No need to cancel the mortgage to pay off the loan, you can transfer the account

http://insurancenoon.com/how-to-remove-name-from-mortgage-without-refinancing/

It was learned from the Municipal Real Estate Registration Service Center that the center has launched a new measure for the convenience of the people – the combined business of real estate transfer and mortgage change registration. Take the second-hand house transaction as an example, the house is mortgaged, and both parties can transfer the house without cancellation, loan repayment, and then mortgage, etc. At the same time, the mortgage can be changed to the buyer’s name.

“Fortunately, this new business has been launched this time, and my children can catch up with the enrollment registration!” Recently, Ms. Zhang, a citizen, received a brand-new real estate certificate. The situation she encountered before, which many citizens may encounter when buying and selling houses, is the transfer registration of personal real estate under the mortgage.

Because the house has a mortgage, the seller needs to raise funds to repay the loan first, and then handle the real estate transfer registration with the buyer after the cancellation of the mortgage.

The buyer then applies to the bank for a loan, and the buyer and the bank handle the mortgage registration.

Such a tossing is not only time-consuming but also brings greater financial pressure to buyers and sellers.

In response to this “pain point” in people’s livelihood, the Municipal Real Estate Registration Service Center recently launched a combined business of real estate transfer and mortgage change registration.

Both the house buyer and the seller and the loan bank personnel go to the real estate registration window of the Civic Center at the same time to apply for the combined business of real estate transfer and mortgage change registration.

After the acceptance, the staff of the two departments responsible for the second-hand transfer business and the mortgage business of the Municipal Real Estate Registration Service Center will conduct their respective approval links through internal circulation. After the registration is completed, the current owner of the real estate and the bank will respectively receive the real estate Warrants, and real estate registration certificates are equivalent to handling real estate transfer and bank mortgage in one step.

“To complete the transaction now, both the seller and the buyer need to raise money, especially for properties with more loans, the financial pressure on both the buyer and the seller is relatively high. With this policy, the direct transfer of the mortgage will help facilitate the buyer and seller to reach a transaction. “A broker of a second-hand housing agency in Hualiutang, Renmin Road, downtown, believes that this business is good news for both buyers and sellers and real estate agencies.

The combined business of real estate transfer and mortgage change registration is one of the important measures of the “Tree Services” activity proposed by the Municipal Real Estate Registration Service Center in 2019. Through system transformation, innovation and optimization, the mortgage and transfer will be registered in the form of combined registration of the real estate in the mortgage. The transfer of real estate and the change of mortgage is completed under the state, which makes the original real estate transaction with loan demand from “multiple businesses and multiple trips” to “multiple businesses only run once”.

By aamritri

Leave a Reply

Your email address will not be published.

Related Posts