What is the maturity period after the mortgage is paid off? All the nuances of the procedure for obtaining paper

The process of closing a mortgage can be divided into several stages:

• final payment and issue of a certificate of no debt;
• application for closing a credit account and receiving documents;
• return of the mortgage on the mortgaged object;
• removal of the encumbrance and a new certificate of ownership;
• refund of the cost of insurance.

Let's take a closer look at the main actions after repaying the mortgage.

Final payment and certificate of no debt

Before making the final loan payment, you must request information about the amount of remaining debt from a bank employee. To do this, you can visit a bank office or call. It is believed that a more reliable option is to send an application for an extract, which will indicate the following data:

1. Full name of the borrower;
2. information about the status of the mortgage account;
3. mortgage agreement number and closing date;
4. Full name and position of the specialist who signed the certificate.

The statement must indicate that the credit institution has no claims against the client. You can receive a certificate within two weeks. An official document will protect the borrower and help prove the case in case of controversial situations.

How bankers describe the situation

• “The Office of the Federal Registration Service (Office of the Federal Registration Service. - RBC), departments of Rosreestr, Rosreestr archive, Cadastral Chamber do not accept applicants due to quarantine. Information directly from the registration company July 14, 2021. All entries in the MFC from legal entities are scheduled ten days in advance,” said a representative of Otkritie Bank. He estimates that the bank received only 10% of the mortgages submitted to the registration authorities. The registration period at the MFC has increased to 14 days.
• The MFC introduced restrictions on the number of transferred packages; because of this, it was not possible to quickly hand over the entire volume of mortgages accumulated during self-isolation, noted a representative of Sberbank.
• The procedure takes approximately twice as long, admits a representative of Alfa Bank. He connects this not only with the operating mode of government agencies. Another reason is the transition of the MFC and Rosreestr departments to a new information system for property accounting (FGIS EGRN).
• According to Oleg Komlik, director of the Digital division of Dom.RF Bank, there are queues for registration and issuance of mortgages in some regions. He did not name specific subjects.
• The situation with registration of mortgages differs in different regions, said a representative of Uralsib. “In some places, MFCs did not accept clients for some time, some only accepted clients by appointment. Registration is currently by appointment only. The queue depends on the region, on average we sign up one and a half to two weeks in advance,” the RBC interlocutor said.
• VTB also associates delays in processing mortgages with the peculiarities of the work of registration authorities. “We work individually with each request, trying to resolve it as quickly as possible and speed up the process of issuing mortgages. We sincerely apologize to all clients who encountered this inconvenience,” said a bank representative.
• MKB, Raiffeisenbank, Sovcombank, Unicredit and Ak Bars banks stated that they did not encounter problems with the issuance and registration of mortgages. The remaining organizations from the top 15 by mortgage portfolio size did not respond to RBC's request.

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An RBC interlocutor at a large bank noted that in some regions there are quotas on the number of coupons for registration in Rosreestr or the MFC: “No more than two coupons per week per employee.” According to his estimates, the situation with mortgages will normalize only by the end of the year.

The problems of mortgage borrowers are connected not only with queues at registration authorities, says managing partner Maria Litinetskaya. “In a number of banks, some employees were laid off or sent on forced leave, and today the shortage of personnel can complicate the work of organizations,” she explained.

Return of the mortgage on an apartment or house

When receiving a mortgage, the borrower draws up a mortgage note, which lists the terms of the agreement and the characteristics of the real estate pledged as collateral. The document is stored in the bank for the duration of the loan, and after this time the client has the right to pick it up. The mortgage must contain two marks: that there are no claims on the part of the banking organization and that the borrower has fulfilled its obligations.

What can a bank do with a mortgage?

It is worth considering that the mortgage can be stored both in the bank and in another place. In addition, the bank has the right:

• Sell ​​the mortgage in its entirety because it is a security. In this case, the borrower’s permission is not required, since the data in the document about him does not change. Simply, after the sale of the mortgage, payments on the mortgage will be received by the new owner, and not by the bank that issued it. And this new owner will not be able to change the terms of the loan unilaterally.
• Partially sell the mortgage. That is, the bank does not completely transfer the borrower’s obligations to the new owner of the mortgage. And the mortgage payments are transferred to him independently in accordance with the document. And this type of sale also does not affect the terms of the loan.

The bank sells mortgages in cases where it urgently needs free money. The borrower may not know anything about the sale, but when applying for a mortgage, he must be notified of the bank’s possible actions (that is, the bank’s right to sell the mortgage).

In addition to the sale, the bank has the right to exchange mortgages

. For example, change a mortgage for the amount of RUB 2,100,000. on a mortgage from another bank in the amount of RUB 1,700,000. As a result of such an operation, the bank will receive an additional payment in the amount of the difference - that is, 400,000 rubles.

also has the right to issue securities

(mortgage securitization). That is, it divides the mortgage amount into parts into which the Central Bank issues (securities). He has the right to exchange or sell them. And such securities can be purchased by both legal entities and individuals.

How to remove the encumbrance after paying off the mortgage

Removing the encumbrance from an apartment or house is mandatory, since if the procedure is not followed, actions taken with the housing, be it sale or rent, will have to be agreed upon with the creditor. The procedure is carried out at Rosreestr in the presence of a bank employee. But, as practice shows, today they often adhere to another option: a specialist from a banking organization draws up a power of attorney, which the borrower can submit to Rosreestr. In addition to this, the citizen must bring documents such as:

• mortgage agreement;
• mortgage loan repayment statement;
• mortgage;
• USRN certificate;
• certificate of ownership;
• constituent papers of a financial organization;
• passport of a citizen of the Russian Federation;
• application for removal of encumbrance on real estate;
• receipt of payment of state duty.

