Mortgage repayment is a savings card, and the main function of mortgage card is as a special account, usually a savings card, which is convenient for banks to deduct monthly mortgage payments. The borrower needs to transfer enough money into the mortgage card before the repayment date of each month, and the bank will automatically deduct the repayment amount on the repayment date.

There are several ways to repay the mortgage

There are two main ways to repay the house loan, namely, the repayment method of equal principal and the repayment method of equal principal and interest.

(1) repayment method of equal principal and interest. The characteristic of this repayment method is that the monthly payment that needs to be repaid remains unchanged, but the proportion of principal in the monthly payment will gradually increase.

(2) repayment method of equal principal. The characteristic of this repayment method is that the principal to be repaid every month remains unchanged, but the monthly payment will gradually decrease.

In addition to different repayment methods, people who borrow money to buy a house should be clear about how to deal with housing loans in the face of unexpected situations.

(1) After the house collapses unexpectedly, the borrower still has to pay back the mortgage.

if the property purchased by the loan collapses due to earthquake and other reasons, the borrower still needs to continue to repay the house purchase loan. You can't refuse to repay the loan on the grounds that the house collapsed. This is mainly because the housing loan that everyone said is actually a mortgage loan. With the house to be purchased as collateral, everyone borrowed a loan from the bank to pay for the house purchase. In other words, the absence of the house means that the collateral is gone, but the loan relationship between the borrower and the bank still exists. Therefore, we can't refuse to repay the house loan on the grounds that the property is gone.

(2) The mortgage was not repaid and the borrower died.

In this case, the property purchased by the borrower will be regarded as an inheritance, and it will be handled according to the relevant provisions of the Inheritance Law. The heir first needs to use the borrower's estate to pay off the borrower's debts before his life. Therefore, the heirs need to pay off the outstanding housing loan.

However, according to the law, the debts that must be paid off cannot exceed the actual value of the estate. After all, the current law does not recognize the previous "father's debt and son's repayment". However, if the heirs voluntarily repay the debts that exceed the value of the estate, the law will not prohibit such repayment.