I took out a loan to buy a house but couldn't pay it back, so I ended up cutting it off. The bank can do whatever you want, I have decided not to pay anymore. Today I finally made this decision, and I feel extremely relaxed inside.
I bought this house in 18 years and it was one of the worst decisions of my life. At that time, I made a down payment of 250,000 yuan, a loan of 750,000 yuan, a total price of more than 1 million, and the interest was as high as more than 600,000 yuan. Not only did I spend all my savings and my wife's, but I also emptied the pension money of both parents, and my friend also borrowed some money. Now it seems that all this is too tiring. I have repaid the loan for 5 years, and I have to repay more than 4,000 yuan every month, but most of it is interest, and only a small part of the principal is repaid. My wife and I only have a combined monthly salary of more than 10,000 yuan, and we need to pay it back for 30 years.
The point is that now we are old and children are born. We can't sell the house because the child is premature and needs a lot of money. Last winter, the child contracted pneumonia and our financial situation became even more difficult. At that time, I had the idea of cutting off the supply. Due to the impact of the epidemic, the company has reduced the wages of employees in order to lay off employees. Now my wife and I only have a salary of more than 8,000 yuan, but we still need more than 4,000 yuan for a monthly loan. This is really helpless.
After all these things, I felt like I was about to become depressed. Thanks to my wife, she has always encouraged me that life cannot always be smooth sailing, there will always be setbacks and difficulties. During the pandemic, our lives have been greatly affected. My wife and I both have contracted the virus, which makes us very worried.
At that time, I went to the pharmacy to buy special medicine, one medicine cost tens of yuan, we need to eat five to ten pills a day, which is equivalent to our meal money for a week. This makes us very helpless. In order to save money, my wife had to carry it on her own. Since we have this mortgage, we can't go out to play, eat, or get sick. We must proceed with caution and offer the house as if it were our ancestors.
I'm worried about insomnia at night now, and my wife will wake up in the middle of the night worried that someone will come to collect the debt. I feel like my wife has been having some nervous breakdowns lately. The other day I went to the house in the neighborhood and found that the house price had dropped. Then I went to the agency and wanted to know the current market. I was flabbergasted.
I wanted to sell the house and pay it back, but I still owed more than 500,000 to the bank, which made me desperate. In order to repay the mortgage, I have really been too tired over the years, just like Mr. Zhang Weijian said. What do you want to say to your grandson? Do you know what was the greatest thing about your grandfather's life?
I paid off the loan, but this is a sad thing, especially for the 80s and 90s. Therefore, I decided to stop paying the loan and the bank did whatever you wanted. If there is a better solution, please let me know, I don't really have any more options.