The package of documents can be submitted personally to Rosreestr by visiting the MFC, sent using the State Services website or by registered mail, making copies and notarizing them. After reviewing the submitted data, specialists from the Registration Chamber will issue a new certificate of ownership of housing. It takes up to 3 days to prepare the document.

What actions to take and where to go if the bank does not return the document after repaying the loan?

The bank may not issue a mortgage only if the loan account is not closed. This can happen if the mortgage is paid off early and the last payment was calculated incorrectly.

After depositing the remaining amount, you must contact the credit institution to obtain an account statement. Even if there is a debt of 5 rubles left, the mortgage will not be closed.

If everything is in order, and the bank does not issue the document, you need to take the following actions:

1. Write a letter to the bank with reference to Article 17 of the Law “On Mortgage”. The letter can set a period of 2 weeks for receiving a written response.
2. When submitting a letter to the bank, obtain the number of incoming correspondence.
3. Wait for the bank's response. The response will be received at the postal address specified in the letter.
4. If the bank refuses to issue a mortgage, you can go to court with all the evidence. The bank's written response can also be attached to the statement of claim.

Because the bank may transfer the mortgage to other persons, the document may simply be lost. If the mortgage is lost, the bank is obliged to issue a duplicate .

When receiving a duplicate, it is important to make sure that it matches the previous document. To do this, it is important to promptly request a copy of the mortgage from the bank so that you have something to compare with. The issued document must have a mark indicating that it is a duplicate.

Registration of a mortgage with Rosreestr requires the expenditure of funds. The credit institution may charge the borrower with the costs of preparing the duplicate. However, you should not agree to this if such an obligation is not specified in the contract.

Our experts have prepared articles about the basic rules and important nuances of removing the encumbrance from an apartment after paying off the mortgage from banks:

• VTB 24;
• Sberbank.

Insurance return

If the insured event does not occur, the borrower can return the insurance payments. However, it is worth remembering that this is only possible with a one-time payment for the insurance policy and early repayment of the loan. If there are no claims from the insurer, the contract is subject to termination and the borrower is returned the amount for the unused period of insurance. Insurance companies may refuse to return funds, so the client will have to go to court to protect their rights.

Find out more about the features of full or early repayment of a mortgage and get useful recommendations from experts on the official website of Rosbank Dom.

Expert advice

Before paying off your mortgage and removing the encumbrance, you need to know several important nuances. Let's talk about them.

1. When you make your final mortgage payment, check where your mortgage currently stands. If the document is in the same bank branch where you took out the mortgage, it will be issued quickly. But if the mortgage is stored in the bank's central vault, the timing of its issuance may be delayed. Banks often sell mortgages to other financial institutions. Therefore, it is necessary to clarify who the current mortgagee is and find out the date the mortgage was issued.
2. If you are paying off your mortgage early, ask your bank when the funds will be debited from your account. On the standard monthly payment date or early write-off is possible, upon request. Some banks close the loan early only on the monthly payment date. For example, the borrower makes payments on the 20th of each month. If the borrower deposited funds to fully repay the mortgage on the 5th, the bank will write it off only after 15 days.
3. Contact the head of the bank branch with a request to close the mortgage at a time convenient for you. Of course, not every bank will meet you halfway and issue a mortgage, but it’s worth a try.
4. If you have been issued an electronic mortgage, you will not have to do anything further. Once the mortgage is paid off, the mortgage is automatically cancelled.
5. For any questions, read the legislation. The main laws in this area are laws No. 102-FZ “On mortgage (pledge of real estate)” and No. 122-FZ “On state registration of rights to real estate and transactions with it.”

What is an encumbrance?

An apartment purchased with a mortgage is the property of the buyer, but the agreement imposes certain restrictions on its use, which are regulated by the provisions of the Civil Code of the Russian Federation, Federal Law No. 102 and the relevant clauses specified in the agreement between the financial institution and the borrower.

Not a single bank is engaged in charity, and all its actions are justifiably aimed at obtaining benefits. As a rule, mortgage loans are taken out for a fairly long period, and even the most reliable client with a stable high income and an impeccable credit history may one day, for one reason or another, lose his income, become seriously ill or die, respectively, losing the ability to regularly make monthly mortgage payments. In order, as they say, to remain in its interests, the bank insures itself with collateral (usually this is the very object being purchased or other real estate owned by the debtor). If he stops paying, the collateral is seized and sold.

It is clear that the safety of the apartment is entirely in the interests of the bank, therefore the mortgage agreement contains provisions such as, for example, a ban on redevelopment. In addition, the owner has every right to live in the living space, which is pledged, but at the same time cannot sell, donate, rent it out, or even register strangers who are not members of the family there without the bank’s consent. Before signing the contract, it is recommended to carefully study the relevant clauses in order to avoid possible troubles in the future.

The encumbrance on the apartment must be registered in the Rosreestr database. It can be withdrawn only when all financial obligations to the bank are fully repaid, including interest, regardless of whether this is done exactly on schedule or ahead of schedule.

Once the final payment has been made, it is time to begin the process of paying off the garnishment record. To do this, the mortgagor or a bank representative submits an application and a mortgage note to the relevant authorities. Sometimes it happens that when calculating the final amount sufficient to pay off the existing debt, errors are made, and fines and penalties are charged on the unaccounted balance. Therefore, it is important to obtain a certificate of no debt from the bank and provide it upon request.

According to the law, the period for removing the encumbrance is three working days if the documents were submitted to Rosreestr. When processing the procedure through multifunctional centers, the waiting time may be slightly increased.

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