Housing loan contract and housing sales contract are two completely different contracts. Although they are all caused by the house, the performance of the contract is independent of each other. This means that no matter what happens to the house, including damage and collapse, it will not directly affect the execution of the house loan contract. The earthquake caused the house to collapse, and according to the contract, the buyer still needs to continue to repay the loan.
The earthquake caused the house to collapse and the mortgage had to be paid back!
The house is gone, and the mortgage has to be paid. Emotionally speaking, many people can't accept it Natural disasters such as floods and earthquakes are force majeure, which leads to the collapse of houses. Banks may allow buyers to temporarily stop repayment from the perspective of humanization, and the extension time of mortgage will not be included in the personal credit report.
What will the bank do?
Everyone must remember the profound disaster, huge casualties and property losses brought by Wenchuan earthquake to the people of China. Regarding the repayment of loans after the earthquake, the central bank and the China Banking Regulatory Commission specially issued an urgent notice, requiring banks not to collect, default on interest or make bad records for units and individuals that cannot repay various loans on time. For loans that have been issued before the disaster and cannot be repaid on time after the disaster, the repayment can be postponed for 6 months, and there is no dunning, no penalty interest and no bad record before the extension expires.
At the same time, if the lender loses a lot, the loan may not be repaid. According to the Emergency Notice on Doing a Good Job in the Write-off of Non-performing Loans in the Banking Industry Caused by the Wenchuan Earthquake in Sichuan, banking financial institutions should promptly write off the debts that caused huge losses due to the earthquake and could not be paid by insurance, or debts that could not be repaid after being paid by insurance or guarantee, in accordance with the Administrative Measures for the Write-off of Non-performing Loans in Financial Enterprises.
Such terms make it unnecessary for lenders to continue to repay loans. If the lender is really unable to continue repayment, the bank has the responsibility to give up the mortgage, and the loan loss shall be borne by the bank. In other words, after certain conditions are met, the house is gone and the loan need not be repaid.
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Of course, the financial policies related to the Wenchuan earthquake are aimed at the Wenchuan earthquake itself and are not applicable to the losses caused by natural disasters in other regions. In general, houses collapse because of ordinary earthquakes. If there is no targeted national loan exemption policy, the mortgage will still be returned as scheduled.
If a serious natural disaster occurs, it is still possible for the state to introduce a unified policy like Wenchuan, and treat loans as bad debts. In addition, the lender can also apply for civil relief and may get some economic compensation.
What should I do if the house collapsed due to natural disasters is still owing on the loan?
In recent years, various natural disasters have occurred frequently in our country, and all kinds of typhoons, earthquakes and tsunamis that occur once in a hundred years have been witnessed by us in just over ten years. Is this "well informed"? Then after the disaster, everyone may be concerned: If the house collapses after the disaster, will the bank mortgage continue to be paid if our previous house was bought by loan?
In recent years, various natural disasters have occurred frequently in our country, and all kinds of typhoons, earthquakes and tsunamis that occur once in a hundred years have been witnessed by us in just over ten years. Is this "well informed"? Then after the disaster, everyone may be concerned: If the house collapses after the disaster, will the bank mortgage continue to be paid if our previous house was bought by loan?
1. What should be done with houses damaged by natural disasters?
Housing is the "big head" of family property, and the government pays special attention to disaster prevention and relief. The disaster relief funds and policies of governments at all levels include the restoration and reconstruction of houses damaged by disasters.
2065438+May 2007, the executive meeting of the State Council decided that the central government should adopt a unified standard for emergency relief subsidies such as typhoons, and greatly raise the level of subsidies, and at the same time greatly raise the central subsidy standards for families of victims of serious natural disasters, transitional living assistance and restoration and reconstruction of damaged houses.
Second, do you want to pay the mortgage for the house damaged by natural disasters?
The answer is yes, the mortgage is still to be paid. Because the house is only a guarantee for the borrower to borrow from the bank, if the house is lost, the mortgage will change from a secured loan to an unsecured loan, but it does not mean that it does not have to be repaid. When the mortgaged house is damaged or collapsed due to flood, the mortgaged house is damaged or even lost, but the bank mortgage right has not been eliminated.
If the flood only causes partial damage to the mortgaged house, the bank can exercise the mortgage right on the remaining house, and the debtor still has the obligation to pay off the unpaid part. If all mortgaged houses are destroyed due to flood, the mortgage will be destroyed due to the loss of collateral. As the mortgaged property, the debtor shall still bear the obligation to pay off the part that is not repaid.
In other words, even if the house depreciates or is damaged, the bank can repay the loan by advocating compulsory execution of the borrower's other property.
Third, how to deal with the three situations?
1, the house is empty, and the monthly payment continues.
After the earthquake, if you are still alive and your house is gone, according to the domestic contract law and the mortgage loan contract signed by the borrower and the loan bank, the borrower is still obliged to pay off the outstanding loan principal and interest.
In other words, if your house collapses, you must continue to pay the monthly mortgage. Loans are the relationship between banks and borrowers, and houses are collateral and supplements. So the house is gone, and it can't be used as an excuse not to pay the mortgage. But in this case, the country will have some corresponding policy adjustments.
2, the house is still gone, and the house has become a legacy.
For the case that the house is still alive after death, according to the relevant provisions of the Inheritance Law, the house is included in the person's estate. First, the heir will use the person's estate to pay off the person's debts (including mortgage loans and other debts), but paying off the debts is limited to the actual value of the person's estate.
There is no legal basis for "father's debt to son" Of course, the law does not prohibit heirs from voluntarily repaying debts that exceed the actual value of the estate.
4. If you buy insurance, can you make up for the loss?
In family property insurance, there is a kind of disaster loss insurance, which can be used in this disaster situation. So many friends went on to ask, if you buy insurance for your house, can it also be used to repay the mortgage and make up for the losses? In fact, family property insurance is mainly aimed at houses without loans.
There is also a kind of house with loans, which is comprehensive insurance for personal mortgage housing, referred to as "mortgage insurance". The property loss liability in mortgage insurance covers the losses caused by fire, explosion, storm, rainstorm and other reasons, and the insurance company will pay compensation. In the specific compensation link, the insurance company will compensate according to the market price of the damaged property, but the compensation amount will not exceed the insured amount.
In addition, there is property liability insurance. If the owner has neither buyer's property insurance nor housing loan insurance, as long as the community has invested in property liability insurance, it is possible to get claims from the insurance company after a typhoon or rainstorm.
The earthquake caused the house to collapse. Do you still need to pay the mortgage? What will the bank do?
Due to the collapse of the house caused by the earthquake, buyers still need to continue to repay the mortgage according to the contract. However, if the lender has a huge loss and the lender is really unable to continue to repay the loan, then the bank has the responsibility to exempt the mortgage.