1. Causing economic losses: buying a house requires a down payment, ranging from hundreds of thousands to millions. If the buyer defaults, the down payment cannot be recovered. In addition, buying a house also needs to pay commissions, taxes and even decoration fees. If the supply is cut off, these expenses can only be wasted. If the buyer has paid the mortgage for several months, then the mortgage that has been paid before can not be recovered after the supply is cut off.

2. The bank has a penalty interest: if the buyer fails to repay the loan on time, he will accept the penalty interest of the bank. The default interest rate of overdue mortgage is generally higher, and the longer the repayment time, the worse it will be for those who have not repaid.

3. Personal credit information is damaged: once the supply is cut off, the bank's personal credit information system will leave a bad record. Suppliers will be blacklisted, and personal credit information will be seriously damaged after personal credit is defiled. If you want to apply for a credit card, fly, take the high-speed rail, etc. In the future, you will be affected. It is basically impossible to get any loan from the bank, and even your own job will be implicated.

4. Low-price auction of the house: if the mortgage is not repaid for more than half a year, the bank will apply to the court for repossession of the house and auction it at a low price (generally the auction price will be lower than the market price 10%-20%). If sued by the bank, the buyer will also bear the liability for breach of contract, repay all the loan principal, interest, penalty interest and compound interest, and bear the announcement fee, case acceptance fee, preservation fee, execution fee, legal fee, evaluation fee and auction fee. If the auction proceeds are not enough to repay the bank loan, the bank has the right to freeze the borrower's bank deposits or even confiscate personal property (such as other real estate or vehicles). ); The bank can also bring a lawsuit to the local court and order the borrower to make up for the losses of the bank through various channels until the supplier pays off all the debts.

5. Impact on social reputation: If the property buyers cut off the supply for two consecutive months, the relevant bank personnel will come to the door or go directly to the company to ask for it. Once the information of supplier's breach of contract is known by his superiors and relatives around him, it will definitely affect his social reputation. I believe no one wants to get along with a person with a serious lack of credit.