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mortgage loan types of mortgages explained in telugu by advocate sowjanya hyderabad

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please Follow On Facebook : https://www.facebook.com/Advocate-Sowjanya-355068781750845/ i’m Sowjanya M, Advocate from Hyderabad, Telangana Stata, INDIA.
i handle the cases of civil and criminal matters from only Hyderabad location.

Hello viewers in this video I’m going to tell you
What is Mortgage ? How many types of mortgages are there?

Mortgage means it is a type of security given at the time of taking loan.
Let’s assume that there is Buyer , who wants to purchase a house.
Example :
If a buyer wants to buy a house for 50 lakhs but he have only 10 lakhs with him then he will approach the Bank to provide him a loan of that remaining 40 lakhs to buy that house.
Bank will not give the loan amount directly to the buyer as first the buyer will make the down payment of 10 lakhs to the seller and bank will approve his loan and gives that 40 lakhs to the seller directly and Bank will keep all the Title Deeds and documents of the house with it as a security of loan given to the buyer. Loan agreement between the bank and the buyer and a Charge will be created between them.
If the buyer makes any default in the payment of the loan amount then the bank will sell this house and recover its loan amount ..this is called as Mortgage.
Mortgages will be of 2 types: they are .
Secured loans and
Unsecured loans.
In brief : Secured loans : Secured loans are those by which there is a security given to the lenders/ creditors.
Loan Against the property , that is property loans ,, which is called as Home loans.
Bike loan or Car loan , here there will be a note written on the document of bike or car RC as Hypothecation.
Gold loans .
Loans against securities like [ fixed deposits= FD , Mutual Funds =MFs, Shares , etc].
Unsecured loans:
Unsecured loans are those loans where is no security given to the creditors / lenders only based on the credit history the loan will be given.
Personal loans: Based on credit history.
[ CIBIL= Credit Information Bureau India limited ].

Educational loans.
Credit card debts .
Equity means the ownership,
Debt.

Ok viewers that’s all in this video. If you have any doubts please mail me or comment me.
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