The OCU recommends not to come straight to the companies of credit reunification, and the Spanish Bank advises to read itself well all the conditions of the operation and heft the expenses and commissions that it takes with it.

If they make it like that to us from a beginning, the thing puts fear. The true thing is that there abound the announcements in press and television of companies that invite us to reunify our debts, so it is convenient to realize well about what we are speaking. In the article about the reunification of loans he explains to himself what is in fact a credit reunification and the options that we have, and in this article about Five Days he retires very well as the companies of intermediation work to reunify debts.

The advantage in the credit reunification is clear: to reduce the monthly quota that we have to pay. But it is necessary to bear in mind the expenses and commissions, as well as the number of years that we will have to keep on paying quotas.

It is convenient to be careful, to find out well before initiating an operation of this type and reading well all the conditions if in the end we come to a company of intermediation.

You take the mobile, send a simple text message, hope 15 minutes and you already have 300€ in your account. The facility with which it is possible to obtain a rapid loan for SMS in Sweden is doing that the Swedish young people knows the wonderful world of the financial debts. Not that to say has that it has been the whole success between the Swedish youth, like that of the whole world, accustomed to being the whole day with the mobile in the hand.

You ask for 320€ and have to pay, between expenses and interests, 18 %, a few 55€. Now then, you have to return it in the course of one month. In the end, as many young people asks for it cheerfully, ends up by being in a situation in which they have to ask for another loan with higher interests to be able to return this one and get into an unstoppable vicious debt circle.

The first rapid loans for SMS began happening in Sweden to half of 2006, three months later they began claiming the first debt cashings. It is supposed that this service is offered in more European countries, but the Swedish authorities worried so about the topic that they have had to put hand to lower the initial interest rate of the loans. Of course the companies that offer these services point out that persons ask for his loans of between 32 and 99 years (nothing of young people younger than 20 years) and that have a valuation of slowness of 2 %.

I do not even want to think what will happen when this comes to Spain, because it will end up by coming, more soon that I was late. What danger.

The buy of a housing, already be new or second-hand, it will have a few expenses that we will have to assume and a few taxes that we have to pay. Another remedy does not stay, we all are a ranch.

These costs are the expenses of record, of notary, agency, etc., more the tax of Documented Juridical Acts (AJD), in addition to the taxes for the transmission of the building. If the housing is second-hand we will have to pay Tax of Hereditary Transmissions (ITP), and if it is a housing of new construction, the VAT (Value-added tax). The type of tax of the ITP is at present of 7 %. The type of tax of the VAT will be able to be the limited one, of 7 % for the "common" housings, or the reduced super one of 4 % for certain systems of Housing of Official Protection (VPO), or even the ordinary type of 16 % if the housing is qualified like commercial place.

The above mentioned, although it seems incredible, it happens sometimes, especially when type housings are acquired loft in shallows of buildings, commercial shallows, or loft located in the outskirts of the cities, industrial or commercial estates.

The Town halls, in the buy sale of the housing also they will receive the well-known appreciation municipal from us or Tax on the Increase of the Value of the Areas.

For putting a practical case, in case of a housing for 200.000 euros paid with mortgage the costs would be approximately the following ones:

Notary's office	1.200€
Record	675€
Agency	300€
AJD	1.600€
Appraisal	300€
ITP or VAT	14.000€
Commissions he mortgages	2.000€
Whole	20.000€

In the case in which cause acquires the housing mortis, for heredity, also taxes have to be paid: Tax of Successions. If one treats his son as a gift, as a transfer for example of a father, it is in fact a donation and it is necessary to pay the Tax of Donations (Tax of Successions and Donations, ISD). This tax is different according to the autonomous region in which the building is, the different CCAA realize with the ISD tributary politics and at present there are big differences between the different regions. For example, in Madrid, the ISD is discounted (given) to 99 % when the donation or the heredity belongs to parents to children staying in all the cases very low quotas, near to 0.

Video of Vaya Semanita on the love and the mortgage. Only it was missing that in our bank us sugeriesen something like that to insure itself from that we are going to pay all the quotas.

