For most friends who buy a house with a loan, they are worried about repaying their mortgage every month. I'm worried. What should I do if I don't repay my mortgage in time one day, or I have no money to repay my mortgage? What are the consequences? I have sorted out the related consequences of mortgage default for everyone, hoping to help everyone! What will happen if the loan is not paid to the bank? First, take the initiative to negotiate with the bank. We all ... want to know more about what to do if the loan is not paid, let's take a look with Hualv. com Xiaobian. For most friends who buy a house with loans, Hualv. com is worried about repaying the mortgage every month. I'm worried. What should I do if I don't repay my mortgage in time one day, or I have no money to repay my mortgage? What are the consequences? I have sorted out the related consequences of mortgage default for everyone, hoping to help everyone! What will happen if the loan is not paid 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 paid. In fact, in this case, we should immediately communicate with the lending institutions to solve it. Whether it is to extend the loan period or reduce the repayment amount per installment, it is a good solution. Second, apply for temporary loans from small loan companies. 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 microfinance companies have launched temporary loan products. For most temporary loan products, the loan term will not be too long, and it will never exceed one year. For applications for temporary loan repayment purposes, it will generally not exceed three months. But it can also solve the urgent need for enterprises that urgently need to repay bank loans. What is the impact on the house slaves? Consequence 1: There will be a penalty interest. If it is overdue for the first time, the bank will inform you and remind you to repay it on time. If you fail to 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 dunning. At the same time, a penalty interest of 3%-5% will be added to the loan interest rate specified in your excuse contract until the principal and interest are repaid. 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 the enrollment of your children. Consequence 3: A bad personal record. Late mortgage repayment will leave a bad record on your credit report, which will be kept for five years. In these five years, it is basically impossible for borrowers to apply for loans from banks. Consequence 4: the house will 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, and after deducting the prepaid lawyer's fees, legal fees, security fees, court enforcement fees, etc., only a pitiful amount of money will finally reach you. Consequence 5: If the assets are insolvent, the bank has the right to recover the debt from you. If the house is still unable to 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 the change of work, you can actively cooperate with the bank in the dunning, and show your situation to the bank, apply for an extension of repayment, and reduce the monthly repayment amount. Method 3: Apply to the bank to suspend the repayment of the principal and only repay the interest, which is generally acceptable to banks. Method 4: If you really have no money to repay the mortgage, you can transfer and sell the house with the consent of the bank, and the proceeds will be returned to the loan, and the new buyers will fulfill their repayment obligations.