Advantages of a mortgage for the purchase of housing
One of the options for purchasing an apartment is to contact the bank for a mortgage loan. Here, already at the initial stage, difficulties arise. The bank still needs to be convinced that it is precisely this borrower that can be issued a loan, and that the borrower will be in good faith to pay it. But the apartment purchased on a mortgage loan immediately becomes the property of the buyer. But for the bank, this apartment, anyway, remains a key until the final payment of the loan. If the borrower suddenly stops paying contributions on a loan, then the bank has the right to sell an apartment purchased on credit. From the funds received from the sale of the apartment, the bank takes the amount not paid by the borrower, and boughts housing for the remaining money for the remaining money. At the same time, you should know that the amount paid as interest will not receive the borrower back. This amount is a remuneration of the bank, and is not subject to return.