What is a "foreclosure loan"? A short-term revolving loan used to repay the borrower's original housing (including residential and commercial housing) in order to cancel the mortgage of the original housing.
For example, Xiao Zhang has a suite in Shanghai worth 2 million yuan, and he wants to sell it. However, Xiao Zhang's house still has a mortgage of 500 thousand yuan in the bank. If he wants to transfer ownership with the buyer normally, he must pay off the bank mortgage loan of 500,000 yuan and cancel the mortgage loan before he can conduct a series of transactions. So he borrowed 500,000 yuan from the online loan platform Financing Easy to pay off the bank mortgage loan, resold it after canceling the bank mortgage loan, and then paid off the principal and interest of 500,000 yuan from the financing easy platform with the sales money, and the rest of the money was Zhang San's.
I heard that this can be done?
The original owner (BOC) still has 600,000 pounds of unpaid property. If the property is sold, the 600,000 pounds can be transferred to the bank where the buyer applies for a mortgage loan (the money can be transferred from one bank to another), so that the buyer can repay the loan. The total loan amount of the buyer remains unchanged. Is there such a divine operation? Different cities and banks have different policies, and there are many things they don't know. First, both parties to the transaction apply for a mortgage loan from a bank (it can be the same bank or different banks). After the mortgage is approved, the owner applies for mortgage. After the mortgage loan is approved, the new bank pays a sum of money to the old bank, and the old bank settles the loan and obtains the sales data, so they can transfer the ownership and mortgage it to the new bank, and the new bank issues the loan. The foreclosure loan has several characteristics: 65,438+0. The amount of the foreclosed loan approved by the new bank can be slightly higher than the original owner's debt (the bank will consider paying interest penalty). 2. The amount of mortgage loan approved by the new bank is greater than the amount of foreclosed loan (interest is also considered here). 3. Mortgage loan requires a guarantee fee (there is no collateral when the new bank lends money), which is usually about 65,438+0.5%. The new loan depends entirely on the buyer. For example, the first set of down payment is 30%, and the second set of down payment is 40%, 50%, 60% and 70% (Foshan has a maximum of 60% and Guangzhou has a down payment of 70%). 5 The interest rate of the new mortgage is independent of the old mortgage, for example, the old mortgage is 15% off, and the current market interest rate is 65,438+00%, so the new mortgage will also increase by 65,438+00%, and there is no case that the old loan is transferred to the new mortgage. 6. The interest rate of mortgage loan is much lower than that of bridge loan, and the time allowed is longer.
This kind of foreclosed loan is also called remortgage.
The risk of foreclosure is reflected in three aspects:
First, the owner's moral hazard
Mainly reflected in: defrauding loans, using borrowed funds for other purposes, and transferring funds without repaying loans after repayment.
Second, the authenticity of the repayment source
Mainly reflected in: false bank loan agreements and false transactions.
Third, the property was seized by a third party.
After the platform lent money to the borrower to redeem the building, during the transaction or re-mortgage, the borrower was suddenly sealed up by a third party for other reasons, causing losses to the platform.