Housing mortgage loan, you need to mortgage the purchased house to the bank. If the borrower defaults, the bank will collect the loan first. If the borrower still fails to repay the loan as agreed, the bank will sue the court. After the court decides, the bank can dispose of the mortgaged property. Generally speaking, property will be disposed of by auction. The proceeds from the house auction will be used to pay the prosecution fee, auction fee, loan interest and loan principal. If it is still insufficient to deduct all the loan principal and interest, the borrower still needs to repay the remaining loan.
Solutions to the problem of non-repayment of mortgage;
1. Extend the loan term: If the mortgage cannot be repaid on schedule according to the original repayment plan, you can apply to the bank for extending the loan term. After the approval of the bank, a deferred repayment agreement can be signed. Usually, there is only one opportunity to apply for deferred repayment, and the longest delay cannot exceed 30 years.
2. Apply for repayment extension: At present, many banks can apply for mortgage loans. When the borrower is unable to repay the loan, he can temporarily explain the situation to the bank and apply for deferred repayment. The extension time can be decided by the borrower, but there is a maximum time limit, and the extension can usually only be applied once or twice.
3. If you really can't repay the mortgage, you can ask your relatives and friends for help, temporarily solve the dilemma, and try not to default on the mortgage. If the supply is cut off for a long time, the house is likely to be auctioned.
4. If the buyer can't repay the mortgage on time due to unexpected events, he can apply to the loan bank for loan extension 30 days in advance. After verification, the bank will appropriately extend the mortgage term and reduce the monthly payment.
5. Finally, there is a way to sell a house. Find an intermediary company to advance the remaining loan (of course, the intermediary will charge a certain fee), and then entrust the intermediary to sell the house and earn a certain price difference.