When buyers encounter some urgent shortage of funds, one of the channels for them to get a large sum of money quickly is to choose to sell their houses. However, in real life, even if your house is of high value, if you sell it urgently, it will be lower than the market price, and the buyer will lose a lot. Second, mortgage should pay attention to these ways to share the urgently needed money and sell the house quickly.

A quick way to sell a house with urgent money

If buyers want to sell their houses quickly and get a sum of money, but don't want to sell their houses too cheaply, they can apply to the bank for two mortgage.

The so-called secondary mortgage refers to the act of applying for a loan again in the process of mortgage loan, which is also a brand-new mortgage loan service for banks. When the house is in the second mortgage, the bank will re-evaluate the value of the house according to the principal and interest repaid by the owner, and apply for a loan from the bank again with the value after deducting the loan balance from the evaluated price as collateral.

Two mortgage housing loan amount = housing value * mortgage rate-original loan principal balance. The value of the house is compared with the original purchase price of the house and the evaluation price at the time of secondary mortgage, whichever is lower. The mortgage rate of secondary loans mortgaged by commercial buildings shall not exceed 50%.

However, we need to remind you that the repayment requirements in two mortgage will be very strict. Once the borrower fails to pay, it is difficult to negotiate with banks or lending institutions, so it is basically impossible to apply for deferred repayment. At the same time, banks and lending institutions can directly request the court to auction the borrower's collateral.

The above is the related content sharing of "the fastest way to sell a house with urgent money", hoping to help everyone!