The author of the initiative was Irina Yarovaya. According to her, the new law will provide such protection that a mortgage loan agreement will not become an irretrievable loss in the event of a change of intention.
Russians are permitted to sell property pledged under a mortgage. The law in its second and third readings was adopted by the State Duma.
For this purpose it will be necessary to submit an application. The right to sell is given regardless of the size of the loan.
The Bank must within ten days to determine the minimum price of the property sold. By law, it is impossible to sell below it.
The proceeds will be credited to the bank account, which will be determined by the pledgee. The difference between the amount of the loan debt and the sale price will be returned to the pledgee less the expenses incurred by the pledgee.
The deadline for the sale of pledged property, including state registration of the transfer of ownership and full repayment of the loan, will be four months after the bank receives the application. Extension of the term is allowed, but the agreement must contain a provision on the new minimum sale price of the property.
There are a number of restrictions on the sale of pledged property:
The law will allow to protect and preserve the additional funds received from the transaction.
Earlier we wrote that on Yamal decreased the number of mortgage loans issued.
By the way, banks have become more willing to lend to Russians with overdue debt.