Sep
15
Filed Under Business Opportunities
Richard Blake asked:
In the past two years, Spain has experienced a cycle of change with respect to its financial system especially concerning the mortgage.
Thus we have seen that the borrowing family situation has become tough, because the level of expense has increased, so we find that income is not enough and does not cover our total financial liabilities. This is because as the value of the home each year has increased, we may request further permanent loans, either to reform housing, car purchase or spend for the holidays. When the stock market has began his upward climb, the shares rose to a high percentage significantly affect the solvency of the families. How can we solve this?
First, negotiate with the bank through a novation or subrogation of the mortgage, increasing the amortization period or improving the conditions of the loan.
Another tool is the use of online foreclosure moratorium ICO, targeting those who are unemployed. These permanent loans vary from 500 euros per month share of the mortgage.
We may also make use of a total restructuring of our debt: short and long term.
The idea is to form a new mortgage, canceling all the previous loans and pay one fee. If we increase the repayment period and become short-term debt with high interest debt with longer-term mortgage interest, linked to the consumer price index, which is currently less than 1.90% per annum, contributed to a substantial decrease in the monthly fee.
Here we have been trying to show you the advantages and disadvantages to a reunification of debts, but we believe that in these times of crisis, the most important thing is to ensure that our housing and we can cope comfortably with our financial commitments.
HERSHEL
In the past two years, Spain has experienced a cycle of change with respect to its financial system especially concerning the mortgage.
Thus we have seen that the borrowing family situation has become tough, because the level of expense has increased, so we find that income is not enough and does not cover our total financial liabilities. This is because as the value of the home each year has increased, we may request further permanent loans, either to reform housing, car purchase or spend for the holidays. When the stock market has began his upward climb, the shares rose to a high percentage significantly affect the solvency of the families. How can we solve this?
First, negotiate with the bank through a novation or subrogation of the mortgage, increasing the amortization period or improving the conditions of the loan.
Another tool is the use of online foreclosure moratorium ICO, targeting those who are unemployed. These permanent loans vary from 500 euros per month share of the mortgage.
We may also make use of a total restructuring of our debt: short and long term.
The idea is to form a new mortgage, canceling all the previous loans and pay one fee. If we increase the repayment period and become short-term debt with high interest debt with longer-term mortgage interest, linked to the consumer price index, which is currently less than 1.90% per annum, contributed to a substantial decrease in the monthly fee.
Here we have been trying to show you the advantages and disadvantages to a reunification of debts, but we believe that in these times of crisis, the most important thing is to ensure that our housing and we can cope comfortably with our financial commitments.
HERSHEL
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