A home certificate guarantee fund loan is one solution if you want to borrow money. The house as one of the promising properties provides a high selling value as a loan guarantee.
In the process of applying for a loan using a home certificate guarantee, the financial institution disburses 60-80 percent of the value of the property collateral. Of course, this applies a simple scheme for loans.
Where, if a money borrower cannot pay off his loan, then the one who provides the loan can take over the collateral of the house. Then, it will be sold to pay off the shortfall in loan repayment.
Of course, this is done by lenders to avoid losses due to borrowers who cannot pay. Although it is very guaranteeing, you need to pay attention to several things before making a loan guarantee.
The most important thing to understand is the difference between a loan using collateral or without collateral. For example, the process of a collateralized loan will take longer, while without collateral it can be disbursed faster.
Home Certificate Guarantee Fund Loan
To make a loan with a home certificate guarantee can also be done by filing a certificate in the name of another person. On behalf of the person in question suppose in the name of the parent or the old owner.
Before making a loan with a certificate guarantee in the name of another person, you need to do several ways to deal with it. The first way is to take care of the process of returning the name first.
You need to do a name reversal process for security in the lending process. Of course, by doing a name reversal, then you can avoid problems in the future such as asset disputes.
Although it is quite long and long to process and requires some costs, the process of returning the name needs to be carried out immediately. This includes if the assets to be used as collateral do not yet have a certificate.
You need to make a certificate in advance for applying for a loan guarantee. You can register a certificate through the Land Office or the National Land Agency for consultation on making the certificate.
In addition to reversing the owner’s name, you can also make a loan on behalf of someone else by using a power of attorney. The power of attorney will explain that the proposed assets are indeed yours.
A home certificate guarantee fund loan on behalf of someone else but a vertical family member can still be done, such as father to son. For this submission also requires an additional letter such as a statement from the owner of the certificate.
This statement needs to be legalized by a notary who gives a statement on the availability of a certificate filed for credit. If the parents are deceased, then it is filed by attaching a letter of heir.
There is also known the term hand borrowing when the need is urgent with the agreement of both parties. However, this kind of system is rarely used because it will not be easily trusted by lenders.
Overcome the Difficulty of Repaying Loan Funds
Making a money loan will certainly be accompanied by a return payment from the home certificate guarantee fund loan made. However, it is not uncommon for a customer to find it difficult to make this payment.
Things like this need to be addressed immediately to avoid losses due to the accumulation of payment debts. The first way is to communicate with the lender regarding the payment process made.
The second way is to prioritize your payments. For example, if you do have difficulty in making a back payment of a collateralized loan, then prioritize paying this one first.
You may also be able to turn to a family member or closest friend for help with temporary financial problems. You can take advantage of the loan to pay a collateralized loan.
Another way that can be tried is to get financial assistance. Getting professional financial management assistance can reduce the risk of inability to repay the loan with a home certificate guarantee.
You can talk to other financial institutions to address this issue. For example, by visiting Universal BPR which provides a flexible, fast and easy loan offer.
If you really feel unable to repay the loan, then from the beginning of making a loan you have determined how to pay it to avoid the problem of being late in repaying the loan with collateral.
Making a loan with collateral, of course, you must pay attention to the choice of products offered along with the various risks faced. Knowing this, it can make the loan of the home certificate guarantee fund safe.