What will happen if the mortgage is not on time?
If the mortgage is not repaid on time, it will be notified by the bank, with penalty interest and the record of the last overdue repayment in the credit report. The following are the ways to deal with unpaid loans to banks:
1. If you are in loans overdue in the first month, the bank will inform the buyers. Because some people are dishonest in repayment, it may be caused by business trips, family changes and other reasons.
2. In the second month, if the buyer fails to repay the loan within the time limit, the bank staff will come to the door or go directly to their unit for dunning.
In the third month, if the buyer still can't repay the loan, the bank will send him a letter. At this time, it also marks that the disposal of the buyer's property has entered the judicial process. Once in the judicial process, it also means that the buyer's property will be auctioned.
How much is the penalty interest for one day overdue mortgage?
1, provident fund loan
The penalty interest of the provident fund loan for one day overdue is 150% of the loan interest rate. If the principal and interest of loans overdue is 2,600 yuan and the loan interest rate is 3.25%, then the penalty interest of loans overdue for one day is 2,600 yuan (3.25% 365150%)1= 0.35 yuan.
2. Commercial banks
According to the existing regulations, the penalty interest of commercial banks is generally 130%- 150% of the interest agreed in the contract. Xi Cai Jun gives an example here: If loans overdue's principal and interest are 2,600 yuan and the loan interest rate is 4.9%, then loans overdue's penalty interest is 2,600 yuan (4.9% 3651.30%)1= 0.45 yuan a day.
If the principal and interest of loans overdue is 2,600 yuan and the loan interest rate is 4.9%, the penalty interest of loans overdue is 2,600 yuan (4.9% 365150%)1= 0.52 yuan per day. In other words, in the commercial bank mortgage overdue repayment of 2600 yuan, a day penalty interest of 0.45 yuan to 0.52 yuan.
Everyone must pay attention to the timely repayment of mortgage, otherwise it will affect personal credit records, and it will also leave a record in the bank, which will affect future loans. It's about what happens if the mortgage can't be repaid on time, and how much penalty interest the mortgage is expected to pay one day. For the repayment of mortgage, everyone should pay attention to the bank's regulations.