When faced with difficulties, many people think of using real estate mortgage, but what should I do if I have borrowed money before the real estate license? Can I make a second mortgage? What harm will it do? Now let's take a look at the dangers of secondary mortgage of real estate.

1. Harm of secondary mortgage of real estate (1)

1. The loan interest rate required for secondary mortgage of real estate is relatively high, basically reaching about 5%;

2. If the bank fails to repay the mortgage within the specified time, the bank will auction the collateral;

3. The amount that can be applied for a second mortgage with real estate is not very high.

Second, the harm of the second mortgage of real estate (II)

1. The use of residential mortgage loans is relatively common at present. Apply for a loan from the bank by using the real estate license, and pay off the loan within the specified time. After the real estate license loan, if you want to make a second loan, you need to act according to the regulations of the bank. Some banks do not accept second loans, while some banks only accept the real estate license of the first loan in their own bank for second loans.

2. If the real estate license is used for the second loan, there will be great risks, which is also a problem that banks pay great attention to. For example, the price fluctuation of the house is relatively large, and there are great security problems after the loan is made. If the bank accepts the second loan of real estate license, it will cause the scale of credit to increase, and at the same time increase the risk of the loan, and the consequences will be more troublesome, so it needs special caution.

Third, the conditions to be met in the second mortgage of real estate

1. The houses we use for the second loan have great value in the local market, such as high-quality houses or commercial houses, otherwise most banks will not support the second loan, after all, the risk is too high.

2. If the house is to be used for the second loan, then the house must be an existing house.

3. Only the real estate license of the new house purchased through the loan handled by China Bank can be mortgaged for the second time.

4. When making a second loan for a house, the mortgage registration needs to be done well, and the bank that chooses the loan needs to be the mortgagee of the house.

5. The owner has also handled the corresponding warranty for his house, and the insurance policy is in the charge of China Bank.

6. The local location of the house needs to meet the requirements of convenient transportation, complete indoor facilities and large appreciation space.

IV. Duration of the second mortgage of real estate

1. When the second mortgage of real estate is carried out, the bank staff will determine the duration of the mortgage according to the individual loan demand. Generally speaking, if the loan is used for personal consumption, the mortgage period is within 5 years; If the loan is used for business, the term of mortgage is within 3 years. One thing to note in this way is that the maturity date of the loan cannot be longer than the maturity date of the first loan.

2. The bank also has clear regulations on the interest rate of loans, generally implementing the commercial loan interest rate of the same grade; If it is a foreign currency loan, then the interest rate needs to be calculated according to the foreign exchange loan interest rate of the same grade. The term of the loan is controlled within one year. When the interest rate changes, the interest rate signed in the contract will still prevail. If the loan term is more than one year, when the interest rate changes, the interest rate of the loan will also change.

Now we know more about the harm of the second mortgage of real estate. If banks carry out large-scale second mortgage of real estate, it is conceivable how much consequences will be caused if there are frequent defaults.

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