When buying a house, if the house you buy is still mortgaged, you need to decompress the house before the transfer, otherwise you can't go through the transfer procedures. Different banks have different time and processes to decompress, so before buying a house, everyone should know about it first. Don't wait until everything is done to find that you have to wait for the house to decompress. How long will it take to decompress the house? What are the procedures for releasing a house?

How long does it take to decompress the house?

After the house loan is settled, it takes about 7 days to decompress the house. If it is private lending, it is shorter than the bank. After applying for decompression, the decompressor can successfully decompress on the same day as long as there are staff in the Housing Authority to assist in the relevant procedures.

What are the procedures for mortgage cancellation?

1. First, the lender should settle the loan. After the lender settles the loan, he will bring the loan settlement notice issued by the bank to the provident fund center to issue the mortgage cancellation notice.

2. Then obtain other warrants, and the borrower will go to the provident fund center with his valid ID card and mortgage cancellation procedures to receive other warrants and mortgage cancellation notices.

3. Finally, we have to go through the formalities of understanding the mortgage. The borrower needs to bring his valid ID card, his right certificate, real estate license, repayment certificate and other materials to the original mortgage registration department to handle the mortgage cancellation procedures.

4. Pay attention to get back the real estate license in time after the mortgage is lifted. Some homeowners with mortgage loans have already obtained the real estate license, and they still need to go to the Housing Authority with the real estate license to handle the mortgage cancellation procedures. In addition, if the borrower repays the loan in advance, he can also refund part of the insurance premium to the insurance company, because the insurance premium is generally paid when handling the mortgage loan, and the insurance payment period is the same as the loan period.