What will happen if the loan is not repaid to the bank?
First, take the initiative to negotiate with the bank. As we all know, escape is not the solution to the problem. Many loan applicants are at a loss when the loan is not repaid. In fact, in this case, you should immediately communicate with the lending institution to solve it. Whether it is to extend the loan term or reduce the repayment amount of each installment, it is a good solution.
Second, apply for a temporary loan from a small loan company. At present, loan applicants will apply for loans from banks first, and microfinance companies have small customer groups and low quality. In order to expand their business, many small loan companies have launched temporary loan products. For most temporary loan products, the loan period will not be too long, and it will definitely not exceed one year. For the purpose of temporary loan repayment, the application will generally not exceed three months. But it can also solve the urgent need for enterprises that urgently need to repay bank loans.
What's the impact on house slaves?
Consequence 1: Will there be a penalty interest?
If it is the first time overdue, the bank will inform you to repay the loan on time. If you don't repay the loan for three times in a row, the bank will start to urge you to repay the loan on time, or even make a door-to-door reminder. At the same time, pay a penalty of 30%-50% of the loan interest rate stipulated in your IOU contract until the principal and interest are paid off. ?
Consequence 2: affect normal life consumption?
Once the mortgage is sued by the bank, the borrower is likely to be blacklisted, which will seriously affect your future life and travel, and even affect your children's enrollment. ?
Consequence 3: Have a bad personal record?
If the mortgage is overdue, it will leave a bad record on your credit report and keep it for five years. In these five years, it is basically impossible for borrowers to apply for loans from banks. ?
Consequence 4: Will the house be auctioned by the bank at a low price?
If you really have no money to repay the loan, the bank has the right to auction your house, and the auction price is much lower than the original purchase price. If someone buys your house, the bank will deduct the principal and interest of the mortgage, after deducting the prepaid lawyer's fees, legal fees, preservation fees and court enforcement fees. Only very little money will eventually reach you. ?
Consequence 5: Insolvency, the bank has the right to recover debts from you?
If the house can't repay the principal and interest of the bank loan after the auction, the bank has the right to recover the debt from you, and you can't buy any real estate until the principal and interest owed to the bank are paid off. ?
Method 1: If you just have no money to repay the loan temporarily, you can consider borrowing money from friends and relatives to repay the loan. ?
Method 2: If there is no financial source to repay the loan for a period of time due to job changes, you can actively cooperate with the bank to make a dunning, and explain your situation to the bank, and apply for deferred repayment to reduce the monthly repayment amount. ?
Method 3: Apply to the bank to suspend the repayment of the principal and only pay interest, which is acceptable to the general bank. ?
Method 4: If there is really no money to repay the mortgage, the house can be transferred and sold with the consent of the bank, and the proceeds will be returned to the loan, and the new buyers will fulfill their repayment obligations. ?
(The above answers were published on 20 17-03-3 1. Please refer to the current actual purchase policy. )
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