Is it true that the mortgage is overdue for two years and only pays the principal?
Usually, if the lender's mortgage is overdue for a long time, the bank will bring a lawsuit to the court, and the house purchased by the debtor may be repossessed, depending on the court's trial results.
And some people's mortgages are overdue for more than two years, but the bank says they can only repay the principal. Although this situation is not common, it may be true.
I. Non-malicious overdue
Banking institutions require the proportion of bad debts to be controlled within a range every year. In order to reduce the non-performing loan ratio, banks will recover the loan principal as much as possible through certain concessions and concessions to minimize their losses.
Sometimes, loans overdue is not the debtor's own will, and it may be because of bankruptcy, unemployment, serious illness and other factors that make the debtor lose his financial resources. In the case of losing financial resources, the overdue loan he owed was helpless.
The debtor can find the bank to provide proof of financial difficulties at the first time and negotiate with the bank to stop paying interest. , and only return the principal, does not affect the basic life of the debtor.
Second, it may be routine.
When hearing that only the principal can be returned, the debtor should pay attention to whether the bank agency or the collection agency proposed this solution.
In order to improve performance and get commission, some institutions may use the saying that "only the principal can be repaid" to set a routine for debtors. The purpose is to recover a debt first, induce the debtor to repay the principal first, and then use various routines to force the debtor to repay the interest and penalty interest.
The above is the relevant answer to the question of "mortgage overdue for two years", and I hope it will help everyone!