and he keeps its possession as insurance till you make the final payment for the money including the interest.
Thus, if you fail to make the payment of the agreed amount the lender is legally eligible to take the possession of the property.

It does not always happen that the lenders take the possession of the property because in many cases the buyers move out voluntarily. This is because of improper planning of the finances available and not putting any savings as deposit. Thus when the price of the property dips the buyer moves out.

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