What are the consequences of overdue mortgage?
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 or a credit card and other situations that require the use of 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 make up the mortgage within 7 days, and do not charge late fees; If it is more than 7 days, the late payment fee and penalty interest will be collected 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.
4. Life is affected and travel is restricted.
When personal loans rise to the level of legal proceedings, the situation will become very serious, not only facing the risk of repayment, fines, dishonesty, but also affecting your daily life. For example, if you buy a train ticket, your plane ticket may be rejected and you cannot go abroad. And will be blacklisted. In this era, without credit, it is really difficult to move.