Friends who have bought a house, do not easily cut off the supply. Once you choose to cut off the supply, the consequences will be very serious, not only will you not be able to escape debt, but you will also face more troubles and troubles. After the cut, you may face a more difficult situation than you are now, so be sure to consider carefully. A friend of mine once took out a loan in 18 years to buy a house worth about 1 million, and needed to repay a loan of about 4,000 yuan per month, and has been repaid for five years, with an average monthly repayment of more than 4,000 yuan.
The friend is now ready to cut off the supply, but he does not know if it is feasible to return the house directly to the bank after the interruption. In fact, this approach is not simple. Even if you return the house to the bank, the court will still require you to continue to repay and pay costs such as lawyer fees, litigation costs and bank penalty interest, which will be a big expense. After the bank auctions the property, it cannot pay off the loan even if the house is sold. If you are unable to repay the loan, you will have to continue to repay it until it is paid off. In addition, your income will also be used to repay the loan, which will affect your quality of life.
Therefore, when buying a house, you must do what you can and do not buy a house easily. Even a down payment of $10,000 requires careful consideration. Don't let impulse affect your future. If you can't afford a mortgage, it's best to consider selling your home rather than cutting it off.
Therefore, you must be cautious when buying a house and do not affect your future because of impulse. Even selling a home is better than cutting off the supply.