Housing loan closing process by consumer.

Housing loan closure procedures are complex and the most important issue to be paid attention.

Housing loan closure procedures are complex and the most important issue to be paid attention.

In cases where the consumer does not know how to close the loan, he or she may harm or pay a fine.

Delayed Payment Status: In case the consumer fails to make installment payments on the dates specified in the payment plan, the default interest will be charged to the loan. The default interest is determined as a certain excess of the loan interest within the limits of the Law No. 4077 on Consumer Protection. The relevant rate is also stated in the Pre-Contract Information Form and the Credit Contract of the loan. Maximum 30% of credit interest.

As soon as you start having difficulty with your loan payments, you can use your debt transfer credit to edit your budget and create a new payment plan. In addition, you can use the ından How to Upgrade a Credit Rating ”article to learn about your credit rating and to learn how to improve your rating.

Restructuring the Payment Plan: If the consumer discovers that he / she is having difficulty in repayments, he / she can ask the bank to configure a new payment plan without defaulting the mortgage installments. If the bank accepts the restructuring, the loan installments can be extended by extending the maturity of the loan. However, during this transaction, the bank may charge commissions as the price of the services provided by the consumer.

You can find out how profitable or harmful the refinancing process 

You can find out how profitable or harmful the refinancing process 

Early Payment Fee: If the consumer wishes to make an interim payment other than the installments specified in the payment plan, or if he wishes to pay the full loan balance and close his credit before maturity, an early payment fee is paid. Early payment may be up to 2% of the remaining principal.

If the consumer has used the housing loan before the effective date of 6 March 2007, the housing finance institution has no right to demand an early payment commission from the consumer. (You can instantly learn how much you can pay extra if you want to close your credit in a shorter time with ekstra Early Payment Penalty Calculator Hesaplama tool.)

Interest Reduction in Early Payment: The consumer may pre-pay the total amount owed to the bank or at the same time pay one or more installments before maturity. In both cases, the bank is obliged to make the necessary interest deduction for the installments paid before maturity and for the loan.

Non-repayment of the loan: If the consumer is in default (at least two consecutive installments not paid), the bank may request the full performance of the debt if it has reserved its right. In order for the Bank to exercise this right, it must give at least one month notice to the consumer for the due date (the right to claim the full maturity of the forward bank at a time).

If the debt is not paid within this period, the bank can follow two ways:

  • Converting the pledge or
  • Attachment
    • If the pledge is to be converted into money, the following is followed:
      • First, the sale of housing is made.
      • Then the portion exceeding the remaining debt is paid to the consumer.
      • The consumer or third parties holding possession shall evict the property.
      • Consumers are also required to pay the notice and notice to be sent by the bank if the loan installments are not paid on time.