properties for negatives 22 Jun, 2021

Financing of properties for negatives: alternatives and possibilities

Buying a home in paradise city is a dream of many people. However, saving money to pay for the property in cash is still a distant reality for most Brazilians. Thus, financing is one of the most accessible ways to realize that dream. But is it the negatives? The financing of properties for negatives is a recurring doubt in a country whose economic crisis has put many citizens in credit protection agencies.

Thus, it is necessary to check which criteria are required by financial institutions for credit approval. Most of them understand that if the individual has arrears, he will hardly be able to afford new charges.

How does real estate financing work?

The first step is to understand how real estate financing works. It is carried out by banks, the most common being Caixa Econômica Federal and works as follows: the bank pays the seller the value of the property the amount financed and the buyer is responsible for paying the installments until the debt is fully paid off. During the payment period, interest is applied and the property, although linked to the buyer, cannot be negotiated until the outstanding balance is fully paid.

Financing conditions

Most banks offer real estate financing options, each with its own conditions. The main differences between them are the payment terms, interest rates and duration of the contracts. In addition, each of the financial institutions defines the maximum amount that can be financed.

Today, it is possible to simulate your financing online and free of charge. Thus, it is possible to define which one best suits your financial situation. Thus, it is possible to check the interest rates and the installment values ​​of each of the banks.

Documentation

Knowing the documents for purchasing property is also very important. They will be fundamental for the approval of the financing and the amount to be financed. They are, most of the time:

  • Buyer’s originals and copies of RG and CPF;
  • Proof of marital status;
  • Proof of address;
  • Income receipts;
  • Income tax declaration, among others.

Proof of your income is essential to identify your ability to pay. Thus, the value of the installment of the property cannot exceed 30% of the gross family income. Thus, it is understood that the parcels will have a maximum price so as not to compromise the finances of the buyer.

Thus, during the process, a cadastral analysis is also made to check if there is any restriction on the buyer’s name in the credit protection agencies – Serasa or Credit Protection Service (SPC). The release of the credit is subject to the buyer having the known “clean name”.

What does it mean to be negative?

As said, banks do a credit analysis that involves checking whether the buyer is negative or not. But, what does it mean to be negative?

Negative means that the person has his or her CPF or CNPJ registered with a national credit protection agency for an unpaid debt. Being in default does not mean having your name automatically denied. It all depends on the way the company deals with non-payers. Some understand that the delay of an invoice by a few days already means a request for a negative name. In contrast, other companies choose to try to negotiate the debt or wait for three or more invoices to be delayed.

Having a negative name means that your CPF is registered in the list of defaulters of a credit protection agency such as Serasa. This way, any company that does an analysis of your credit will know that you are a defaulter, which can lead to the disapproval of a credit application. This is the most common way of having the “dirty name”, but it is not the only one. There are also restrictions related to the Central Bank, Federal Revenue and issues involving justice.

For the case of real estate financing for negatives, it is important to note that this negativity does not necessarily refer to the buyer. It can extend to the seller and even to the property itself.

Types of credit restriction

There are other types of credit restrictions that go beyond defaults in agencies such as Serasa and SPC:

Federal Revenue and INSS

For this case, attitudes such as not declaring the Income Tax (IR), enrollment in the institution’s active debt or even registration problems with the CPF can generate restrictions.

Central bank

In this case, one of the main restrictions is related to the issue of bad checks. This action is known as Cadastro de Issuers of Checks without Fund (CCF). This usually happens when a check is returned a second time, and generates a record similar to that of credit protection agencies. In this way, the financial institutions that have access can check this restriction.

Justice

As stated, in some real estate deals if the seller is negative, the financing can be denied. This occurs when the owner of the property has some action against him in court, which has already been tried and awaits the settlement of the debt, or when the agreement is not fulfilled.

City ​​Hall

Debts related to property or past property tax can also be an obstacle to real estate financing. This can negate the name and to solve the problem it is always important to seek a negative debt certificate from the city hall.

Removing the name of the restraining bodies

The best option to avoid credit restriction problems is to withdraw your CPF from the credit protection agencies. Clearing your name is not an impossible task, because, for most companies, it is interesting to negotiate debt.

