Recently, there have been frequent reports of foreclosures and supply cuts. If the loan is not paid and the house cannot be sold, can I give up? Is it okay to let the bank auction and return the down payment to me? Don't think that way. The consequences of the supply interruption are serious, including being sued by the bank, poor credit records, and low-price auctions. The auction price is often much lower than the total price at the time of purchase, and the bank needs to repay the difference.
The consequences of a supply cutoff are not just personal problems, but also affect banks, developers and auction houses, among others. Banks do not lose a penny, and legal fees, auction fees, etc. are borne by individuals. Therefore, a supply cut off will make a person bear all the losses.
If the supply is not dealt with in a timely manner, it may be enforced, such as the court seizing the assets and auctioning them to repay the loan.
For example, if you buy a house worth one million, make a down payment of 500,000, take out a loan of 1 million, and have repaid a loan of 100,000, at this time the market value of the house is 1 million, if the supply is cut off and wait for the bank to sue, the court assesses that it is only worth 800,000 percent of the current house price, that is, 800,000.
In the end, the auction price will be discounted by another eight, that is, 640,000. If someone buys your house for 640,000, then the 640,000 will all be deducted by the bank. After deducting these expenses, it is also necessary to repay the bank arrears, including legal fees, litigation fees and auction fees, which will cost about 150,000 yuan. Together with the previous 260,000, a total of about 400,000 needs to be repaid to the bank.
If you do not repay, you may be included in the list of untrustworthy, affecting consumption and travel, and even affecting children's education. Therefore, if the loan cannot be repaid on time, it is best to take the initiative to contact the bank and apply for a loan extension.
Finally, remind those who plan to buy a house with a mortgage that they must seriously consider their repayment ability before deciding to buy, otherwise they may regret it. Like, retweet, favorite.
