If there is no one-time repayment, the bank will call or SMS to remind you to repay on time, and there will be penalty interest. If you don't repay the loan for three times in a row, the bank account manager will collect it and will also have a penalty interest. If the overdue number reaches more than 6 times, your property may be frozen during this period. Loan contracts generally have default clauses and penalty clauses. If the borrower repays the loan on time, it only needs to repay the principal and interest normally. Once the borrower breaches the contract, the borrower needs to pay the corresponding liquidated damages or penalty interest according to the contract.

2. The property was finally auctioned:

If the bank's dunning fails, the bank will auction the mortgaged property through legal procedures. At this time, the disposal of the buyer's property has entered the judicial process, and then the house will be disposed of according to the relevant provisions of the contract terms of both parties, generally by auction.

3, lead to litigation:

If the borrower fails to pay back the money, the lending institution may bring a lawsuit to the court. If the borrower loses the case, he will not only face the auction of assets to pay off debts, but also bear legal fees, preservation fees, execution fees and attorney fees. If your house is not enough to repay the bank loan after the auction, the bank has the right to freeze your bank property. If the borrower refuses to repay the loan, it may be blacklisted. Generally, the person subjected to execution is blacklisted to restrict consumption.

4. Personal credit information is affected:

At present, many lending institutions have been networked with the credit information system of the People's Bank of China, and the credit stain of borrowers' non-repayment will soon be uploaded to the central bank's credit information system, so it will be very difficult to obtain loans through other lending institutions. The time of bad credit record is five years, and the bad credit record can only be eliminated if the loan is paid off within five years, which means that once the borrower fails to pay back the money, it will be difficult to borrow from the bank or apply for a credit card in the next five years.

How long is the mortgage overdue?

Usually overdue for 3 days will be reported. According to the regulations of the People's Bank of China, all card-issuing banks are required to upload customers' consumption and repayment records on a regular basis and cannot tamper with them. The bank won't make any bad comments on your usage records, but only truthfully feedback your historical usage records without any subjective judgment.

Loans overdue usually refers to the phenomenon that after the loan expires, the borrower fails to repay the principal and interest of the loan to the bank that issued the loan according to the loan term agreed in the loan contract, and fails to go through the relevant extension or lending procedures, resulting in the loan exceeding the agreed term.