With very good phrases like:

“What more I like in a man is that page his quotas on time”
“His salaries are done one for other”
“This woman had the well put fiscal incentives”.

What more irritates the users of the products of the banking is undoubtedly the commissions payment. In fact, it is the first cause of change of bank or box. It seems unjust to pay a commission for handling a money that is ours and to which the bank already extracts a yield to the power to operate with him when it is in our account without using.

So, nevertheless, they receive commissions from us: in a cash dispenser, realizing transferences to another account or for realizing operations that do not seem so costly for the bank like the direct debitings, the maintenance of the account or the annual quota of the card. In Spain, all the commissions are regulated by the Spanish Bank, which is who says the maximum amounts that can recover, then it depends on the politics of our bank to charge less or not.

In some occasions the commissions that load us rub the fraud. Have charged from anybody commissions or expenses of services that have not gone so far as to give? For example when a telephone service or of Internet it does not work, or works badly. Not also, if everything was working well, commissions should recover for acts of which the responsible only one is the bank. Sometimes a human error on the part of the bank (since to realize a charge for 1500 euros instead of 150) can leave the account in red numbers several days, which of course generates a few interests in ours against (debtors) and the awesome commissions of overdraft. Since even in this case there us has to detect it to us and to protest.

Apart from the services commissions there exist other abuses that are practised very often. The current regulation forces that to be dismissed of a product or service has to can be so simple as be discharged but sometimes it is not like that. There can be hired credit cards, insurances, etc., even on foot of street or by phone in spite of the fact that scarcely put the signature in the form that an agent has us prepared, but the day that we want to dismiss ourselves we will have to urge in one and another phone, to come in person, to send a fax, etc. it is not equal of simple for much that they proclaim. For not speaking about the small letter of the contracts, which, obviously, is so small that nobody reads it, unless the sight wants to be left in the attempt (it is that I have never understood that thing about “I am going to put this in small letter so that you do not read it”).

At present, it seems that there triumph the offers of the banks that all these annoying service commissions remove: transferences, cards, maintenance, etc. The Internet banks, like ING, due to his minors costs, can offer it. Also the big banks as the Santander or Bancaja do these promotions to the clients who fulfill some conditions like domiciling payroll, receipts, or having a certain investments balance.

What I wonder it is: Why do we have to go to fight with the bank and to "negotiate" so that they take the commissions from us? Do not they already gain enough moving our money when we have it in his accounts?

“The mister minister:

I write to him my situation mentions to him now that I can and he me pays attention because he wants my vote. It is the situation of the normal, hard-working citizens, with familiar responsibilities and difficulties to come in order month.

I would like that it was understanding which my problems are, with the hope that some day bears them in mind and looks for solutions, and that the promises that these days ago fulfill really. I am a young person from Madrid and, although I have a work, to part of the hours that I throw for less than 1.000€, there are many things that I cannot allow myself. I would like buying an apartment some day, more than anything because with what I wear out of rent at least it would have something in property, but with my mileurista salary I see it very difficult. The only housings that he might pay are those of Official Protection, which at least have a few more just prices. But in Madrid to gain access to the VPO is more difficult that it touches you the lottery. What are you going to do for my housing the mister minister?

I live of rent. It had always heard to say that there were many empty apartments but when I began to look for an apartment to rent was not finding them, everywhere, for 40 meters apartments or 50, they were asking me not only up to 700 euros a month, which supposes 70 % of my pay, but they were demanding from me bank guarantees or deposits of quantities which I have not. I thought of asking for help in the Offices of the Housing or in the Public Society of Rent, but it was in vain, so 40 % of help, according to his norms, I was not allowed to rent any of the apartments that existed there. Also, I have 30 and so many people and pass of the age limit for other helps.

And if it is already difficult to be able to pay to him a house, the following problem: financial conjuring to come in order month with what I have had left. He was saying to him that scarcely I receive 1000 euros, and everything in this country has not stopped rising, beginning for the bread, the milk, the gasoline, etc., everything except my payroll.

