Mortgage credit is of great importance to modern economies, because through this is achieved to provide greater dynamism at the time of acquiring a loan. Mortgage credit can be understood from various points of view, they revolve around the same idea. In this short article will try to explain the main idea and will mention with a short description some of the more common points today. Idea principal on the mortgage through mortgage credit a lender which can be a natural person, Bank, box family compensation, cooperative, investment funds or any other financial institution, gives a credit or loan from a capital to a beneficiary, which guarantees payment of the credit with the granting of a right in rem called mortgage. The mortgage is a real right that falls on real property, for example, a House, commercial property etc.
That allows that the real estate is mortgaged, to be seized and topped with the intervention of a judge, in the event that the debtor does not pay its obligation. In a nutshell, by the mortgage seeks to ensure payment of the debt, either by the debtor pay voluntarily, or that not, a judge can finish good for paying the creditor or lender. Main features of mortgage credit is of easy access, because the lender can easily rely on that payment would be carried out. Usually the mortgage credit is granted by banks and financial institutions for the acquisition of housing. Mortgage credit enjoys a very low interest rate.
Mortgage credit is usually long-term. Mortgage lending for house purchase mortgages for house purchases can be of varied forms: 1. is acquired for the construction of housing credit and makes the mortgage on real property other than housing that will be has been build. In this form of mortgage credit, gives greater security to the lender, because in reality the guarantee of payment exists at the time of the conclusion of the contract, this is why most easily accessible. 2 Takes credit for the acquisition of housing, and becomes the mortgage on the property that will be built. This type of mortgage, the lending institution makes a rigorous control of monies that are delivered, because the mortgage can only be constituted until after completing the construction of housing. On this assumption of mortgage credit, usually the financial entity which makes the granting of credit, does not deliver the money immediately but that it regulates that the debtor can go by providing necessary quantities according to the progress of the construction. Given the mechanism of this type of mortgage credit, institutions have and assign qualified staff that is responsible for the surveillance and control of the constructions of persons who acquired a loan. In order to ensure the continuous progress.