There are three situations when a bank borrower dies, as follows:

1. Natural person guaranteed loan

If the borrower applies for a loan, he Relatives or other third parties have signed a joint repayment liability contract with the lending institution. In the event that the borrower is in arrears for a long time, the lending institution will require the guarantor to perform the guarantee obligation, assume joint and several repayment liability, and repay the remaining balance. payment.

2. Without any third-party guarantee

If the borrower chooses a house mortgage loan without any third-party guarantee, then if the overdue time reaches After about half a year, the lending institution will usually file a request for house auction with the court, and the auction proceeds will be used first to pay off the debt. Of course, if the family of the missing person repays the loan on their behalf, then after the loan is paid off in full, the family can go through the procedures to cancel the house mortgage and keep the house.

3. Unsecured loan

If the borrower initially chooses an unsecured loan and provides neither collateral nor a third-party jointly responsible person, then the loan will be No need to repay.