Recently, the Russian-Ukrainian conflict has entered a white-hot stage, and the war will inevitably cause the buildings to be bombed, so if the commercial houses we buy with mortgages are bombed, do we still need to repay the mortgages? For this question, we must look at the scale of the war, if the scale of the war is relatively small, most of the time everyone needs to repay; but if the scale of the war is relatively large, it is possible that even the banks have been blown up, at this time of course, there is no need to pay back!
Under normal circumstances, whether or not to repay the loan has nothing to do with whether everyone's house is damaged
Some friends will say that the house has been blown up, it no longer exists, the loan will naturally disappear, and what loan will be repaid, in fact, this idea is too simple.
People who have a certain understanding of contract law or strong logical thinking should know that buying a house and a loan are actually two independent events and have no direct relationship; buying a house is a behavioral relationship between everyone and the developer, and the mortgage is a behavioral relationship between everyone and the bank. To put it more simply: you buy a house from the developer, but your money is not enough, so you go to the bank to borrow money to buy, after the purchase you and the developer will be cleared; for the bank, the bank is willing to borrow you, on the one hand, your personal qualifications are good, meet the loan conditions, on the other hand, the bank will generally require you to buy the house as collateral, for your loan to make a guarantee measure. Because of this, in reality, when we buy a house, we generally sign two contracts, one is the real estate sale contract (signed with the developer) and the other is the real estate mortgage contract (signed with the bank).
We have relationships with banks
From the above analysis, we can see that our relationship with the bank is a simple lending relationship, the bank is our creditor, the house is not the bank's, but our own, and we can also see on the real estate title certificate that the owner is us. Of course, because we have a loan, this house sets a mortgage in the bank for our loan, so the other right witness of the house is the bank, but this is only a safeguard measure for the bank's own claims, so that when you can't repay the loan on time, you can make up for the money you owe to the bank by auctioning the house.
When the house is blown up, the equivalent of the collateral does not exist, but your loan relationship with the bank does not disappear directly, for the bank, it is just the lack of collateral, the risk mitigation means become weaker (when you can not repay, there is no property to auction), so you still have to repay; but for you personally, it is really a major loss, after all, your house does not exist in this world.
Of course, in reality, if there is really a local war and the house you just bought is blown up, the relevant local departments will generally intervene and take corresponding measures to deal with it, such as:
1. Debt forgiveness.
If the degree of damage in the war is high, such as the houses in some areas are blown up, the normal working life of the residents in the area is affected, and there is even no stable source of income from work after the war, then it is likely that the loan will be forgiven directly.
2. Deferred repayment.
If the war is less destructive, only a few houses are destroyed, then a policy of full exemption will generally not be introduced, which may be to extend the repayment period or give interest-free means.
3. Repayment by the insurance company.
At present, when many banks are dealing with mortgage loans, some banks will require lenders to buy housing insurance (some banks will buy insurance for collateral at their own expense), in this case, the house is bombed, and finally it should be repaid by the insurance company!
If there is some large-scale war, then the mortgage will basically not have to be repaid.
If the scale of the war is relatively large, involving a wider range, then the social economy will be affected, and even the collapse is possible, and the lender may also die in the war, then do not talk about what repayment is not repaid, under the large-scale war, even if the lenders are alive and jumping, the society will also have a large number of default debts, because everyone is unable to repay, so after the end of the war, it is equivalent to a social restart, what loan is repaid at this time?
summary
Under the war, don't think about the mortgage anymore, at this time, you want to think about how to survive, after all, at this time, survival is the most important thing!