Read morgage loan
Mortgage loan can be a good option to take a loan, it is also called loan against property, as the name suggests, we can borrow money from the bank by mortgaging some expensive property to the bank for this. And the bank also does not charge us much interest in return, in this the bank after looking at your property, provides 50% of the rate of your property.
Should I take a mortgage loan or not?
Mortgage loan should never be taken, should you not take any loan because once you get stuck in it, you will suffer a lot, there are many hidden charges like processing fee and transaction fee. Like we told that if you mortgage a property of 1 crore, then you will get money up to 50 lakhs and for some reason you are not able to give that money, then the bank sells your property no matter what rate it goes and in profit. If sold, the bank gives you some money too.
Types of morgage loan –
1.Mortgage by contract selling – In this type of mortgage, you have to give your property to the bank and the bank gives you money by selling it on contract basis.
2.Simple mograge –
This type of mortgage is the best simple mortgage because the bank gives us the loan money easily, the bank just has to show its property ownership and the bank gives the loan, there is no need to give the ownership of the property to the bank.
3.Morgage loan by contract selling step 2-
Mortgage Loan Contract Selling Part 2 In this, the customer takes a loan from the bank through mortgage and gives his property on a bank contract basis, in which the owner can take back his property by paying full payment along with interest when he has the money. time is given.
4-Usufructuary morgage loan-
This type of loan is not much in vogue in India, in this type of mortgage, the customer takes a loan from the bank by giving his property, in this the bank does not sell your property and the customer is told that I will buy my property from you at some point or the other. Not selling property says so and bank also does not sell property.
5.Property recovery morgage-
Under this, the bank recovers its money by renting that property or making some kind of money and once the amount taken is full, then the bank transfers that property to the main owner.
6.Morgage deposit of title deeds-
This mortgage loan runs the most in India as well as outside the country, in which to take loan from the bank, the original document of our property is deposited with the bank and the bank provides 50% of the money for that property and when you take that loan If you pay Rs.