You will need
- - credit agreement;
- - the documents confirming temporary financial difficulties;
- - proof of income;
- - application for refinance or restructure of the loan.
Basic ways to reduce payments on the current mortgage restructuring and refinancing. Restructuring of a loan is made directly to the Bank which issued the mortgage. It allows you to increase the loan period. Due to this reduced monthly payment, but you need to remember that the amount of overpayment on the loan increases as well. Restructuring is carried out on the basis of the borrower's application to which you want to attach documents that confirm the impossibility of carrying out of payments on the same schedule. The reason must be valid, for example, the birth of a child, illness or reduction of salary.
Refinancing can be true for those who took a mortgage a few years ago, in terms of higher interest rates. If earlier, the interest rates reached 18-20%, today - an average of 11-13%. Refinancing allows you to reduce monthly payments by obtaining lower interest rates. It may make sense until the payment term of 5 years and the balance of the debt more than 30%. Refinance mortgage loan in any Bank that provides this service. The procedure is similar to obtaining the loan, the borrower is required to refinance application and documents to the property and proof of income. Also, you can refer to your Bank statement with the renegotiation of the loan, but banks are in it is extremely rare.
In some cases, banks provide their conscientious borrowers "vacation credit". This allows you to temporarily pay only the interest on the loan or only the amount of debt that also reduces the monthly payment. If your Bank has denied you all these delays, can help the state through arizhk. For this impassable to contact the Bank, which will forward the documents to the Agency. When approval is given the opportunity to pay on the loan is less during the year. In the future, the loan from arizhk will have to return. But these options are only suitable for those who have financial difficulties are temporary, because in the future to pay the loan will have even more.
For those for whom mortgage the apartment - not only housing, you can try to start to rent it out. It is worth considering that often banks specify in the contract a ban on delivery of the property, because it is a Bank in the mortgage and rental housing could worsen his condition.
For those who are just planning a mortgage loan to provide lower monthly payments is to take out a loan for a longer period and also to attend to the registration of the pledge. It may also reduce the amount of the loan, as recommended by the Bank insurance companies may not offer the most advantageous for the borrower the rates.
For approval regarding the restructuring or refinancing it is important to contact the Bank until the debt, otherwise the probability of failure increases.
Don't forget about the provided state tax deduction on mortgage payments. This allows you to return up to 260 thousand rubles, and guide them to repay the loan.