A very common situation that can happen to people during the real estate financing process is unemployment. As it is a long-term debt, it is natural that this may happen at some point in the process, but what do you do when it is no longer possible to pay the contract installments? The most complicate part of the whole situation is not being able to pay the apartment and ending up losing the property, and the only way to reverse this situation is to refinance the property . So if you are in this situation, keep reading to understand more about the process for refinancing your apartment. Cut expenses and avoid getting into a snowball situation Every month we have obligations that must be fulfille at home, such as: paying bills, shopping at the supermarket, putting gas in the car and other things.
If you have entere the refinancing process
it is important to limit your expenses very well. Therefore, during this period when you will need money to pay for your property again, avoid spending Japan Email list nonsense and even causing smaller debts to end up increasing, making the situation a big snowball. Put at the end of the paper what is a monthly priority and add what is a need during the months (if there really is one). It is important to avoid obligations increasing out of pure desire to have and not actually need. Don’t take out another loan Many people in a property refinancing situation end up becoming desperate to get the money to pay the installments again, and see the loan as a viable way to solve the problem, even more so if the borrower is unemploye.
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A complete tool for you to sell more! Reassess the debt with the bank Some financial institutions offer insurance that can be taken out separately Thailand Email List from the mortgage, but which can be used to help cover some months of payments. This type of insurance is different from that offered by the Housing Finance System (SFH) operation, which only covers the client’s death and disability and physical damage related to the property. Financial institutions also usually carry out the financing debt renegotiation procedure when the client loses income. Caixa, for example, seeks to recalculate the outstanding balance of the contract, including the borrower’s outstanding installments. Regarding the interest.