If the mortgage fails, the bank has the right to take back the house. If the mortgage is repaid by auction, the down payment will be paid in vain. Not only that, but even the agency fee, real estate transaction tax and decoration fee were paid in vain. If the mortgage of a home buyer is overdue for one year, the overdue record will be registered in the records of the banking system, and even appear in the record of dishonesty in the bank credit information system. If you want to apply for a loan again, it will become very difficult because of lack of credit. If loans overdue's problems and the level of legal proceedings, the situation will become more serious. If it is not handled properly, it will face risks such as fines and dishonesty. And credit problems will be implicated, even train tickets and plane tickets will not be available, and they will be blacklisted.
Solutions to the problem of non-repayment of mortgage;
1. Extend the loan term: If the mortgage cannot be repaid on schedule according to the original repayment plan, you can apply to the bank for extending the loan term. After the approval of the bank, a deferred repayment agreement can be signed. Usually, there is only one opportunity to apply for deferred repayment, and the longest delay cannot exceed 30 years.
2. Apply for repayment extension: At present, many banks can apply for mortgage loans. When the borrower is unable to repay the loan, he can temporarily explain the situation to the bank and apply for deferred repayment. The extension time can be decided by the borrower, but there is a maximum time limit, and the extension can usually only be applied once or twice.
3. If you really can't repay the mortgage, you can ask your relatives and friends for help, temporarily solve the dilemma, and try not to default on the mortgage. If the supply is cut off for a long time, the house is likely to be auctioned.
4. If the buyer can't repay the mortgage on time due to unexpected events, he can apply to the loan bank for loan extension 30 days in advance. After verification, the bank will appropriately extend the mortgage term and reduce the monthly payment.
5. Finally, there is a way to sell a house. Find an intermediary company to advance the remaining loan (of course, the intermediary will charge a certain fee), and then entrust the intermediary to sell the house and earn a certain price difference.
legal ground
Article 244 of the Civil Procedure Law
If the person subjected to execution fails to perform the obligations specified in the legal documents according to the notice of execution, the people's court has the right to seal up, detain, freeze, auction or sell off the property that the person subjected to execution should perform. However, the necessities of life of the person subjected to execution and his dependents shall be retained. The people's court shall make a ruling on taking the measures mentioned in the preceding paragraph.