What is a mortgage loan?
Mortgage is a way to guarantee things. According to China's Property Law, in order to guarantee the performance of debts, if the debtor or a third party mortgages the property to the creditor without transferring the possession of the property, if the debtor fails to perform the due debts or the parties agree to realize the mortgage right, the creditor has the right to be paid in priority for the property. The debtor or the third party is the mortgagor, the creditor is the mortgagee, and the property providing guarantee is the mortgaged property. Housing mortgage is a way to guarantee housing as mortgaged property.
What should I do if the mortgage credit fails?
1. Bad credit information caused by false information.
There are many reasons for the bad credit report. If the credit information is not serious because of false information, you can directly go to the credit information center of the local central bank to file an objection application. It usually takes 15 working days to get a reply; If the procedures are serious, such as fake loans, you may need to report to the public security organ in addition to negotiating with the bank.
2. Non-malicious credit information such as unpaid annual fees and overdue credit card repayment.
Some people's bad credit information is caused by not understanding the credit card regulations, not paying the annual fee, or the third party's reasons, and the bank's deduction is not timely. In case of this kind of bad credit, in addition to actively paying off the arrears, you need to actively communicate with the bank and explain the reasons. It is best to ask the bank to issue a non-malicious overdue certificate.
3. Lend as appropriate if the overdue period is not serious.
Different banks have different tolerance for overdue. Some are very strict, while others are relatively loose. Generally speaking, you should have a good grasp of the data: you can't be overdue twice in the last three months, three times in the last six months and four times in a year; You can think of it as a red line, which is not beyond the scope of this red line. With considerable income and good repayment ability, banks will lend as appropriate.
And if your overdue is serious, it is beyond the bank's tolerance. I can only suggest that you keep the habit of paying off your debts on time for five years, and the bad credit record will be automatically eliminated.
The above article introduces in detail what mortgage is and what to do if mortgage credit fails. I believe you can help everyone. When making mortgage loans, banks and other financial institutions will also review the credit information of borrowers. If your credit fails, the loan will not be approved.