The repurchase of credit can take two different orientations, either it is a repurchase of mortgage property whose objective is to negotiate a better rate to realize savings on the interests, or it is a regrouping of loans having been requested to readjust debt repayments in order to avoid financial imbalances. The common point of the two operations is quite simply to have a loan repurchased by a bank other than one’s own.
For the repurchase of home loan, a loan is completely possible after renegotiation of the rate and subscription to the contract, it is enough simply to check if its capacity of indebtedness allows supporting a new charge of credit. For the grouping of credits, the same calculation is necessary because the operation leads in most cases to an increase in the debt, it must also be aware that taking out a new loan may lead to new steps to readjustment.
A mortgage after a loan buyout
Many tenants have recourse to the grouping of their consumer loans in order to make a real estate purchase, in this case, they wish to improve their situation and above all simplify the management to be able to accommodate a monthly mortgage, the project takes everything its meaning when the borrowing capacity is real and verified. A mortgage loan simulation also makes it possible to know immediately if it is possible after a loan repurchase.
For tenant households wishing to buy a house with current loans, it is strongly advised to carry out two common simulations, the first is to carry out a simulation of a grouping of credits which will make it possible to obtain a single reduced monthly estimate, this information will then simulate a mortgage. If all the lights are not green, the tenant will know that his real estate purchase project cannot be carried out. It is, therefore, necessary to start by concentrating on the consolidation of credit and the reduction of the monthly payments in order to review your financial situation.
A consumer loan after a loan repurchase
If several credits have been bought and the repayment period has been extended, it should not be forgotten that a debt must be repaid, according to the terms of the contract. This first loan repurchase makes it possible to correct the situation and should, ideally, avoid the borrower from taking out new debt. In addition, some financial organizations offer households to add a sum called cash to finance the desired project, this avoids turning to a consumer loan.
It is still possible to apply for a personal loan, a revolving loan, a car loan or a work loan after a loan repurchase, you just have to make sure that the debt capacity is sufficient and above all that the situation is not unbalanced with the coming of this new monthly payment. It is important not to find yourself in a situation of financial imbalance a second time as this would involve buying back the loan repurchase.