1. The borrower’s credit is affected. Since banks attach great importance to the borrower's personal credit, if the loan is not repaid, the personal credit will be affected, which will directly affect the borrower's future loans.

2. Penalty interest will increase the pressure of repayment in the future. If the borrower fails to repay the loan, penalty interest will be incurred as time goes by, which will increase the borrower's repayment pressure.

3. The bank calls for collection. If the loan is overdue for one or two months, the bank will not sue immediately. Generally, it will call the borrower first to urge the borrower to repay. If it still does not work, the bank will have a dedicated person. Come forward to communicate and discuss with the borrower.

4. Sue for auction of collateral. If you are sued to court for repaying a loan and still fail to repay the loan after the court's judgment is executed, you will be included in the "list of dishonest persons subject to execution", also commonly known as the "list of dishonest people", and will be prohibited from traveling by airplane, high-speed rail, etc. . If the borrower provides collateral as collateral for the loan and is unable to repay the loan after repeated calls, the collateral will be auctioned off and used to repay the loan.

What can you do if you can’t pay off your mortgage loan temporarily?

1. Request to suspend principal repayment. The borrower can negotiate with the bank and request that only the interest be paid temporarily, without the principal being repaid. Because the bank has the house as collateral, it usually accepts the borrower's offer, and it allows the bank to earn more interest. For the bank, as long as the borrower does not evade the debt viciously, the bank will have no losses.

2. Extend the repayment period. If the previous repayment period was relatively short, you can apply to the bank to extend the repayment period. The bank's maximum loan term is 30 years, so after the opening period, the monthly repayment amount will be reduced, and the borrower will be able to repay it.

3. Borrow money from the bank again. In order to meet the needs of mortgage customers, many banks have launched "financial mortgage loans" to facilitate mortgage customers to borrow their already repaid mortgages. However, the interest rate on the amount borrowed is a little higher than the interest rate on the mortgage.

To prevent risks, generally speaking, the repayment amount accounts for 50% of the income as a reasonable line and 30% as a comfortable line. In addition, it is worth noting that for families with children, the children's living and education expenses account for a large proportion. On this basis, an appropriately low monthly payment should account for the proportion of the family income.

How to repay a mortgage loan early?

1. Go to the bank where you borrowed the loan to make an appointment for repayment. To repay, you need to make an appointment, and the time of each bank and each branch is different. It all depends on the bank, because if there are fewer people, the repayment will be faster, and if there are more people, the repayment will be slower. , the fastest one is to make an appointment on the same day and the repayment can be made the next day, while the slower one may take several months, so if you want to repay the loan in advance, make an appointment first.

2. Prepare your own information. Prepare your loan contract, repayment bank card, and your own ID. It's basically no problem to bring these with you.

3. Bring the money or card you need to repay to the bank and fill out the application form. Deposit the money you need to repay on your bank card, go to the bank and fill out the repayment application form. If the money is transferred from other bank cards to the repayment card, just wait for the bank to deduct the money.

4. Go to the Housing Authority to cancel the mortgage. Because the house bought with a loan is mortgaged, you need to go to the Housing Authority to cancel the mortgage after you repay the money. Some banks will cancel the mortgage, but it usually takes a longer time. If you need to sell the house, it is recommended to cancel it yourself. For mortgage, you need to ask the bank to see whether the bank will cancel it or you can cancel it yourself.