1. What is the meaning of implicit disclosure in housing loans
The calculation of compound interest is to calculate the principal and the interest generated together, which means that the interest is beneficial. The characteristic of compound interest calculation is that the unpaid principal and interest of the previous period are regarded as the principal of the next period, and the amount of the principal of each period is different during calculation.
For example, a borrower fails to pay the 3,000 yuan installment on time. Of the 3,000 yuan installment, 1,200 yuan is the principal and 1,800 yuan is the interest. The annual interest rate of the loan is 5.508 and the penalty interest rate is 8.262 (5.508 ×1.5). Since the penalty interest is calculated from the day after the deduction date stipulated in the contract, assuming that the borrower only delayed two days to repay the money, then the principal part of 1,200 yuan will be charged at 0.02295 per day (8.262/360 days ) to calculate interest, the interest for two days is 0.5508 yuan; the interest part of 1800 yuan is calculated as compound interest at 0.02295, the interest on the first day is 0.4131 yuan, and the interest on the second day is 0.02295 of 1800.4131 (18000.4131) yuan, which is 0.4132 yuan.
Borrowers need to be reminded that the interest that accrues on the unpaid interest portion every day will accrue interest the next day, so the interest portion of the overdue amount will snowball like a snowball as the arrears extend. .
In addition, when the borrower's repayment amount is insufficient, the bank will regard the borrower's first repayment as interest repayment. For example, if the monthly repayment is 3,000 yuan, but only 1,000 yuan is repaid on the deduction date, then the remaining principal of 1,200 yuan and the interest of 800 yuan will be charged penalty interest.
At present, several banks such as Shenzhen Development Bank Beijing Branch and China Merchants Bank charge compound interest on the interest portion of overdue payments based on penalty interest rates.
2. What does mortgage mean?
Mortgage refers to using real estate and other physical assets or securities, contracts, etc. as collateral to obtain a bank loan and pay off the principal and interest in installments according to the contract. The bank returns the collateral after repayment. Mortgage balance means that the mortgagor transfers the property rights of the house to the mortgage beneficiary as a guarantee for repayment. After the mortgagor pays off the loan, the beneficiary immediately transfers the property rights of the house involved to the mortgagor. During this process, the mortgagor enjoys the property The right to use the orange shirt.
The mortgage regulations in some areas of mainland China mainly have the following characteristics:
1. When establishing a mortgage, it is not required to have specific property rights, especially the transfer of ownership. , the bank only requires that the certificate of rights be handed over to the lender for safekeeping. "The transfer of the certificate of rights only means the transfer of rights", but the transfer of such certificates does not mean the transfer of ownership. For example, the real estate certificate only serves as a proof. Simply transferring the real estate certificate does not automatically have the legal effect of transferring the property rights of the house. Under current law, registration and public announcement are required for the transfer to be legally effective and the transferee to obtain ownership. The bank requires that the certificate of title be handed over to the bank for safekeeping. It does not require that the ownership of the guaranteed house be transferred to itself and that the ownership be returned to the mortgagor after the borrower repays the debt. The bank does this just to prevent the occurrence of multiple sales of one house. The mortgagor disposes of the mortgaged house in violation of the agreement, thereby ensuring the effective realization of the secured creditor's rights.
2. In the above areas, the realization of mortgage does not require the ownership of the subject matter. In practice, if the mortgagor fails to perform its obligations, that is, if the principal and interest are not repaid when due, the usual approach is for the house seller to repurchase the mortgage subject and use the repurchase proceeds to repay the mortgagor's outstanding principal and interest. If there is a third If the three people are willing to accept the transfer at 70 yuan higher than the original price, the third person should purchase it. If the above actions cannot guarantee the realization of the bank's claims, the bank can also require the borrower to correct its breach of contract within a time limit, suspend the borrower's loan withdrawal, recover part or all of the loan, impose penalty interest in accordance with regulations, and deduct money from the borrower's account. Repay the principal and interest of the loan; dispose of the collateral in advance and pay off the principal and interest of the loan in accordance with the contract. The guarantor can also claim joint and several liability in advance according to the contract and recover the loan principal and interest in accordance with the law. In the mortgage under common law, when the debtor fails to perform the debt, the creditor can definitely obtain all the rights to the subject matter.
3. In the mortgage legal relationship in mainland China, the mortgagor has the obligation to pay off the debt in installments, but this is not a right of redemption under British and American law. Since the Chinese mortgagee does not have ownership of the mortgaged property, the mortgagor's behavior is only the performance of the debt, rather than the redemption of ownership of the mortgaged house. At the same time, the mortgagor does not assume the agreed obligations, and the mortgagee cannot obtain the ownership of the house. Instead, it ensures the final realization of the creditor's rights through methods similar to the realization of mortgage rights.
4. In terms of the applicable scope of mortgage, since urban land is owned by the state, the subject matter of mortgage in mainland China is limited to urban houses and does not include land ownership. The scope of mortgage under British and American law is much wider, including not only houses, but also rights to land. According to the characteristics of mainland mortgages, we can see that mainland China has made great changes to the foreign mortgage system, changing the basic feature that the mortgage must transfer the rights of the subject matter, and it has become a mortgage that is completely different from that of Anglo-American law. form of property rights.
3. What does hidden disclosure in housing loans mean?
The so-called black mouths are some informal institutions that do not check credit reports and do not look at liabilities. They all have the same characteristics: low credit limit, high interest rate, and the borrowing time is basically 7-15 days. . It's best not to pay -2000, the interest rate is astonishingly high. Secondly, many of them are trying to sell their money, collecting applications from borrowers and selling them on other loan platforms. This means that if you just applied for a loan but failed, you will receive a lot of loan information one after another
4. What does hidden disclosure in housing loans mean?
The so-called black mouths are some informal institutions that do not check credit reports and do not look at liabilities. They all have the same characteristics: low credit limit, high interest rate, and the borrowing time is basically 7-15 days. . It's best not to apply, the limit is mostly 500-2000, and the interest is astonishingly high. Besides, it doesn’t mean that you will definitely be able to get a loan if you are a scammer. Many of them are trying to sell people like sheep, collecting loan applications, and then selling them on other loan platforms. This means that if you just apply for a loan and fail to get it, you will receive a lot of loans one after another. Reasons for loan information.