1. Personal credit information is damaged, which will affect the handling of various loans in the future.
Once the mortgage is overdue, the lender will see your overdue repayment record. If it is a strict bank, even if you are only one day overdue, the bank will enter the overdue information into the central bank's credit information system. Once the overdue records enter the credit information system, it will have a serious impact on users' application for credit cards or loans in the future. Even if they can get loans, the loan amount will be greatly reduced.
2. Generate corresponding penalty interest and overdue fine.
No matter what the reason, as long as your mortgage is overdue, the bank will call to remind the borrower to repay, and as long as the repayment is overdue, there will be a penalty interest. The penalty interest of different loan banks is different, which is basically 30%-50% higher than the original loan interest rate.
3. Be sued by the bank
Banks will set default clauses in mortgage contracts. If the loan is overdue for three consecutive times or six times in total, the borrower is required to repay all the principal and interest of the loan in one lump sum.
If the user's mortgage has not been repaid for more than 3 months, the bank will bring a lawsuit to the court according to the loan contract and guarantee contract. The court will take measures such as property preservation, freeze deposits in all bank accounts of lenders and guarantors, and seal up pledged property.
How to protect rights when the house you bought is not completed;
1, the developer's late delivery is a breach of contract, and the buyer can claim liquidated damages from the developer according to the contract. In the purchase contract, it is generally agreed that the developer will be liable for breach of contract for overdue delivery. If the developer fails to deliver the house for a short time, then the buyer can claim liquidated damages for the developer on a daily basis according to the overdue time.
2. If the developer fails to deliver the house within a certain period of time, or fails to deliver the house within three months after being urged by the buyer, then the buyer can claim to the developer to cancel the house purchase contract, and the developer will refund the money and compensate for the losses. However, if the developer is on the verge of bankruptcy, it is generally not recommended to terminate the contract directly, because once the contract is terminated, the developer is unable to repay the house payment at this time, and the buyers are likely to face the situation that the house and property are gone.
If the purchased house is not completed, it will not have adverse effects if the owner and the bank negotiate to stop lending or the court stops lending. If the loan is stopped privately, it will constitute a debt default, and it will bear the responsibility for breach of contract, and it will affect personal credit information.