When it comes to buying a house, some people are worried that the down payment is not enough, some people are worried that the interest rate is too high, some people are worried that the house price will fall, and some people are worried that after buying a house, the mortgage will be overdue due to unexpected circumstances such as job changes, resulting in the risk of overdue mortgage.
Generally speaking, mortgage arrears will face prosecution in the end. But in practice, most of the time, banks do not resort directly to the law. The general processing process is: first telephone collection or letter notification, if the lender is not yet fulfilling the repayment obligation, the bank loan officer will come to the door to collect, if still not performed, the last will sue.
Specifically, if the mortgage is not repaid on time, you will receive a bank phone call, a letter reminder notice, a penalty interest penalty and a credit report on the last overdue repayment record. And during this period, there will also be late fees, which accumulate more and more.
Mortgage overdue risk
1. Credit information is damaged and loan difficulties are difficult
Loan is a kind of lending relationship between the buyer and the bank, once the home buyer's mortgage is overdue, the bank's repayment record will show the corresponding loan overdue record. On the bank's credit reporting system, the lender's untrustworthiness will be recorded, and it will become extremely difficult for the lender to apply for a loan again or apply for a credit card in the later stage, such as the need to use personal credit.
It should be reminded that even if the overdue mortgage will make up the payment, the personal credit stain will still be recorded on the bank's credit reporting system, up to five years.
2. Pay penalty interest and late fees
In any case, the money owed to others must be repaid after all, and those who overdue repayment, in addition to repaying the basic loan, also have to pay additional penalty interest and late fees due to the overdue mortgage.
Regarding the specific amount and proportion of penalty interest and late fees, individual banks vary slightly. Basically, the mortgage is made up within 7 days, and no late fee is charged; more than 7 days, the late fee and penalty interest are levied together.
3. Sued by the bank and still have to repay the remaining loan
When the buyer buys a house, he will sign a home loan contract with the bank, in the contract, the bank will generally make a provision, if the lender is overdue for 3 consecutive times or accumulated 6 overdue repayments, it will bear the corresponding liability for breach of contract, including the one-time repayment of all the loan principal and interest. If the remaining loan is not repaid for more than 3 months, the bank will file a lawsuit with the court, forcing the lender to repay the principal and interest, as well as additional expenses such as various litigation costs arising therefrom.
4. Life is affected and travel is restricted
When personal loans rise to the level of legal proceedings, the situation becomes very serious, not only to face the risk of repayment, fines, and untrustworthiness, but also to affect their daily lives. For example, if you buy a train ticket, the plane ticket may be rejected, you can't go abroad, etc., and you will be pulled into the blacklist. In this era, without credit, it is really difficult to move forward.
Ways to resolve mortgage overdue
1. Apply for deferral of loan repayment
If you are unable to repay your mortgage for the time being, don't be there without saying a word until it is overdue. You can apply to the bank in advance before the maturity date of the mortgage, and after the approval of the lending bank, you can get a temporary relaxation. In this way, the risk of mortgage overdue can be avoided temporarily.
2. Transfer or sale of housing
After obtaining the bank's deferred repayment approval, during the relaxation period, those who are still unable to complete the repayment of the loan can consider selling the house at this time. By transferring, selling, and obtaining loan repayment funds, the lender himself is freed from the quagmire of the mortgage, and the newly owned person who owns the property rights of the house continues to perform the repayment business of the house.
![This is the consequence of betraying Uncle Benshan, today a hot search Jiaojiao proposed to quit Benshan Media, but what she didn't know was that if you quit Benshan Media, you couldn't still be as popular as before[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)