sleepinndenvertech.com http://www.sleepinndenvertech.com My WordPress Blog Tue, 19 Mar 2019 16:12:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Loan with Property as Collateral http://www.sleepinndenvertech.com/2019/03/19/loan-with-property-as-collateral/ http://www.sleepinndenvertech.com/2019/03/19/loan-with-property-as-collateral/#respond Tue, 19 Mar 2019 16:12:25 +0000 http://www.sleepinndenvertech.com/2019/03/19/loan-with-property-as-collateral/

Without collateral, the banks do not issue loans. What is used as collateral depends on the type of loan. In a car loan, the car could serve as security. Anyone who wants to buy a home, gets a loan with property quickly approved as security. If the payments stay off, the property is auctioned off and the bank gets its money back in this way.

The property as security

The home can serve as security not only for a real estate loan. If no other collateral is available, then the banks like to take a property as collateral. However, one should already wonder if this step is necessary. Quickly the house comes under the hammer and the family sits in the street. It should be useful if you want to offer his property as security. A real estate loan would be the only reason for this step.

Real estate loan

Real estate loan

The real estate loan is a long-standing affair. Not many consumers can pay their own home out of pocket. Therefore, many resort to a loan with property as collateral. This is quite appropriate, because it must be paid completely different loan amounts. A real estate loan is not given so lightly. The banks are checking exactly the financial conditions. It is ideal if partners apply for this loan together. Both must be working. Added to this is the matter of equity. Anyone who wants to buy a home should have a share capital. There are not many banks offering financing without equity. The financed property serves as collateral.

This loan with real estate as security is limited to a term of ten years. After that, the question arises whether a follow-up financing is necessary or whether the remaining amount for the purchase is immediately available. A real estate loan is characterized by low interest rates. But he is earmarked. For other wishes he can not be used.

This also applies to online banks. There are loans that are tied to the purpose. The real estate loan is one of them. But before you put too much pressure on yourself, you should think twice about whether the monthly installments can be paid. One should keep in mind that events can occur during the term which make it impossible to continue to pay the installments. A large amount of equity reduces this risk, because the loan amount is then lower.

The insurance

The insurance

So that in case of emergency, the family is not driven into financial ruin, a loan with real estate as collateral should necessarily be secured by a corresponding insurance. This can be a residual debt insurance, which takes over the continued payment of installments in the event of death, illness or unemployment. A life insurance is also part of the hedge.

The worst case occurs when one partner falls away through death and the other can not afford the installment alone. If the credit is well secured, then the bank does not need to collect the property as a pledge, if it comes to financial difficulties. However, all calculation examples are free, if a good credit rating is not available. Despite the property as collateral, there is no loan.

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Loans from usurers: criminal penalties, how and why to avoid ”loan sharks” without collateral’ http://www.sleepinndenvertech.com/2019/03/01/loans-from-usurers-criminal-penalties-how-and-why-to-avoid-loan-sharks-without-collateral/ http://www.sleepinndenvertech.com/2019/03/01/loans-from-usurers-criminal-penalties-how-and-why-to-avoid-loan-sharks-without-collateral/#respond Fri, 01 Mar 2019 14:07:26 +0000 http://www.sleepinndenvertech.com/2019/03/01/loans-from-usurers-criminal-penalties-how-and-why-to-avoid-loan-sharks-without-collateral/

When one is desperate for funding, one can unfortunately encounter the so-called usurious loans. Let’s see why it is good to avoid the “loan sharks” without guarantee and above all how to avoid them, and that is all the valid and legal alternatives that will allow us to get the money we need in the shortest possible time.

Loans from usurers: why avoid “loan sharks” without guarantee and penal sanctions

Loans from usurers: why avoid "loan sharks" without guarantee and penal sanctions

If you are looking for a sum of money, the solutions to get them are different. In some cases it may happen that you have to face an unexpected expense, for which you can not wait more than 24 hours. In this case we can hardly find the loan that is right for us by contacting a bank, due to the time needed to assess the customer. For this reason, the ideal solution can be to rely on private individuals. Loans between individuals are completely legal, but it can happen that you run into so-called loans from usurers. As defined by Italian law, a usurer loan is a loan with a too high interest rate. Searching for internet funding you can not know who you are addressing and for this reason it is good to be very careful. Unfortunately, some individuals who have a large enough amount of money can take advantage of people who are desperate for a loan, offering it to extremely unfavorable conditions for the client.

Those who offer this type of financing are called “loan sharks “. Why is it good to stay away? First of all because by accepting the conditions that are proposed to us we will go to pay an excessively high price to get the amount of money we need. In addition, in the event that after a few months we find ourselves in difficulty in dealing with the repayment installments, it may happen that the loan sharks get the money we owe them, for example, with the illegal confiscation of assets. How can we identify a loan from usurers? The characteristic that determines that a loan is illegal is the interest rate applied. Italian law defines the usury threshold for each of the types of financing defined by law. In particular for personal loans, the fixed wear threshold is 16.81%. In the event that the loan you received provides a percentage of annual interest that exceeds the usury threshold, you can proceed with the report of the loan shark who lent us the money.

