Owners, know everything about the loan buyback
The purchase of homeowner credit is sometimes the only solution to end the financial difficulties. Who can benefit ? What is the consolidation of mortgage or real estate credit? What are the advantages ?
Repayment of a home loan may place the first-time homeowner in a difficult debt situation. Job loss, children’s education, divorce, retirement further reduce the debtor’s ability to meet its financial obligations. If to this consumer credits are added, it quickly becomes unmanageable.
Depending on the case, there are two solutions: the consolidation of mortgage credit and the consolidation of mortgage credit.
The consolidation of mortgage
The consolidation of real estate credit consists in grouping all the debts into a single loan. Thanks to a longer repayment plan, the debtor obtains a significant reduction in his monthly payment. Moreover, he has only one interlocutor.
This formula is not reserved for over-indebted people. Everyone can benefit as it has many advantages. In addition to solving the problem of over-indebtedness, it makes it possible to simplify daily financial management, invest in new projects and promote savings.
The purchase of mortgage credit
The purchase of homeowner credit does not necessarily result in the mortgage. It all depends on the financial situation of the debtor. Mortgage consolidation or amalgamation involves putting the real estate into mortgage as a money-back guarantee. The amount of the new loan is based on the value of the property. In this case, the use of a notary or a mutual guarantee company is essential.
The benefits are the same as for the consolidation of mortgage. If, in addition, the debtor is enrolled in the , a restructuring plan allows the file to be cleared.
Buying real estate or mortgage loans can be particularly beneficial for certain categories. In addition to their landlord status, civil servants receive an additional guarantee from banking organizations because of the stability of their employment.