Generally, in mortgage debt agreements, it is very common to hold agreements with the aim of protecting the interests of the borrower or creditor not to be harmed. The agreement must be expressly stated in the mortgage deed. Usually, agreement in mortgages is about the promise of the lease. Promise not to be cleaned. Promise about insurance. Promise to sell on your own power.
So, what are the rights and obligations of the mortgage? Of course, you need to know all this because you are the person who will deal with any mortgage-related interests or interests. Do you work with a mortgage broker? Calculated when the mortgage debt incurred, then when it also appears the rights and obligations between the two sides. Giver (debtor) and mortgage receiver (creditor).
– The right of the mortgage lender is:
– Can still use the asset.
– Keep control of assets, provided that the lender is not harmed. Like changing assets. Reduce the value, size and capacity of asset assets.
– Getting loan funds.
– The obligations of the mortgage lender are:
– Pay the installment of principal and interest on the mortgage loan.
– In the event of late payment, the borrower is obliged to pay a penalty.
The thing that becomes the liability of the mortgage lender is the right to be received by the recipient of the mortgage debt such as the right to accept the installation of the principal and the loan interest. Receive a fine payment if the mortgage lender makes the late payment. Obligations of mortgages, Of course, what is the right of the mortgage lender is an obligation for the recipient of the mortgage debt as it is obliged to give the lender to the mortgagee. For more info, it can be a great idea to call at least three potential brokers that provide you the mortgage or similar services.