Articles Tagged ‘mortgage’
Jhonny Zambrano is a credit analyst at a microfinance institution - MFI. New to the job. Entered less than a year after finishing college. Get the job was not difficult. The post did not require previous work experience, by the shortage of skilled personnel in the field. For several years the number of MFIs in the market has grown steadily. Not so the labor supply of trained personnel. Situation that had triggered the conflict of different MFIs to capture the little experienced and caused a strong migration from lower-paid MI (mainly Municipal Savings and Credit Unions) made the best-paying entities (mainly banks ), who preferred this to having to train new staff and assume the errors and horrors of their learning curve. The offer in the microfinance market were banks (specialized or through specialized units), Municipal Building (CMAC), rural banks (CRAC), Financial Edpymes, Savings and Credit Cooperatives (CAC) and nongovernmental organizations (NGOs). Competition between them w...
Credit according to the traditional concept, is defined as the right of the debtor's creditors receive anything, as you have confidence in the commitment to pay or return. From a legal standpoint, the claim by law, trade and economy is the right of a person called a creditor has to bind to another, the debtor to pay. In fact there are multiple concepts, but more suited to our times and from the financial point of view is that credit is a risk operation or transaction in which the creditor (lender) trust in exchange for a guarantee in the policy credit or debtor (borrower), with the assurance that the latter will in future with their obligations to repay the capital received (debt repayment) plus tacitly agreed interest (debt service) 2. TYPES OF CREDITS There are many types of loans, the most traditional in the financial system for commercial loans to micro entrepreneurs, consumer and mortgage loans. ? commercial credit. Are those direct or indirect loans granted to individuals...
Fundamental reason why interest rates are changing over time is that they reflect the cost of borrowing in the economy of global influence. Generally, when interest rates are low, those who lend money to also pay low interest rates for the money they have to borrow and then lend to home buyers. These lower rates are passed on to borrowers and loans. Conversely, when interest rates are higher borrowing costs for providing the money (and then provide those who take mortgage loans) are higher, and these rates are passed on to customers. This is important because the rates are available at the time you're ready to buy, will significantly affect the price of the house that could be acquired. If you can afford to spend a month about $ 850 in principal and interest when interest rates are 6.5%, you probably can borrow $ 140,000 over 30 years. But if interest rates rise to 9%, 8950 will allow them to borrow an amount close to $ 100,000. Lower interest rates usually mean that you can buy a ...
What is an insured mortgage?
An insured mortgage is a mortgage that is secured against a property (usually a house). This "security" means less risk for the lender because it has a better chance of recovering their money if the borrower has to repay the money problems. What is security? Safety is the diminution of the value of the mortgage against something of equal value (or preferably higher value). The security of a mortgage is a legally binding agreement where the lender may, if necessary, force the borrower to release the value of the collateral to repay the debt if they violate the terms of the loan. Common features of a secured loan: > They are for high value mortgages. > Typically, you pay at a time longer than a normal mortgage. > Usually, they offer lower monthly fees (for the same amount) than a common mortgage. Why mortgage lenders offer guaranteed? Lenders prefer the security of a mortgage insured because they involve less risk, compared to unsecured lending, are more likely to rec...