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What if the house mortgage is not up?

Time: 2017-05-08         Source: Rong 360 finishing         Author: Nanshan

Buying a house through a home loan, and then repaying it according to regulations for a long time, but due to a lot of uncertainty in the future, it is very likely that the mortgage will be overdue. Then,What if the house mortgage is not up?Let Rong 360 Xiaobian (luxiaodai360) tell you the solution.

1. Application for extension

If it is only temporarily not available, you can negotiate with the lending institution to apply for the extension. Generally, as long as the situation is true, the lending institution is willing to give a certain period of extension.

2. Borrow money from friends and family

If you have a good relationship, you can borrow money from your relatives and friends to repay the loan, but you must make a good loan and agree on the interest. When the situation improves, you can return the debt in time.

3. The collateral is auctioned

If you are unable to repay the loan, you can let the lending institution auction the collateral, and the proceeds will be used to repay the principal and interest of the loan, and the remaining amount will be returned to you.

No matter which way you ease the current economic pressure, remember: repay! Don't use "drag and drop" or simply don't pay back, which makes it easy to bring trouble to yourself.

What are the consequences of real estate mortgages?

Real estate mortgage loans are not serious.

First of all, there will be a penalty interest. If any loan is not repaid on the loan maturity date, the lending institution will collect the penalty interest. The mortgage loan will be the same, and the penalty interest will be charged according to the regulations.

Secondly, it will produce bad repayment records, which will be included in the central bank's credit information system, affecting personal credit, which will make it difficult for borrowers to refinance.

Finally, if the loan is not repaid after multiple calls, the lending institution has the right to auction the mortgaged property, use the proceeds from the auction for repayment, and the remaining amount is returned to the borrower.

    Urgent use of money? We have reviewed hundreds of microfinance products! Pay attention to the WeChat public account "find small money" (ID: luxiaodai360), reply to "emergency money", no longer afraid of borrowing money.

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