After lending to the bank, it is basically repaid on a monthly basis. Generally speaking, you can choose your own repayment time, 15 to 30 years. Many people have questions. If I don't pay the mortgage and the house is taken away by the bank, what about the down payment?
What if he doesn't sell it himself? After the bank knows his financial situation, it is likely to ask him to repay in advance, or apply for freezing his house through the court. Then, the court auctions, and the auction price is generally much lower than the market price.
Xiaolin bought a house on 20 12, and the name of both husband and wife was reflected in the house purchase contract. A year after buying a house, Kobayashi also encountered contraband because of major changes at home, leaving the whole family in debt. In the most painful time, even the children's milk powder money can't be obtained. Of course, the confession will be cut off.
However, when your house is out of supply for more than 6 months, the bank may take you to court, and special treatment can be made through court auction. In this case, the house can be sold.
Choosing a mortgage default in China actually does great harm to property buyers, because they can't get back the house payment, have no house and have problems with their personal credit information. Property buyers choose to cut off their supply, which will bring serious adverse consequences to themselves.
Therefore, you must know your repayment ability before buying a house. If you don't repay the mortgage for a long time, the consequences are: First, your house will be repossessed by the bank and sealed up by the court. Second, there is something wrong with your credit information. If you want to buy a house in the future, it is absolutely impossible to borrow money from the bank or do business.