If the borrower fails to repay the loan principal and interest on time for the first time, the loan bank will inform him by phone or text message that he needs to repay the loan on time, and at the same time charge a penalty interest; If the loan is not repaid for more than three times in a row, the bank account manager will call the borrower directly or make a door-to-door dunning, and the bank accountant will also charge a penalty interest; If the repayment is not made for more than six consecutive times, the bank will safeguard its rights and interests through legal means. At that time, the bank's lawyer will call the borrower and tell him the consequences of not repaying in full and on time. During this period, your mortgaged property will be frozen. If the borrower fails to repay the loan after negotiation, the bank will auction the property, and if there is a guarantor, it will bear joint and several liabilities.

No matter how many times the borrower fails to repay the loan, its overdue record will be recorded in the personal credit information system of the central bank, which will affect the handling of credit business such as mortgage and car loan in the future. If the loan is paid off at that time, the bad credit record will be retained for five years.

If the borrower does encounter cash flow difficulties, he can borrow money from relatives and friends around him to repay the principal and interest of the current loan, or negotiate with the bank to apply for an extension. However, there is a certain time limit for applying for extension. Therefore, it is most appropriate for borrowers to make repayment plans in advance before applying for loans.