The auction process related to home mortgage loans

The mortgage assets to borrow money and agree for Bank auction should you not pay the debt, the Bank has the right to decide whether you oppose.

The Bank has the right to sell the property when the auction brought the mortgage?
The House of the couple you are collateral in transactions with the Bank. When does not pay the loan, according to the rules of mortgage assets, the assets will be disposed to pay debts.

Article 6 paragraph 2 of the Decree 17/2010/ND-CP rules about who has the property of auction include: property owners, who are the authorized owner sell the property, who is responsible for the transfer of property for auction or individuals, organizations have the right to sell the assets of another person as prescribed by law.

Article 10 circular 23/2009/TT-BTP regulation who has the property of auction include:

1. The owner of mortgaged property, the person who is the authorized owner sell the property;

2. Who is responsible for the transfer of property for auction is the Agency decided to confiscate funds supplement State for exhibits, means of administrative violation according to the rule of law;

3. The Agency, organization, unit is delivered using the management or mortgage refinancing handling of presiding State assets;

4. Banks, credit institutions with regard to the secured property;

5. Executive Member, civil enforcement agencies, individuals, other organizations competent to handle other people's property through the auction of the property under refinance home mortgage of the provisions of the law;

The case, brought by the collateral to borrow money and agree to auction Bank properties. Consequently, the Bank is "who have the property auctioned".

As defined in item 2 article 38 of the Decree 17/2010/ND-CP, once that expiry of registered to participate in the auction of the property that only a registered person to buy auction property or more people registered to participate in the auction but only one bidder with a starting price of the property is sold to the person If people have mortgaged property auctioned agree. The sale of the property was conducted after the listing, announced publicly, display properties and no complaints related to the order, the procedure until the decision to sell the property.

As such, the sale or not will depend on the will of "the property auction", here is the Bank. So your objections have no value that mortgage prequalification only new Bank has the power to sell or not.

Revealing ' shocked ' about real estate mortgage loans

A mortgaged property projects is mortgaged to the Bank loan, then the Bank lending to customers buying their own apartment that project related to real estate mortgage loans.

Thus, the risk from the mortgage lenders property is real estate project will be huge, because the Bank has disbursed twice for two different loans that only one of the secured property.

For Office building projects, apartments ..., although investors have big capital to prepare, then still have to depend on the credit capital in medium and long term. , The nation's growth thanks to an important part of the growth of outstanding credit with reverse mortgage lenders that portion of outstanding credit growth generally tied to the real estate growth.

The problem is that when funding for real estate projects, risks that banks face? In the case of this loan, the borrower secured assets taken on mortgage assets is formed by loan source: property from the project. This is the huge accounting in Bank's loan structure and of the whole economy. Secured property which can be work, the building form in the future and be priced according to the structure of capital: total assets, investment estimation, estimation of exploitation ...

The property business projects usually targeted the Office buildings, apartments and aims to sell or lease. Many cases the owner recommended the Bank to support sales through stitching closed process is the combined bank loans to buy the product owner's property project by reverse mortgage information consumer credit products for the home. In this case, the customers bank loan to purchase flats and secured property is the main apartment. As such, a property but the owner and the same home loan mortgage.

Not to be mentioned, there are cases that suppliers and contractors back to mortgaged property was merchandise, materials like cement, iron and steel, elevator ... and the main repayment source is sales revenue from the project. When a borrower cannot afford the payment, the Bank conducted sweeping debt, collateral is the processing of materials, goods. But when the mortgage loans project, the entire material, the goods have to be calculated form the value of the project in the previous refinancing a mortgage. Computer, the same secured property where the value for loans based on collateral has been multiply folded 2, 3 times.

The fact noted, have suggested getting Bank loans for a project, have estimated hundreds of billions Dong. The legal procedure of the project has been completed, the owner has a permit to build and banks have loans with secured mortgage prequalification property is the entire project. After being disbursed, the owner sold the apartment project in the form of capital contribution. Those who contribute capital also is a part owner of the project.

Upon discovery of this, the Bank has halted disbursements and debt collection proceeding before maturity, the obstacles of mortgaged property, leading to the Bank's guaranteed assets no longer. Banks face new dispute.

Mortgaged property loans services in TechcomBank

Techcombank customer search with mortgage assets services in real estate, serving the needs of consumer loans increasingly diverse customers. In the psychology of consumer loans, pay the fee daily as: payment of tuition, living expenses, electricity, water, marriage, ... Techcombank launched service pack mortgage lenders with huge incentives.

The gains from mortgage lenders

• Lending support level depends on the secured assets with higher lending limit.
• Simple loan procedure, have support staff to do the procedure.
• The method of payment of the debt.

Characteristics of mortgaged property

-Type of money lending capital: VND.
-Interest loans under the Bank's rules apply to each period.
-The interest rate calculated based on actual debt balance.
-Maximum mortgage loans limit not to exceed 70% mortgage refinancing can be up to 1 billion.
-Unmatched duration up to 84 months (7 years).
-Collateral is real estate owned by the loan or the guarantee by a third party.

Conditions for mortgage loans

-Purpose loans to pay tuition, living expenses, travel, wedding, examination; other consumer ...
-The age of the borrower or guarantor from 18 to 60 years old.
-The customer must have the collateral is real estate or are guaranteed by the owner of the mortgage property.
-The client does not have the bad debt at banks.

Procedure of real estate mortgage loans:

-Consumer loan application according to the form of Techcombank.
-Household, the ID CARD of the client.
-Proven record of repayment ability of clients (labour contracts, payroll, etc.)
-Collateral records (certificates of mortgaged property use, ...)
-Use records of loans (consumer loans, ...)

Other mortgage loan services, customers can consult the website or contact directly with consultants for assistance.