Risks from getting mortgage assets of third parties

Mortgage refinancing recorded from the Court at Hanoi TAND shows, the case in which credit banks lend and receive secured mortgaged property is the land use rights of third parties more and more.

According to the assessment of Mr. Pham Tuan Anh, Chief of the Economic Court TAND Hanoi, with the difficult economic situation such as the present, the number of cases of credit or otherwise, the service requires the Bank's increasing debt. Notably the service collections in which mortgage lenders and FIRMS with mortgage assets of third parties is also much higher. Except block foreign banks, most of the commercial banks in the country, even big banks like Vietcombank, BIDV, Vietinbank, Agribank ... have this type of lawsuit judgments.

For example, the collection of Techcombank for an individual (Thanh Xuan district, Ha Noi), in which this personal loan of 410 million through 2 credit mortgage contracts, secured property is land use and property affixed on the ground of a family in the District of Dan Phuong (Hanoi). When the person fails to repay the loan, the Bank requires to secure the home, the family of the Earth knows, both the principal and interest of the debt of 510 million.

While according to this family, they just need to borrow 100 million and actually received only 88 million, after deducting the interest rates and fees. However, due to the correct mortgage contract is signed by this family, has secured transactions registry, should the Court declare the broadcasting rights have commercial property Techcombank in case the borrower does not pay the debt.

Or the case for Hung company loan Seabank 5.7 billion, collateral is land use and associated property on land of 3 households. After petitioner bank debt and reclaim the detected the signature of a family on the mortgage contract is forged. Refinance home mortgage from a household and others giving evidence about whether they have to repay 1.7 billion, was Deputy Director of the Albert Branch Three Family sign, of 2.4 billion that their families have the guarantee, while Albert said, testifying from the Bank at only 700 million.

In these cases, on the banking control as if they were fully implementing the provisions of the guarantee transactions like mortgage contract notarized, have secured transaction registry. However, the Bank still bear many costs in the collection process, not to mention the hassle.

Mr. Pham Anh Tuan said: "experience shows that, while bank loans and put away the GOV'T property is the property of COMPANIES or assets of relatives such as parents, brothers and sisters, then it is the loans. The case of DN a home mortgage loans where collateral is of another person, called the third party, the Bank needs to be vigilant. Meanwhile, the property loan needs only a few dozen million or 100-200 million, but the loan is not a Bank, so thanks to DN stand up the loan.

Moreover, when lending has secured property is a third party, the Bank faces many risks if not fully implementing the provisions. For example, when DN Bank loan they must be approved by the BOARD, so the banks need to check comments prequalify for mortgage in writing of the BOARD or not. But when the Bank does not check should not detect only loans ceo DN know, BOM does not know, lead to bank hard to claim to be owed.

Or household Bank loan when they mortgaged property is the land use right and property attached on the ground must have the approval of all members of the household. But there are cases of parents just sign the Bank, forgetting the children, leads to mortgage contracts null and void when there are family members aged 16 and up are not signed. Mortgage contracts not void of any other Trust Bank lending and credit risk increased.

Land use is popular collateral types, but there have been cases when the Bank received the mortgage specifies price valuation of land without homes, lead to disputes in the collection process. Not to mention, when the mortgage lenders want to increase the price of the secured property to can be more, plus Bank employees did not do the right processes, rules of valuation, leading to difficult to recover enough loans.

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