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Briefly About Loans & Mortgages
Commodity loan form involves the transfer of a temporary use specific things, certain generic characteristics. This form historically existed before the advent of monetary relations. If the lender illegally increased its rate of interest or decided to charge a fee for services that have always been free, it will also serve as a basis for termination of the contract unilaterally. Unfortunately, justice is not a legal concept that what is called "the matter will not sew." Another example is when a borrower cannot demand cancellation of the contract, although such a desire it occurs and relates to floating interest rates. However, even then it will be necessary to observe a number of important formalities, among which is the fact that cost of urban real estate serving as collateral must not be lower than the estimated amount of the loan. The Bank approves his application, but includes in the credit agreement a lump sum payment for the issuance of money. Statistics show that a huge number of people suffering from creditmany present among today's youth, who grew up in the conditions established capitalist relations. However, if the Bank is not going to meet you have to go to court. However, in fairness it should be noted the fact that people are having and older age, are not always able to boast of prudence. For example, the amount of this payment of 10%. If the Bank delays the borrowed funds or provides incomplete, then the borrower may require the Bank to comply with the terms of the contract, or to apply to the court to terminate the contract. Statistics show that a huge number of people suffering from creditmany present among today's youth, who grew up in the conditions established capitalist relations. So before you accept the inheritance, think about whether you need a new Maserati in the loan if yellow Kalina still regularly serves.. Once you join your rights and will become the full owner of the inherited property, you immediately appear the obligation to pay for someone else's loan and fend off foreign creditors. Financial institutions, in turn, try not to spoil its clients with mood like little things and hold back fees.
Cash loan form involves the transfer for temporary use of a specified amount of money. This form of credit is actively used by all subjects of economic relations (government, enterprises, individuals) within the country and foreign economic turnover. Cash loan no equivalent commodity-money exchange, and is the transmission cost for temporary use on condition of repayment over time and, as a rule, the payment of interest for the use of her.
Cash is the predominant form in modern conditions of economy. As a rule, in the office of the institution to a potential borrower will provide the phone number of the financial institution partner, which he will be able to get a wide range of information about conditions of granting of the loan, interest rate and other important aspects. However, among creditman are present and those citizens who have seen the Soviet power, with its queues, coupons and deficiencies of essential household goods. The only problem may occur if you want to refinance a mortgage.
- Commodity loan
- Cash loan
- Mixed form of a loan
Credit plays an important role in the regulation of the magnitude of the funds required for the Commission of economic activity. Thanks to the loan enterprises have at any time such amount of cash that is required for normal operation.