It has promised changes and fiscal reforms how, for example, to eliminate the Patrimony tax, but: in what will this benefit me to me? In nothing, it is a tax of rich. I hope I was paying Patrimony! Should he analyze this way his proposals? Do you try to benefit someone in particular, the mister minister? The normal and hard-working citizens since I we are majority in Spain and it would be a pity that was not bearing us in mind. There are other promises that, beforehand, are not so badly, how the exemption to the one who gains less than 16.000 euros. Anyway, I feel that they can do much more. Why, now when it can, does not it improve the deduction for rent? It has always been the big negligence of the fiscal and social politics.

And speaking about other things, mister minister, it is supposed that at present we have an economy of the well-being with a system of pensions and of health publics of which I personalemente am proud, but also I see some lack. My bank has already recommended to me a pension plan just in case, although I am still young. At present with what there receives an elder as my grandfather, a pensioner, it turns out to be difficult to live, impossible if it is necessary to pay monthly a rent or a letter of a mortgage loan. What measurements are you going to take so that the pension plan does not turn out to be obligatory? Are we going to have more retirement homes of public character for the people like my grandfather? If he does not know what costs a private residence, I make sure him that it is much more than it allows the pension and very few persons can be allowed to pay several thousands of euros to themselves a month in a private residence. How would say one that I know:“ I want that the grandpa … does not have to worry about these things”.

In the same situation there are the dependent or sick persons that the Social security cannot help and who need permanent care of a person. A dependency law exists already, but if you do not progress in the financing of this law it will not serve as anything. Certainly, he remembers, mister minister, that the social policy, the pensions, the employment and the health is what more has to develop and to take care in a country, since it affects all of us, especially of the weakest.

Soon the electoral campaign will have finished and I will be a normal citizen whom the powers ignore again, only I hope that all these promises forced by the proximity of the elections should serve for something. At least in my people that I have swimming pool, sports center or new highway asphalting every four years. Live through the democracy.

Anyway, mister minister, I wish him sincerely that he is fine very much, since his success is the success of my country, and therefore mine. As he would say someone: good night. and good luck.”

The “Mortgage Well-being” of the BBVA there has been chosen the best bank product of 2007 by the readership of the magazine My Portfolio of Investment, which elíge every year the best financial products.

Precisely we had spoken about her on having mentioned the banks that offer inverse mortgage in these moments, and were saying that information about she was not in Internet, not if he wants on the page of the BBVA. Apparently, it has all the characteristics of an inverse mortgage and also it turns into an annuity on having born a species of insurance for which, if the client overcomes the life expectancy that is assigned to him in the beginning, his monthly revenue can keep on charging. If the mortgage the contract a couple, and one of the two dies, other keeps on receiving the revenue.

Example:

“A 70-year-old person with a housing appraised in 300.000 euros would obtain a monthly revenue next to 700 euros to the month with the mortgage well-being”

The options of the heirs to return the loan, as we saw already in the article about inverse mortgages, are to sell the housing or to return the loan with proper money.

It is necessary to emphasize the good success that has had this Mortgage Well-being of the BBVA thrown in October of last year and that in only 5 months has been already chosen the best bank product of 2007.

Pedro Solbes announces today that if the Spanish socialist party gains the elections it will start a measurement so that the increase of the interest rates does not affect the Spanish families so much. It is a question of facilitating the enlargement of the mortgage to lower the monthly quota to pay, the novation. And there is no better way of facilitating it that removing the expenses of enlargement of mortgage: notary, record, bank commission of 0,1 %, and agency, which is calculated in more than 1.000 euros. Namely that goes out free to extend the mortgage.

It is still to specify how this is going to take end, but it seems that it will be only for those that really they need it, measuring revenues and the indebtedness capacity.

At the moment it is only another electioneering measurement. After the return of 400 euros of some, the exemption of the IRPF of others, the only thing that is missing is that also they give us a pan express, a china, the iron or a TV set, like the banks. Anyway, if some of us one can save thousand and peak euros of expenses, since welcome it is, and if they give me the gift DVD … I do not say anything to you

To that sure that it is going to come to them well this is to the banks, that they prefer any thing before having to remain with the house. This way Solbes insures himself that the low slowness.

