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What is good debt?

Contents:

  1. What is good debt?
  2. Who cancels the debts?
  3. How to repay a mortgage?
  4. What is the difference between secured debt and a mortgage?
  5. What are the risks of a home loan secured by a mortgage?
  6. What is the difference between a mortgage and a co-ownership?
  7. What are the advantages of a mortgage?

What is good debt?

A good debt is a credit or loan used to obtain some return on the investment. Here are some examples: Student loans used to pay tuition fees. Loans or credit used to start or acquire a small business.

Who cancels the debts?

A this can not be canceled; it can be refinanced at maturity, but this is never automatic. And the lender will only refinance if it has confidence in the sustainability of this this. A lender, private or public, who would not be reimbursed, will no longer lend, defends François Villeroy de Galhau.

How to repay a mortgage?

When the borrower and the lender agree to end themortgagewhich is generally the case during a refund anticipated, they must formalize their decision by a notarial deed. This is a lifting ofmortgage amicably. It can also happen that the parties do not agree.

What is the difference between secured debt and a mortgage?

If its value exceeds the amount of the secured debt, the creditor owes the debtor an amount equal to the difference; if there are other mortgagees, he records it. The mortgage follows the property in whatever hands it passes, to be paid according to the order of their claims or registrations.

What are the risks of a home loan secured by a mortgage?

When the monthly payments of a mortgage secured by a mortgage cease to be paid, the risk for the borrower is to suffer the seizure of the property in question. If he cannot meet his financial obligations, he still has the option of selling in order to settle his debts.

What is the difference between a mortgage and a co-ownership?

The co-owners are thus, each owner of a share of the property, until the division. A mortgage is the act of “pawning” property as security for your creditor (eg a bank). What is the problem with the association of these notions?

What are the advantages of a mortgage?

The mortgage can make it possible to finance various categories of debt, such as for example a real estate project, whether it is a main or secondary residence, but also rehabilitation, construction, development work, etc. , or funds for financing current accounts, tax debts, etc.

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