This is the case when there is no money and its receipt is not expected. Ignoring calls from the bank and waiting for it to go to court is not a solution. Lawyers recommend trying to sell the mortgaged apartment. This will require the bank's consent, but in most cases it is quite possible to get it. If you manage to make a deal, the buyer will actually "re-register" the mortgage in his own name, and you will receive the difference between the market value of the apartment and the remaining debt.
Lawyers usually do not recommend initiating bankruptcy in this situation, citing the length and high cost of the procedure. With results similar to the sale of a mortgaged apartment, it involves much more expenses.
If a deferment is needed
There are many reasons why a mortgage becomes burdensome - the down payment turned out to be too large and all the money saved up was spent on it, the borrower faced unexpected expenses or was fired northeast mobile number database from work. In most cases, there is a way out of these situations. Therefore, it is advisable to ask the bank for a deferment.
Remember that usually the creditor is not interested in judicial collection, but in voluntary repayment of the debt by the borrower. Therefore, the bank may well meet you halfway. There are also alternative options and situations when the borrower can legally defer payments.
Mortgage holidays
Allows you to suspend or reduce mortgage payments for up to 6 months in accordance with the provisions of Article 6.1-1 of Federal Law No. 353-FZ. The term of the agreement will be extended for the duration of the grace period. The list of difficult life situations in which the borrower can apply to the bank with a request to introduce mortgage holidays is established by law.
Restructuring
Entails a change in the terms of the loan in order to reduce the monthly financial burden. Restructuring may involve:
Extending the term of the loan agreement allows you to reduce regular payments.
The payment of accrued interest without repaying the principal debt for a specified period of time.
It is important to take into account that any changes to the terms of the agreement are registered with Rosreestr, so it is important for the borrower to contact the bank for restructuring as early as possible - it will take time.