Da Minmin real estate knowledge sharing: don't cut off the supply when buying a house! Once the supply is cut off, the consequences are serious, and it is not enough to pay off the loan. Cutting off supplies will put you in trouble, more uncomfortable than you are now. Why? The loan repaid each month is actually the principal plus interest, and the loan amount is much greater than the borrowed amount. After the interruption of the supply, the bank will sue, and although the house has been returned, the court still requires continued repayment, and also needs to bear the lawyer's fees, litigation costs and penalty interest. Why? The proceeds from the auction were not enough to pay off the debt, as the foreclosure price was much lower than the market price. The house is gone, the loan is still there, the credit report is damaged, the credit card is restricted, the travel is inconvenient, and it is worse than normal repayment. Do what you can and don't force yourself into the car. Buyers should not cut off the supply, and prefer to sell at a reduced price when the pressure is high. Remember to like and follow!
