Toyota Avanza Owners & Discussions [continued]

[wilmar]

Kailangang kausapin ng heirs ang bank kung gusto pa nila i-assume ang amortization at ilipat sa kanilang name ang mortgage. Kapag hindi nila nagawa ito at nagkaroon ng default sa payment, malamang na i-foreclose ng bank ang mortgage at kunin ang unit. Then, yung paid amortizations will be considered as rent for the use of the unit.

So ibig sabihin sir ay itutuloy ang pagbabayad kahit namatay ang tagapagbayad...Di pala ito katulad ng housing loan

[juris2010]

So ibig sabihin sir ay itutuloy ang pagbabayad kahit namatay ang tagapagbayad...Di pala ito katulad ng housing loan

Depende sa heirs kung gusto nila ituloy ang loan. Hindi mawawala ang utang dahil lang namatay ang debtor. In legal parlance, ang estate ng deceased ang pagmumulan ng pambayad ng amortization unless gusto i-change of name ng mga heirs sa kanila para buo pa rin ang estate. Kaya mas mainam na inform na nila ang bank re the death of the debtor para maka-pagprepare na proper documents.

[puroy]

Hi guys! May tanong lang po ako, kung sino man nakaka alam. My friend's father died due to a heart attack, kaya lang 1 year palang nila nahuhulugan thru bank ang car nila which is named after his father. Ano kaya mangyayari sir sa tsikot nila? kukunin ng bank? papabayaran? ipapasa sa kapamilya? hindi pa nila na inform ang bank about it but they are still paying.

ang alam ko doon sa contract may co-debtor dapat. so in case na deceased na yung primary, sisingilin ng bank yung co-debtor. afaik

[knight0901]

Thanks for the reply guys, housing loan thru pag ibig lang kasi ang alam ko, but pagdating sa cars, hndi. But what if the heirs does not meet the requirement of the bank? His mother is a housewife, has 2 sisters both in college and him, 1 year pa lang nagwowork. They have too many problems at hand kaya as much as possible, would like to lend a hand. Anymore incites would be very appreciated.

[Ginnova]

May MRI yan. For bank loans you are required to pay for that insurance 1st before they give a release order to the dealer. It's one way of protecting the bank incase something happens to the borrower. Pag car loan, 1 time payment yan unlike sa housing loan na yearly ka nagrenew.
So dapat i-assume ng insurance company yung balance ng loan.


MORTGAGE REDEMPTION INSURANCE

• It protects all lending businesses by assuming payment of the deceased debtor's loan.
• Coverage amount is based on the theoretical balance of loan.
• Each insured Mortgagor shall be covered in accordance with the loan schedule as submitted by the Creditor/Lender under which the death benefit shall be equal to the outstanding principal balance computed at the specified interest rate.
  
• EFFECTIVITY DATE AND TERM OF COVERAGE – starts on the date the loan is granted or the date the proceeds of the loan are released whichever is later.
  
• For long term loans – Housing ,Car, Salary, Jewellery Loans etc.
• Lower premium cost.
  

[wilmar]

May MRI yan. For bank loans you are required to pay for that insurance 1st before they give a release order to the dealer. It's one way of protecting the bank incase something happens to the borrower. Pag car loan, 1 time payment yan unlike sa housing loan na yearly ka nagrenew.
So dapat i-assume ng insurance company yung balance ng loan.



MORTGAGE REDEMPTION INSURANCE

• It protects all lending businesses by assuming payment of the deceased debtor's loan.
• Coverage amount is based on the theoretical balance of loan.
• Each insured Mortgagor shall be covered in accordance with the loan schedule as submitted by the Creditor/Lender under which the death benefit shall be equal to the outstanding principal balance computed at the specified interest rate.
  
• EFFECTIVITY DATE AND TERM OF COVERAGE – starts on the date the loan is granted or the date the proceeds of the loan are released whichever is later.
  
• For long term loans – Housing ,Car, Salary, Jewellery Loans etc.
• Lower premium cost.
  

For clarification sir.. im a bit confused, Kapag car loan kailangan ituloy ang bayarin kapag namatay ang debtor.kapag housing loan/Personal Loan, bayad na lahat kapag namatay ang deptor....Am I right Sir?

[cktlcmd]

For clarification sir.. im a bit confused, Kapag car loan kailangan ituloy ang bayarin kapag namatay ang debtor.kapag housing loan/Personal Loan, bayad na lahat kapag namatay ang deptor....Am I right Sir?

From what I understood from the post above... if the deceased has paid his MRI... then the family left can rest easy cause the car will be paid by the insurance firm.

...

[juris2010]

There's nothing wrong with the definition of MRI above however, it is misleading. This is one of the kinds that insurance companies offer to the public. But in this case wala naman sinabi na nag avail ng ganitong insurance benefit ang deceased kaya hindi tama na i-apply ang MRI. To clear the matter, ang co-debtor ang hahabulin ng bank in case of default in the payment of amortization. Kaya mas maganda na i-inform na ng heirs ang bank para ma-change ang primary debtor or di kaya ipa-auction na lang ang unit para pambayad sa loan.

[cjsdaddy]

hindi naman yata lahat ng car loan may MRI. sa housing loan, automatic meron. sa TFS, as far as i know, wala. don't know sa bangko.

[cjsdaddy]

eto napo yung pictures ng items for sale:
galing po ulit sa avanza 1.5G, sorry if natagalan yung pics.
PM or contact 09285077847 for info. thanks.

how much console?