Renegotiate

The first step is to make contact with the lender and try a friendly negotiation. Always remember that the interest in solving the problem is mutual and many institutions offer excellent payment terms for renegotiation. So, try to find a balance between what the company can offer and what you can afford. It is very important to stick to the agreement and not delay these new installments.

Comply with agreements

As stated, it is not at all interesting to get a great deal and not pay for the new installments. In fact, this can worsen the situation at credit agencies. Therefore, avoid accepting agreements that you will not be able to pay.

Know your debts

Without knowing your real default situation, it is impossible to sign really plausible agreements. So, make a list of everything you owe, in addition to your monthly expenses. Therefore, prioritize which agreement you will make first and gradually get rid of defaults.

Financing of properties for negatives: is it possible?

Financing of properties for negatives is possible. This happens even if banks do detailed credit analyses. This analysis makes them understand that it will be very difficult to pay the installments of financing before paying off the pre-existing debts. However, it is possible to apply for credit in private finance companies.

When large banks refuse credit, you can ask for analysis on private and minor financials and get real estate financing for negative items. If you have a long-term relationship, this process becomes even easier. These companies usually take greater risks in order to do big business. However, it is important to note that the interest rates of this option are more expensive than those of traditional banks. In addition to making financing more expensive, payment terms may be longer.

Until recently, it was possible to finance real estate for negatives through the Minha Casa Minha Vida program. However, the current Federal Government replaced the program with Casa Verde Amarela and extinguished the possibility.

In the old program, families that fit into the so-called band 1, or Band of Social Interest, were able to obtain real estate financing for negatives. For that, it was enough to prove low income, that is, income below R $ 1,600.00. The subsidy granted by the government could reach up to 95% of the monthly fee. This was because for low-income families, it was only allowed to commit 5% of the profitable value of their residence since a value higher than this could prevent them from making the payment.

The dream of homeownership

For many, the dream of homeownership may seem distant. However, it is possible to organize yourself financially and make this goal increasingly achievable. Despite changes in the government’s housing program, Casa Verde Amarela still offers excellent conditions and benefits for those with an income below R $ 9,000.00. In addition, private finance companies tend to take the risks of financing real estate for negatives.

Furthermore, since this dream is so important in the lives of Brazilians, count on the right help when it comes to finding your ideal property. The Casa Mineira Imóveis portal has hundreds of properties of various types. In addition, our website has filters that facilitate the search for you to find the home of your dreams. Check out!

Buying a home is a dream of many people. However, saving money to pay for the property in cash is still a distant reality for most Brazilians. Thus, financing is one of the most accessible ways to realize that dream. But is it the negatives? The financing of properties for negatives is a recurring doubt in a country whose economic crisis has put many citizens in credit protection agencies.

Thus, it is necessary to check which criteria are required by financial institutions for credit approval. Most of them understand that if the individual has arrears, he will hardly be able to afford new charges.

How does real estate financing work?

The first step is to understand how real estate financing works. It is carried out by banks, the most common being Caixa Econômica Federal and works as follows: the bank pays the seller the value of the property the amount financed and the buyer is responsible for paying the installments until the debt is fully paid off. During the payment period, interest is applied and the property, although linked to the buyer, cannot be negotiated until the outstanding balance is fully paid.

Financing conditions

Most banks offer real estate financing options, each with its own conditions. The main differences between them are the payment terms, interest rates and duration of the contracts. In addition, each of the financial institutions defines the maximum amount that can be financed.

Today, it is possible to simulate your financing online and free of charge. Thus, it is possible to define which one best suits your financial situation. Thus, it is possible to check the interest rates and the installment values ​​of each of the banks.

Documentation

Knowing the documents for purchasing property is also very important. They will be fundamental for the approval of the financing and the amount to be financed. They are, most of the time:

  • Buyer’s originals and copies of RG and CPF;
  • Proof of marital status;
  • Proof of address;
  • Income receipts;
  • Income tax declaration, among others.

Proof of your income is essential to identify your ability to pay. Thus, the value of the installment of the property cannot exceed 30% of the gross family income. Thus, it is understood that the parcels will have a maximum price so as not to compromise the finances of the buyer.

Thus, during the process, a cadastral analysis is also made to check if there is any restriction on the buyer’s name in the credit protection agencies – Serasa or Credit Protection Service (SPC). The release of the credit is subject to the buyer having the known “clean name”.

What does it mean to be negative?

