Reunify or unify debt is a form of mortgage refinancing whose objective is to group all loans that a person, both mortgage as to consumption, with the intention of paying one fee more accessible, than if each loan pay separately. To reunify the debts, we have to have a property that guarantees to the Bank the new loan payment and whose market value cover loosely the amounts owed over the expenses incurred in the operation, such as taxes, registration, notary public, insurance and appraisal. With this option we do is convert debt to short-term into long-term debt, benefiting from mortgage interest rates lower than the interest applied to loans for consumption. In this past year (2008 / 2009) financial institutions specializing in products aimed at people with these funding requirements, have decreased considerably its resources, so to make these loans, each day require or impose more conditions that guarantee enough the repayment of the loan. It is therefore the importance that has to the raised make a reunification of debts, we conscientiously prepare to make our operation run the filters imposed by financial institutions risk analysts. This must take into account the following aspects: 1. dossier preparation: A financial dossier should contain a number of documents updated on personal, economic data, debt and guarantees: DNI, contract work, working life, personal income tax receipts of all debts, simple note updated, escriturara latest receipt of the tax on real estate and property. 2.
Feasibility analysis: with all the above information, we will make an analysis to determine if our operation is viable. For this purpose must take into account the following: amount to request, fee to be paid, repayment term, the rate of effort or debt ratio and the approximate value of our property. Once we have these two elements, look for the product that is closer to our profile, which must investigate the financial market, either in internet, journals or benches close to our House. If you want to dig deeper aspects discussed here, on our website you will find valuable information to prepare successfully for a reunification of debts.
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