Mortgage crisis is not far off

Mortgage crisis is not far off

The crisis in mortgages for the first time spoke of the former Soviet Union. After many years the prices for housing in the Baltic countries, they collapsed. Analysts from Lithuania, Latvia and Estonia believe that the same may soon have to wait and in Kiev.

The cost of housing has grown in the Baltic countries from 2004 to 2006, as rapidly as we have in Ukraine. This process have contributed to the banks that were engaged in granting mortgage loans to low-cost, well, well warmed and speculators market. Second buy housing at the initial stage of construction, and after already resold it after putting the house in operation. All of these factors are pushing up the prices up every month at 5% and higher, until, until prices reached a level where to buy housing was very much expensive.

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Five intricacies of mortgage

Five intricacies of mortgage
The mortgage market is actively developed: the programs and companies offering them, it becomes more and more. Inspired choice, you can forget about those nuances, which involves the acquisition of housing loan funds. 1. Redevelopment: Pros and Cons
There are two types of mortgage lending: the security of available housing and the security purchased. In case of default by the borrower of its obligations under the contract of the bank to get the satisfaction of their claims for payment of principal and interest, forced to put mortgaged property for sale. To avoid unexpected losses respecting financial companies do not view accommodations with inconsistent alterations as the object of pledge.
Redevelopment to become law, shall be furnished the following documents: the draft, the new technical passport; conclusion authority for the protection of monuments of architecture, history and culture of the admissibility of the conversion or redevelopment of premises, a new certificate of title showing the new settings object, if they changed .

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