Raising rates, of course, hardly anyone rejoice, but for mortgage borrowers are threatened and terrifying – collapse in property prices. In the light of forecasts of an imminent collapse of the price bubble, inflated by the Moscow housing market, which is really scared. Especially those who acquired the property on credit in 2007-2008, that is, at the peak of price increases. Following a serious incident value of the property may well be that laid flat valued less than the amount owed, then that could start trouble. "Changing the value of the collateral legislation is not regulated. But this law is not prohibited to include in the loan agreement provisions governing the relationship of the parties in the case of reducing the value of the pledged property "- explains Natalia Volkova. Thus, if your contract was listed an item on the reduced value of the collateral, the bank in this situation is entitled to bring a related claim. What exactly – Again, depends on the terms of the agreement with the bank, as the law scheme, which is bound by the lenders, not marked.
The Bank may be satisfied with the provision of additional security to not be covered by the guarantee amount or may demand early repayment of the loan. In the latter case, if the money for the full repayment of the debt you have not typed, there is only one option – to sue. "The borrower may declare that, although the value of the collateral declined and he is ready to provide additional security for the remaining amount, and therefore the bank has no reason to require repayment of all loans, "- says Diana Sork.