Consequences of overdue mortgage
1, resulting in penalty interest.
Usually, when the loan is not paid in full on the interest payment date, the bank will temporarily list it as a collection note and call the borrower to remind him to repay it within 7 days. Make up the loan within 7 days, and the bank will not charge any late fees. However, if the payment is overdue for more than 7 days, the bank will classify the loan as "collection" and "deferred payment", and then you must pay the late payment fee or penalty interest. The penalty interest of each lending institution is different. For example, Citibank's penalty interest rate is 50% higher than the original interest rate.
2. Pull into the blacklist and record it in the bad credit file.
The name of the lender will appear in the internal system of the bank the day after the deadline, and the credit report will inevitably leave a bad record. If you haven't paid your bill for more than three months, it's very serious. Borrowers will be recorded with bad credit records in the joint credit center, commonly known as the "blacklist", which may be retained for more than 3 years.
3, affect future loans and credit cards.
As long as you enter the blacklist, mortgages and car loans will be affected. Penalty interest is only a loss of money, and a bad credit record is a loss of intangible assets, and its influence cannot be compensated by money.
4. You can't enjoy preferential loans.
For mortgage loans, if there are many overdue repayment records in the past loan records, even if they are not blacklisted, they may not be able to obtain the preferential interest rate of bank mortgage smoothly, or even be refused a new mortgage, except for the penalty interest for overdue repayment.
5, can't fly, high-speed rail, drive a car, and children can't go to aristocratic schools.
For those who refuse to implement the court's judgment or ruling, once blacklisted, they will not be able to fly, the children of high-speed rail will not be able to go to high-consumption schools, and they will not be able to serve as the legal representative of the new company; There will be more punishments in the future, so it can be said that life is hard.
6. It may affect a person's career.
For students whose loans are overdue for more than 90 days in a row, banks or schools can publish their names, photos, ID numbers and overdue information in the media, or inform their work units, and banks will also sue.
7. Be sued by the bank and executed by the court.
If a lawsuit is filed, the court will take property preservation measures according to the creditor's application, freeze the deposits of the lender and the loan guarantor, and seal up the corresponding real estate, vehicles and other property. After the judgment, it will be enforced according to law.
8. Those with serious circumstances will be punished by law until they are sentenced.
If he has the ability to refuse to implement the effective legal documents, the person subjected to execution will be subject to legal sanctions, including judicial detention, until he assumes criminal responsibility.