Once overdue, it will be blacklisted: under normal circumstances, the bank will notify you by phone or SMS when the mortgage is overdue for the first time. At the same time, lenders will be blacklisted, which will seriously affect personal credit. Loans, credit cards and even jobs will be implicated in the future.
Overdue for two times or being urged at home: in the second month, if the lender still fails to repay the loan, a banker will come to the door or go directly to his unit to urge.
Three overdue judicial proceedings: if the lender fails to repay the loan for the third consecutive month, the bank will send him a letter. At this time, it also marks that the disposal of the buyer's property has entered the judicial process, and then the property will be auctioned.
Real estate auction overdue for more than six times: if the repayment is overdue for more than six times, the bank lawyer will call the lender to remind the lender of the consequences of not paying on time, and the mortgaged real estate of the lender will be frozen during this period. Subsequently, the bank will negotiate with the lender about repayment. If the repayment cannot be made after negotiation, the bank will auction the property through legal procedures.
After the real estate auction, if the auction price is not enough to pay off the remaining loan, the borrower needs to continue to repay until it is paid off. Prior to this, the down payment and deed tax paid by the property buyers were all paid to the water drift, and even related expenses such as lawyer's fees, legal fees and court enforcement fees. It was paid at the property auction.
Second, what should I do if the mortgage is not up yet?
If it is only temporary cash flow difficulties or delayed payment of wages, and you are not unemployed, there are three ways to deal with it.
1. Request to suspend repayment of principal. The borrower can negotiate with the bank and ask for temporary repayment of interest, not principal. Because the bank has a house as collateral, it will generally accept the borrower's proposal and earn more interest. As far as banks are concerned, as long as borrowers don't evade debts maliciously, banks have no losses.
2. Extend the repayment period. If the previous repayment period is relatively short, you can apply to the bank to extend the repayment period. The longest loan period of a bank is 30 years, so after the opening period, the monthly repayment amount will be reduced and the borrower will be able to repay it.
3. borrow money from the bank again. In order to meet the needs of mortgage customers, many banks have launched "financial mortgage" to facilitate mortgage customers to lend out their own mortgages for use. However, the interest rate of the loan amount is a little higher than the mortgage interest rate.
In order to prevent risks, generally speaking, the repayment amount accounts for 50% of income as a reasonable line and 30% as a comfort line. In addition, it is worth noting that for families with children, children's living and education expenditures account for a large proportion. On this basis, the proportion of low monthly payments to family income is appropriately reduced.
legal ground
People's Republic of China (PRC) Civil Code
Article 675 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.
Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.