Family debt refers to the sum of family borrowing funds, including personal debts of family members, bank loans and bills payable related to the family. Mortgage refers to the form of borrowing from banks or other financial institutions for the purchase or construction of houses. This is a common form of family debt, which is used to meet the housing needs of families. In addition to mortgage, there are other forms of family debt, such as car loans, education loans and other bank loans, which all belong to the category of family debt. These liabilities are the economic responsibility of the family and need to be repaid according to the agreed repayment plan.