Loan decompression means that the lender pays off the loan and cancels the mortgage. In the process of loan, there are many ways to mortgage the loan. For example, when some lenders apply for mortgage from banks, they will choose real estate as mortgage. Property mortgage means that the house is in the name of the bank, and the trading center will give the loan bank other rights. After the loan is paid off, the mortgage can be cancelled, that is, decompression.

How long does it usually take for mortgage decompression?

Whether it is a home mortgage loan or a mortgage purchase loan, the property needs to be mortgaged to a bank or a borrowing institution. Therefore, after the borrower settles the loan in the later period, it needs to go through the relevant decompression procedures. Of course, because after all, his house is mortgaged in the hands of others, the borrower must be more concerned about the specific decompression time.

The time of decompression procedure is uncertain. Generally, it can be completed smoothly in the shortest day. Generally speaking, the decompression time of private lending institutions is shorter than that of banks, and the decompression time of banks is about 15 days. After paying off the loan, the borrower may submit a decompression application to the bank or lending institution. Generally, if a staff member assists in going to the Housing Authority on the same day, decompression will be successful on the same day. Therefore, the specific decompression time depends on when the bank staff contact the borrower to help decompress.

After paying off the loan, the general borrower can take the relevant information to the local housing authority for decompression, and the staff will assist in decompression. After decompression, users can get their real estate license back.

What procedures do mortgage decompression generally need?

Generally, after the mortgage loan is settled, the bank will return the borrower's house ownership certificate, other ownership certificates and the mortgage registration application form issued by the bank. After filling in the application form as required, you can carry the above information and your valid ID card for decompression.

After the decompression is successful, the borrower also needs to check whether his own house book has a corrected mortgage record, including mortgage information such as mortgage term. After the decompression is officially completed, the property right of the house will be officially owned by the owner. If there is a demand for capital turnover in the later period, you can apply for a mortgage loan, but the uncompressed property cannot be used for a second mortgage.