After paying off the mortgage, you need to bring your ID card, loan settlement certificate and other documents to the housing management department to go through the mortgage cancellation procedures, because only after completing the mortgage cancellation procedures can you transfer the property to your own name and truly own the ownership of the property. If you don't go through the mortgage formalities, then even if you pay off the mortgage, the house still belongs to the bank. In future transactions, you will not be able to buy and sell normally, which will eventually lead to your default! Therefore, after paying off the mortgage, everyone must pay attention to the procedures for solving the mortgage!

Second, the surrender procedure.

When banks handle mortgage loans, they often ask buyers to handle some related insurance business as a guarantee to prevent mortgage risks, that is, when buyers refuse to repay their mortgages, banks can also claim compensation from insurance companies. This means that even if the property buyers pay the insurance, the first beneficiary is generally the bank! When the mortgage is paid off, you naturally need to go to the insurance company for surrender procedures, otherwise you need to continue to pay the fees, which is undoubtedly a waste of money.

Third, exit the program.

Loans to buy a house, some developers will require buyers to pay a deposit. Although this is unreasonable, you can't buy a house without paying a deposit. In desperation, many property buyers can only pay the deposit. After paying off the mortgage, buyers can go to the developer to refund the deposit. If the developer refuses to return it, then the buyers will have to take up legal weapons to safeguard their legitimate rights and interests. Don't compromise!

4. Liquidation procedures.

After paying off the mortgage, the first task of buyers is to go through the formalities of settling the house loan. Because the subsequent procedures require the borrower to provide proof of settlement of the house loan. If you don't go through the formalities of settlement, you can't go through the subsequent formalities. Don't forget the order, it will affect your efficiency!

Verb (abbreviation of verb) insurance cancellation procedure.

Many property buyers have chosen the guarantee institutions to guarantee when handling the mortgage "business-to-business", and they have also paid a lot of guarantee money for this. After the mortgage is settled, the guarantee shall be released in time and the guarantee deposit shall be returned. If the time is delayed too long, the guarantee will be invalid.

What is a mortgage loan?

Mortgage, also known as house mortgage. Mortgage means that the buyer fills in the mortgage loan application form to the bank and provides legal documents such as ID card, income certificate, house sales contract and guarantee letter. The bank promises to grant loans to the buyer after passing the examination, and handle the notarization of real estate mortgage registration according to the house sales contract provided by the buyer and the mortgage loan contract concluded between the bank and the buyer. The bank directly transfers the loan funds to the seller's account within the time limit stipulated in the contract.