Another case in which we can find loans for usurers is when we do not have the necessary guarantees to have access to credit. For any form of financing are in fact provided for the requirements, which will be more or less restrictive on the basis of the credit institution to which we rely. Although usually fewer problems are found to obtain them, even in the case of private loans it is necessary to present some guarantees, without which we will not have access to credit. For this reason, if someone offers financing without guarantees, it is good to be very careful. The penal sanctions provided for by the Italian law concern above all the compensation of the victims of usury of the sums of money already paid, both as regards the interest and the repayment of the capital loaned. Therefore, since it is a form of financing prohibited by law, the individual who has suffered the fraud will not be required to return the money received. Furthermore, for the loan shark, a penalty ranging from 2 to 10 years of imprisonment and a fine ranging from 5,000 euros to 30,000 euros is provided for by law.

How to avoid loans from usurers: better financing from individuals

How to avoid loans from usurers: better financing from individuals

We have therefore seen how important it is to stay away from those who offer us so-called usurious loans. But how can we do if we need financing but we do not have the necessary guarantees? In this case there are some forms of private loans that are completely legal and that we can choose even without having special guarantees. The best private loan is the so-called loan between relatives. Especially if the amount of money we need is not particularly high, we can ask for funding from one of our relatives. This type of loan is completely legal and provided by law, provided that a contract is stipulated in which the personal data of both parties must be specified, the amount that is given and the date on which the transfer of money takes place. As regards the repayment procedures, the number of installments envisaged and the interest rate applied must be specified. In some cases it may happen that those who lend us money do not intend to set any interest. This is the case, for example, of a father who lends money to a child, and therefore speaks of a non-interest bearing loan.

The contract must obviously be signed both by those who receive the loan and by the one who provides it. When the sum that is paid in this way is particularly high, the advice is to turn to a notary to register the contract before witnesses who will sign the document at the bottom. This type of private loans is undoubtedly the best ever, especially if the loan is non-interest bearing. In any case, the great advantage of this form of financing is that it can be obtained without any guarantee, as it is an agreement based on mutual trust. Unfortunately, especially if you need a particularly large amount, it is very difficult to find someone willing to offer us financing.

The solution that can be used in this case is that which takes the name of ” social lending “. The social loan is a form of financing between individuals that is managed by various communities in which they come into contact with those who need a loan with private individuals willing to invest a more or less important sum. The main platforms of social lending is such Prestiamoci, Smartika, Soisy and Blender, although on the web you can find the others. The procedure for applying for a loan is very similar to the case of loans that we could request from a bank. The platform will “hide” us in some way that funding will be provided to us by various private individuals, each in a certain percentage. Therefore the applicant will receive the desired amount of money on his current account. Based on the expected interest rate we will have to pay the repayment installments just as if we were to return it to a bank, and the system will be concerned with dividing it among the various investors.

 

 

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Collateral for the loan: which assets are suitable? http://www.sleepinndenvertech.com/2019/02/23/collateral-for-the-loan-which-assets-are-suitable/ http://www.sleepinndenvertech.com/2019/02/23/collateral-for-the-loan-which-assets-are-suitable/#respond Sat, 23 Feb 2019 16:10:44 +0000 http://www.sleepinndenvertech.com/2019/02/23/collateral-for-the-loan-which-assets-are-suitable/

Anyone who wants to take out a loan or a loan from a bank is usually asked what collateral or collateral he can provide. These are made available to the bank and influence the lending rate decisively. Particularly suitable are real estate or the assignment of property rights.

Real estate as collateral

Real estate as collateral

The most stable assets are usually real estate. Often, the loans are used to finance the construction or purchase of real estate. As the real estate can not be deposited with the bank as collateral, the real property is encumbered with rights for the lender. For example, the bank will receive a prerogative in case of a possible auction of a property in order to hedge the repayment of the loan granted.

The most common security rights here are the mortgage and the mortgage. In the case of a mortgage, a loan is secured by the registration of a mortgage in the land register linked to the land. This mortgage remains registered even if the property is already fully paid off. The removal of the mortgage must be requested separately.

The advantage of these land rights is that they can be used over and over again, even if the loan has already been repaid. This means that if a mortgage of € 20,000 is registered and remains, it can be used again and again as collateral. Since real estate is very stable in value, banks gladly accept these as loan collateral. However, deductions are made. That is, the depreciation of a house or apartment is considered by the banks and calculated at about 1% of the value per year.

Property rights as collateral

A frequent loan security in the search for credit is the assignment or pledging of property rights. For example, the rights to life and pension insurance fall under property rights. On the other hand, the term is often used in connection with securities, ie shares.

Particularly noteworthy here is the assignment of surrender values ​​of life insurance. These surrender values ​​are available to the lender after the assignment. The repurchase values ​​have the advantage that they increase steadily with regular premium payments and thus become more valuable.

But other securities or savings deposits can serve as collateral. This is usually done by pledging them to the lender. The sole lender has the sole right of exploitation. If savings deposits or fixed income bonds are stable in value, equities may vary in their value.

Guarantee as collateral

If real estate and property rights are insufficient to secure a loan, the guarantee by a third party is another option. There are different types of guarantee.

  • Either the guarantor completely takes over the responsibility, so in case of insolvency of the borrower alone has to pay the outstanding installments.
  • Another option is the so-called partial guarantee. Here, the guarantor is liable only for a predetermined portion of the borrowed credit.

Gold as collateral

Gold as collateral

Precious metals as a security for loans are rather unusual nowadays, since the storage and valuation of the physically existing valuables is too costly. Possible is a so-called goldymight, in which gold, silver and Co. are pledged as collateral. The mortgage lending value is a maximum of 80 percent of the actual value. It should be noted that, especially for coins, the collector value is often higher, so that a sale can be worthwhile than the loan.

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