Whether you will be sued if your mortgage is overdue for 6 times depends on the situation. For example, if the user pays off the overdue debt every time it is overdue, then the bank will not sue the user. If the user's mortgage has been overdue six times in total, and the sixth time has been overdue for a long time, and the bank has repeatedly called the user but still does not repay, the bank may sue the user because the bank will determine that the user is suspected of maliciously overdue. In addition, the home loan was overdue a total of 6 times. Although the user paid off the overdue debt, the user's credit report was later changed to a status of concern, and it was basically difficult to pass the loan review if he applied for other loans later.

What are the consequences of an overdue mortgage loan?

1. Bad personal credit record

Once a mortgage loan is overdue, whether it is a commercial loan or a provident fund loan, the lending bank will You can see your overdue repayment records. If it is a relatively strict bank, even if you are only one day overdue, the bank will enter the overdue information into the central bank's credit reporting system. Once the overdue records are entered into the credit reporting system, it will have a serious impact on everyone's future applications for credit cards or loans. Even if you can get a loan, the loan amount will be much lower.

2. Incurring penalty interest and late payment fees

If the mortgage loan is overdue, the bank will remind the borrower to repay via phone call or text message. Late repayment will incur penalty interest. Different loan banks have different penalty interest rates, which are basically 30-50% added to the original loan interest rate. Generally speaking, the bank will give everyone 7 days to make up the outstanding balance. If all the funds that should be repaid can be made up within 7 days, then there will be no late payment fees. However, if it exceeds 7 days, the bank will charge penalty interest and late payment fees.

3. Risk of seizing mortgaged properties

Banks generally set default clauses in mortgage contracts, requiring borrowers to repay in one go if they make three consecutive or six cumulative overdue payments. All loan principal and interest. If the home buyer fails to repay the mortgage loan for more than 3 months, the bank will file a lawsuit with the court in accordance with the provisions of the loan contract and guarantee contract. The court will take measures such as property preservation, freeze the deposits in all bank accounts of the lender and guarantor, and seize the mortgaged and pledged properties.

How to avoid overdue mortgage loans

1. Keep the loan repayment date in mind

Check the repayment date and repayment amount on your loan contract, and be sure to You have a clear idea of ??how much money you have to repay when you repay the loan on time.”

2. Make good use of automatic repayment

Many bank cards provide automatic deduction functions. You can bind a savings card and automatically repay three days before expiration. The premise is to ensure that there is money in this card, otherwise the automatic repayment fails and you forget to repay, then the loan will be overdue.

3. Keep sufficient repayment amount

After receiving salary every month, first deposit part of it into the repayment account, and deposit sufficient repayment amount in advance to avoid The full amount cannot be deducted on the repayment date, because a few dollars can cause overdue payment.