1. First, the bank will collect debts from everyone:

After the loan repayment is due, if you cannot repay the mortgage on time, then the bank will definitely have relevant staff to call you through text messages. Banks hope that everyone can take the initiative to repay their mortgage loans on time. This is the best way for both banks and users.

If the user is still unable to actively repay the loan through phone calls, text messages, etc., once the loan is overdue for more than three months, the bank may arrange for personnel to come to collect the debt in person. At this time, the bank's attitude will be relatively different. Be tougher.

2. Auction the house by filing a lawsuit with the court:

If you cut off the payment for a long time and the overdue period exceeds the longest repayment period allowed by the bank, for example, the payment is cut off for more than 6 months If the loan exceeds 1 month, the bank will basically sue everyone to the court, and then auction the house through the court to repay the loan balance.

When the court auctions a house, the price is generally lower than the market price. Under normal circumstances, the foreclosure price is only about 70% to 80% of the market price. After the house is auctioned by the court, the proceeds will be used first to repay the remaining bank loan. If there is any remaining balance after the auction proceeds have repaid the bank loan, it will be returned to the owner.

What to do if you are unable to repay due to financial problems

1. Apply for an extension of loan repayment

Proactively propose an extension to the bank and negotiate with the bank based on your repayment ability New term!

However, this method can only be used once, and the sum of the original loan term plus the extended term cannot exceed 30 years, so if you applied for a 30-year term from the beginning, this method It doesn't apply.

2. Transfer or sell the house

Coordinate the bank and the new buyer to sign a mortgage contract, and the new buyer will continue to repay the bank loan later. Or, with the consent of the bank, the property is sold, and the property sold is used to repay the remaining loan to the bank. Of course, this is a situation where the loan cannot be repaid even after the repayment is deferred.

3. Apply for a financial management mortgage loan

If the bank you are borrowing from offers a "financial management mortgage loan", you can apply to have the mortgage loan that you have paid off be lent to you again. , but the interest rate is quite high, which is also a way to keep the house in desperation.