Own a house - the dream of many families. However, not everyone can buy it at a time when it is especially needed, so you have to apply to the banks for mortgage loans.
When making a mortgage have both positive and negative sides. One of the positives is that taking out a mortgage, housing can be purchased at this moment, without waiting for housing prices will rise again. This drop in the ruble exchange rate is always playing on the borrower's hand if it is, of course, I took a mortgage in Russian rubles. It is worth remembering that at any moment can turn to another bank to refinance their mortgages. If the borrower lost a job, the bank provides deferred payment up to three months.
The downside of mortgage is that buying a house with the help of a loan, you become its owner with a number of restrictions. Your accommodation can not sell, donate or exchange. These restrictions will remain until full repayment of the mortgage.
Thus he repay the mortgage process is long and quite difficult because of the high interest rates. The total amount paid may be twice the real value of the apartment. Also still need to pay the compulsory insurance. In case you are not able to pay the mortgage, your home auctioned.
So take a mortgage is only in the case where there is an urgent need for their housing. It is necessary to be careful when signing a contract with the bank, getting a grasp on all the items of the contract. The most important thing in this business is to increase their own revenues, which will shut down the mortgage faster.