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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. Of course, it all seems quite logical – they don't have enough money, so they try to get loans. In other words, people with low incomes, why not try to live logically, and only based on their own emotions. You can, for example, can I refinancing your loan. For example, if representatives of the credit institution's opinion, the loan was obtained by fraud, and they can prove it in court, the borrower may be required to pay the full amount of the debt immediately. However, in fairness it should be noted the fact that people are having and older age, are not always able to boast of prudence. The Bank, in which you arrange a loan initially, you will not be able to prevent it, so as to extinguish the credit ahead of schedule is not prohibited. In other words, to pay the loan all heirs have accepted the inheritance, to avoid this will not succeed. Minors are considered children up to 14 years. In the most positive of intentions they are trying to buy on credit, the maximum available for housing, choosing a more prestigious area. The Bank, in which you arrange a loan initially, you will not be able to prevent it, so as to extinguish the credit ahead of schedule is not prohibited. Actually the problem is only in that the borrower did not pay attention on such an important point or didn't understand it. If several heirs, the debt they will pay together, in proportion to the inherited property. Also during these six months, you can not just abandon the inheritance, but also to transfer the right of inheritance to a third party.
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. Meaning of refinancing is that the new loan the borrower receives on more favorable terms than was the old. The only problem may occur if you want to refinance a mortgage. It should be noted that loans to purchase real estate are considered to be rational, however, some borrowers even when getting these loans manage to overreact.
- 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.