How a real mortgage works

How a real mortgage works A mortgage loan consists of receiving a certain amount of money -capital- from a bank in exchange for the commitment to return said amount, plus the corresponding interest -based on the interest rate-, through the periodic payment of quotas that They are usually monthly. As a guarantee of payment, the property acquired is also offered. This is...

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How a mortgage loan works

How a mortgage loan works When deciding to buy a house or apartment, many people wonder how a mortgage works, what steps are necessary to formalize it and to choose the best option, because this is the financial tool that most people use to form heritage. The conditions of the mortgages are negotiable and nothing prevents asking for offers in several financial institutions...

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Notas comunes de las hipotecas mobiliarias

Common mortgages notes The most perfect description of the mortgaged property is required The title of acquisition and state of charges must be indicated. Recalls the Resolution of the DGRN of April 2, 2013, [j 1] that the chattel mortgage is reserved for those goods in which its identification is more perfect, considering susceptible to be taxed with chattel mortgage only...

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Notes on the reverse mortgage

Notes on the reverse mortgage It is not about explaining in depth what is a reverse mortgage, nor its advantages and disadvantages. Perhaps it would be best to read the article of the Ministry of Labor with the title Reverse Mortgage and similar figures, although regarding the reference to expenses is published before the suppression of the tax of documented legal acts...

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Admission of the unilateral mortgage

Admission of the unilateral mortgage The admission of the unilateral mortgage was consecrated by the current Mortgage Law (LH) which in article 141, among the voluntary mortgages, cites the one constituted by unilateral act of the owner of the mortgaged property. The precept develops the art. 237 of the Mortgage Regulation (RH). That is, not only unilateral mortgages are...

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A traditional principle has been that with a mortgage you can only guarantee an obligation. This must be understood in its correct sense: thus, in the frequent case of a mortgage loan, what was meant is that a mortgage could only guarantee a specific loan; and, in general to an obligation would correspond, in his case, a mortgage. But, even in the case of a mortgage-a...

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Characteristics of legal mortgages

Characteristics of legal mortgages Voluntary mortgages are defined in art. 138 of the Mortgage Law (LH), however there is no precept that defines the legal mortgages, limiting art. 158 of the LH to point out that legal mortgages are those expressly admitted by the laws with such character and that the persons in whose favor the Legal Mortgage Act grants will have no other...

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How do I cancel mortgage insurance?

How do I cancel mortgage insurance? Law for the protection of homeowners In general terms, the lenders / investors will allow you to cancel the ("private mortgage insurance," or private MI, for its acronym in English) when you have accumulated sufficient ownership capital in the home. Since at MGIC we insure the provider, we can not cancel the MI coverage at the request...

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The mortgage process

The mortgage process Verification of assets. Credit reports Insurance applications. Many home buyers are wondering where the process begins and where it ends. To help better understand the process, we have outlined the basic steps involved in buying a home. The length of time will vary depending on the geographic location, the loan, you and the institution that...

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What is mortgage insurance

What is mortgage insurance For most buyers, the biggest obstacle in obtaining their own home is the advance payment. Private mortgage insurance ("private mortgage insurance," or private MI) allows you to buy a home with a lower advance than would be necessary in other situations. In general, lenders and investors require mortgage insurance for loans with advances of less...

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Legal mortgages are those that the Law gives the right to demand in certain cases, in guarantee of interests in need of protection.

Legal mortgages are those that the Law gives the right to demand in certain cases, in guarantee of interests in need of protection. Content 1 Characteristics of Legal Mortgages 2 Legal mortgages allowed 2.1 Examination of the most important cases 2.1.1 Legal mortgages by dowry or paraphernalia 2.1.2 Mortgage for children under parental authority 2.1.3 Mortgage by reason...

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The Mortgage Privilegium VIP of Banco Mediolanum, leader of the ranking of cheaper mortgages

The Mortgage Privilegium VIP of Banco Mediolanum, leader of the ranking of cheaper mortgages The Mortgage Privilegium VIP is once again the cheapest mortgage in the market, just above the Mortgage Select of Liberbank, which occupies the second position of our 'top 10'. Both entities offer a differential of 0.85% to those who need financing for the purchase of a home. However,...

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mortgage without commissions and save more than 2,000 euros

mortgage without commissions and save more than 2,000 euros Some banks offer mortgages from Euribor + 0.99% with no opening, novation or cancellation fees THE WORLD When a bank gives us a mortgage, it charges us the "favor" for three main avenues: applied interest, life and home insurance that almost all mortgages "encourage" to hire, and commissions which are paid...

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How to get a mortgage 100% financing?

How to get a mortgage 100% financing? A bank that finances up to 100% of the value of a property is not easy, since it is an operation that, due to its characteristics, has a higher default risk. That is why the maximum that the entities usually provide is up to 80% of the valuation or purchase value (the lowest of the two) when a first home is acquired or up to 70% when...

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This is how banks will make mortgage loans more expensive to cover the costs of formalization

This is how banks will make mortgage loans more expensive to cover the costs of formalization The bank is already designing the strategy to face the last front it has open. After the European blow that forces the sector to return all the money overcharged by the floor clauses from the beginning of the mortgage, also must assume part of the expenses of formalizing the mortgage...

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