We are going to continue the today debate, I hope someone announces that thing about the silverware.

Perhaps for the age any of us are not thinking about that thing about the inverse mortgage yet, but it can be an interesting product for our biggest. If we think a little about our parents or grandparents, it is sure that an extra money would come to them well every month as complement of the pension of the retirement. Since in Spain we have the healthy habit of spending big part of our life to us paying a mortgage, it would not be bad that at the time of the retirement we could enjoy the inverted money and that now it has form of housing.

It costs that we leave him a little to our heirs, but also we have deserved the power to give us some luxury and to enjoy to taste the little or much that we have left. Since for that the inverse mortgage is. Here it is explained in a more detailed way the advantages and disadvantages of the inverse mortgage.

As for the banks that offer the inverse mortgage, there are no yet many in Spain, but increasingly they are adding to his list of financial products this type of mortgages. Of course, each one with a different name: pension housing, mortgage pension, etc. These are the boxes and banks with inverse mortgage that we have found and that provide some information in his web:

• Box Blessed Virgin (FALL DOWN) - Pension housing
• Box Navarre - reversible Mortgage, something seemed on the contrary
• Caixa Terrasa – mortgage Pension
• Ibercaja - inverse Mortgage
• Caixa Sabadell - Pension housing
• - Vital Renta Mortgages Vital box
• BBVA - Mortgages Well-being, one speaks much of her but I have not found information

Does anybody know any other bank with inverse mortgage?

The last thing of the last of the crisis of the mortgages suboccupies first place this one has happened on the same Sunday: the nationalization of the bank Nothern Rock for the British government. Once we have seen that are the credits suboccupy first place, now it has to see why and of what way it can affect Spain the crisis of the mortgages suboccupies first place.

The loans suboccupy first place they have been spreading from the year 2002, especially in USA making use of the low interest rates. In 2007 it was already more than 20 % of the mortgage loans those that were of type sub occupy first place. That's why the crisis suboccupies first place it is today so serious as so that George Bush and Bernanke have to do interventions.

In multitude of occasions, in these mortgages suboccupy first place in addition to not being provided with guarantee either one is provided with insurances, therefore the only guarantee that is contributed is the proper housing. In the current situation it happens that in addition to that the American and world economy is showing weakness signs, a crisis has coincided the real estate sector. The apartments are already not the sure business with the spectacular growths that they had formerly and this provokes that the only guarantee that is contributed to the loan loses value.

The crisis exploited at the moment when they began increasing the non-payments. For the characteristics of the market of the USA the mortgages subgive priority to sound titulizadas. The term "titulización" is very important to understand why the crisis of the mortgages suboccupies first place fond of banks of the whole world. The titulización does that these mortgages are transmissible by means of qualifications between the banks and financial institutions, and it will be him who had acquired these rights the one who will have to face to his non-payment and to the crisis. This can lead to the failure to big banks in the whole world, in fact some financial institution declared itself already in bankruptcy in the United States.

All this provoked a crisis of confidence that did that not even the banks were ready to give him money between them. Hence it comes that the Central banks had to "inject" money and in the end. the bank crisis, and the interest rates like the Euribor rise and the quota of our mortgage rises. The mortgage Euribor came last December to his maximum in 4.79 %, although in January there have been descents.

I subgave priority to them in Spain

In Spain, fortunately, mortgages do not exist subgive priority given to the characteristics of our Property docket, where it is clear clearly who there is the owner of every building and of every mortgage and mortgages are not granted to the one who does not fulfill solvency requisites as there can be the guarantees, fixed employment, or establish an indebtedness limit to 40 % of the income. This does not remove that the Spanish banks or the agents of investments or of funds (IIC), being employed at an international environment, could have acquired these qualifications of the mortgages garbage or suboccupy first place of other banks of other countries like the United States.

Does anybody know that some Spanish bank that should have turned out to be really affected by the mortgages titulizaciones should suboccupy first place?