And it's perfectly legal, but completely unfair. 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 is also a possible violation. In General, termination of contract by the borrower, the procedure is quite complicated, the success of such initiatives rarely end. Financial institutions, in turn, try not to spoil its clients with mood like little things and hold back fees.
It is not surprising that modern abundance of goods and services directly presses on the brain of those who lived in the Soviet Union, forcing them to commit and make a purchase. 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. In the most positive of intentions they are trying to buy on credit, the maximum available for housing, choosing a more prestigious area.
In the most positive of intentions they are trying to buy on credit, the maximum available for housing, choosing a more prestigious area. Meaning of refinancing is that the new loan the borrower receives on more favorable terms than was the old. 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, should not be confused incomplete payment of borrowed funds with a single payment, which is still practiced by some banks. Of course, it all seems quite logical – they don't have enough money, so they try to get loans. it can change throughout the term of payment more than once. In the future, referring any difficulties or shocks is that not every borrower is able to repay such an expensive mortgage loan, which leads to the fact that borrowers start to rush, trying to refinance the loan or to change bought on credit "square meters" for cheaper housing. In General, termination of contract by the borrower, the procedure is quite complicated, the success of such initiatives rarely end. However, in fairness it should be noted the fact that people are having and older age, are not always able to boast of prudence.