What impact will overdue mortgage have?
1, the credit information is damaged, and the loan is difficult.
Loan is a loan relationship between the buyer and the bank. Once the buyer's mortgage is overdue, the bank's repayment record will show the corresponding loans overdue record. In the bank's credit information system, the lender's dishonesty will be recorded online, and it will be extremely difficult for the lender to apply for a loan again or a credit card and other situations that need to use personal credit. Need to remind everyone that even if the mortgage is overdue, personal credit stains will still be recorded in the bank credit information system for up to five years.
2. Pay penalty interest and overdue fine.
In any case, the money owed to others will be paid back after all. In addition to the basic loan, the overdue person has to pay the penalty interest and late payment fee generated by the overdue mortgage. Regarding the specific amount and proportion of penalty interest and late payment fee, banks are slightly different. Basically, the mortgage will be paid within 7 days, and no late fees will be charged. For more than 7 days, the late payment fee and penalty interest will be levied together.
3. After being sued by the bank, it is still necessary to repay the remaining loans.
When buying a house, the buyer will sign a house loan contract with the bank. In the contract, the bank will generally stipulate that the lender will bear the corresponding liability for breach of contract if it fails to repay the loan for three consecutive times or six times in total, including repaying all the loan principal and interest in one lump sum. If the remaining loan is not paid back for more than three months, the bank will bring a lawsuit to the court to force the lender to repay the principal and interest, as well as the litigation costs and other extra expenses arising therefrom.
What should I do after being sued for overdue mortgage?
1. As long as the bank's arrears are settled before the court accepts it, the bank will naturally withdraw the lawsuit.
2. If you can't pay off the arrears for the time being, you can contact the bank to negotiate the repayment before the court accepts it. It is best to provide the corresponding proof materials during the negotiation. For example, the proof of the termination of the labor contract. First, make it clear that the individual is unable to repay the loan at present, indicating that he did not intentionally fail to repay the loan within the time limit, then express his sincere willingness to repay, and then try to apply for an extension of the repayment period and repay the arrears in installments. If the bank finally agrees, it will naturally withdraw the lawsuit and then discuss the new repayment plan with the customer.
In addition, customers can try to borrow money from their family and friends to pay off their debts. Pay off the mortgage debt first, and then return the money to relatives and friends.
4. If there is really no way or the bank can't hear it, it is necessary to prepare relevant evidence (such as unemployment and family changes). ), show its high integrity in front of the judge, not maliciously owe money, and have the ability to repay from the time of prosecution. In this way, the court may also make a reasonable ruling.