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What conditions do third party mortgage guarantees meet?

Time: 2017-06-20         Source: Luo Ye Law         Author: Luo Ye law

First, how to understand third-party mortgage guarantees?

Guarantees are divided into guarantees, mortgages, pledges, liens, and deposits. Third-party mortgage guarantees can provide guarantee guarantees, mortgage guarantees, or pledge guarantees. The third person may request the debtor to provide counter-guarantees when the debtor provides the creditor with guarantees. There are many requirements for the provision of guarantees. You can look specifically at the security law.Loans to borrowers have sufficient and stable repayment ability, and work and income are stable; at the same time, they must have good credit records.. After the guarantee, the borrower can play a good joint repayment responsibility.

       

Second, third-party mortgage security to meet what conditions?

When a borrower applies for a third-party mortgage guarantee, the lending institution has a certain requirement for the guarantor in addition to the borrower’s certain requirements, because the guarantor also bears important responsibilities, so not everyone can serve as a guarantor. Here we come to understand, as a third partyGuaranteed loanWhat are the conditions that the guarantor needs to meet?

1. The guarantor needs to be a natural person who has complete civil capacity. Age between 16 and 65 years old.

2. The guarantor needs to provide a valid proof of identity, such as an ID card or account book. If the sponsor is married, a marriage certificate is required. Unmarried also need to provide proof of unmarried.

3, the guarantor provided truthfullyPersonal credit informationThe report proves whether it has any liabilities and whether it has a good credit history.

4. The guarantor has a stable economic income and voluntarily provides guarantees for the borrower, helping the borrower repay the principal and interest when the borrower is unable to repay the loan.

Therefore, the guarantor must have a certain economic foundation because,Once the borrower cannot repay the loan, the guarantor must bear the responsibility of continuing to repay the loan. If the guarantor does not pay on time, it will also have an adverse effect on his credit record..

Third, third-party mortgageSecured loanWhat's the risk?

It depends on whether the guarantee that you made when you pledged the first time is joint liability guarantee or general liability guarantee. If it is a joint and several liability guarantee, the creditor can choose which of the debtor and the guarantor is easy to implement and which is to be executed first; if it is a general guarantee responsibility guarantee, first of all, the debtor’s assets must be pursued, and all the remaining debts after the compensation are reclaimed from the guarantor. . Secondly, to see if the guarantees for your three people are reinsurance or joint guarantees, that is, if three people separately guarantee some of the amount, or if everyone guarantees all the debt.If it is a reinsurance, you only need to assume the guarantee responsibility for the portion of your guarantee. If it is UNPROFOR and you are the most economically strong among the three people, it is possible to execute your collateral first..

To sum up, in a third-party mortgage-guaranteed loan, a third party must be a natural person with full capacity and must have a certain economic foundation in order to become a guarantor. Because if the debtor has difficulty repaying the loan, the guarantor must assume joint and several liability, that is to say, fulfill the obligation to continue to repay the loan. The people are handlingMortgageAt the time, it is often easier to get a loan through third-party guarantees.

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