As said, banks do a credit analysis that involves checking whether the buyer is negative or not. But, what does it mean to be negative?

Negative means that the person has his or her CPF or CNPJ registered with a national credit protection agency for an unpaid debt. Being in default does not mean having your name automatically denied. It all depends on the way the company deals with non-payers. Some understand that the delay of an invoice by a few days already means a request for a negative name. In contrast, other companies choose to try to negotiate the debt or wait for three or more invoices to be delayed.

Having a negative name means that your CPF is registered in the list of defaulters of a credit protection agency such as Serasa. This way, any company that does an analysis of your credit will know that you are a defaulter, which can lead to the disapproval of a credit application. This is the most common way of having the “dirty name”, but it is not the only one. There are also restrictions related to the Central Bank, Federal Revenue and issues involving justice.

For the case of real estate financing for negatives, it is important to note that this negativity does not necessarily refer to the buyer. It can extend to the seller and even to the property itself.

Types of credit restriction

There are other types of credit restrictions that go beyond defaults in agencies such as Serasa and SPC:

Federal Revenue and INSS

For this case, attitudes such as not declaring the Income Tax (IR) , enrollment in the institution’s active debt or even registration problems with the CPF can generate restrictions.

Central bank

In this case, one of the main restrictions is related to the issue of bad checks. This action is known as Cadastro de Issuers of Checks without Fund (CCF). This usually happens when a check is returned a second time and generates a record similar to that of credit protection agencies. In this way, the financial institutions that have access can check this restriction.

Justice

As stated, in some real estate deals if the seller is negative, the financing can be denied. This occurs when the owner of the property has some action against him in court, which has already been tried and awaits the settlement of the debt, or when the agreement is not fulfilled.

City ​​Hall

Debts related to property or past property tax can also be an obstacle to real estate financing. This can negate the name and to solve the problem it is always important to seek a negative debt certificate from the city hall.

Removing the name of the restraining bodies

The best option to avoid credit restriction problems is to withdraw your CPF from the credit protection agencies. Clearing your name is not an impossible task, because, for most companies, it is interesting to negotiate debt.

Renegotiate

The first step is to make contact with the lender and try a friendly negotiation. Always remember that the interest in solving the problem is mutual and many institutions offer excellent payment terms for renegotiation. So, try to find a balance between what the company can offer and what you can afford. It is very important to stick to the agreement and not delay these new installments.

Comply with agreements

As stated, it is not at all interesting to get a great deal and not pay for the new installments. In fact, this can worsen the situation at credit agencies. Therefore, avoid accepting agreements that you will not be able to pay.

Know your debts

Without knowing your real default situation, it is impossible to sign really plausible agreements. So, make a list of everything you owe, in addition to your monthly expenses. Therefore, prioritize which agreement you will make first and gradually get rid of defaults.

Financing of properties for negatives: is it possible?

Financing of properties for negatives is possible. This happens even if banks do detailed credit analyses. This analysis makes them understand that it will be very difficult to pay the installments of financing before paying off the pre-existing debts. However, it is possible to apply for credit in private finance companies.

When large banks refuse credit, you can ask for analysis on private and minor financials and get real estate financing for negative items. If you have a long-term relationship, this process becomes even easier. These companies usually take greater risks in order to do big business. However, it is important to note that the interest rates of this option are more expensive than those of traditional banks. In addition to making financing more expensive, payment terms may be longer.

Until recently, it was possible to finance real estate for negatives through the Minha Casa Minha Vida program. However, the current Federal Government replaced the program with Casa Verde Amarela and extinguished the possibility.

In the old program, families that fit into the so-called band 1, or Band of Social Interest, were able to obtain real estate financing for negatives. For that, it was enough to prove low income, that is, income below R $ 1,600.00. The subsidy granted by the government could reach up to 95% of the monthly fee. This was because, for low-income families, it was only allowed to commit 5% of the profitable value of their residence since a value higher than this could prevent them from making the payment.

The dream of homeownership

For many, the dream of homeownership may seem distant. However, it is possible to organize yourself financially and make this goal increasingly achievable. Despite changes in the government’s housing program, Casa Verde Amarela still offers excellent conditions and benefits for those with an income below R $ 9,000.00. In addition, private finance companies tend to take the risks of financing real estate for negatives.

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