Once the mortgage is overdue, the lender will see your overdue repayment record. If it is a strict bank, even if you are only one day overdue, the bank will input the overdue information into the central bank's credit information system. Once the overdue records enter the credit information system, it will have a serious impact on users' future application for credit cards or loans. Even if they can get loans, the loan amount will be greatly reduced.
2. Generate corresponding penalty interest and overdue fine.
No matter what the reason, as long as your mortgage is overdue, the bank will call to remind the borrower to repay, and as long as the repayment is overdue, there will be a penalty interest. The penalty interest of different loan banks is different, which is basically 30%-50% higher than the original loan interest rate.
3. Be sued by the bank.
Banks will set default clauses in mortgage contracts. If the loan is overdue for three consecutive times or six times, the borrower will be required to repay all the principal and interest of the loan at one time.
If the user's mortgage is unpaid for more than 3 months, the bank will bring a lawsuit to the court according to the loan contract and guarantee contract. The court will take measures such as property preservation, freeze deposits in all bank accounts of lenders and guarantors, and seal up pledged property.
2. How long will loans overdue be prosecuted?
If you haven't paid your bill for more than three months, it's very serious. If the loan bank collects the loan according to law, it will bring a lawsuit to the court according to the loan contract and guarantee contract (mortgage or pledge contract), and the court will take measures such as property preservation, including freezing the deposits in all bank accounts of the lender and loan guarantor and sealing up the pledged property.
After the judgment is made, the property will be enforced according to law (deducting deposits, auctioning collateral, etc.). ) to repay the bank's loan losses. Specifically, it includes: loan principal, loan interest, overdue interest, penalty interest, all litigation costs arising therefrom, and related expenses incurred when disposing of pledged property.
Legal basis: Civil Code of People's Republic of China (PRC).
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 time limit, it shall pay the overdue interest in accordance with the contract or the relevant provisions of the state.