Mortgage EMI Sleeping Period
The mortgage EMI Sleeping Period offers mortgage borrowers a break from making mortgage EMI payments, It allows borrowers to utilize their EMI payments for other emergencies. Mortgage EMI Sleeping Period can be a huge relief to borrowers presently as the interest rates have been increasing. A mortgage EMI Sleeping Period can be a huge relief for both corporate and retail mortgage loan holders as it relaxes their financial burden.
Mechanism:
• Loan backed by asset at LTV of 60-65% and less (means 40-45% paid). This means paid by the consumer 45% plus of the mortgage loan which is the consumer's asset.
• The remaining will be paid by Money Protects arrangements for a fixed period on a fixed Rental rate, For instance, 6% for periods of 11 rollover months.
• The Money Protects arranged fund will be used to settle the loan. The prorated ownership will be allocated for the period and the previous single owner will pay the rental for the period agreed.
• Both parties will benefit from this process, one will generate income and the other will have a locked period of not paying the principal.
• On maturity, the first owner will have to pay back the investor. In case of any breach, or default after up to 5 years the property will be sold, and investor money will be paid off or effective any mutual agreement.
The benefits of the Mortgage EMI Sleeping Period are detailed below.
Increases saving ability for a short-term need
Mortgage EMI payment funds can be used for personal urgencies
Offers flexibility in EMI payment structure where banks lack.
Borrowers enjoy11 months of EMI rollover for up to 5 years.
Opportunity to benefit from the favorable interest rate increase.
Take a nap if the Interest rate is very high.
