Under normal circumstances, the automatic deduction of mortgage is twice a day. The system will make the first automatic deduction before the business starts on the morning of the loan account repayment date, and the second automatic deduction after the business ends.
The impact of loans overdue's repayment is 1, resulting in penalty interest. Each bank has different regulations on mortgage, but if the buyer is overdue, the lending institution will call to collect the loan first to remind the buyer to repay the loan in time, and the interest rate will also rise, which is a daily penalty. 2. Personal credit information is damaged. If the mortgage is overdue, the buyer's credit information will definitely be damaged. The bank will see the credit information of the lender. If it is a strict bank, even if it is only one day overdue, the bank will enter the overdue information into the central bank's credit information system. If the overdue repayment record enters the credit information system, it will have a serious impact on the buyer's application for credit card or loan in the future. Even if you can get a loan, the loan amount will be greatly reduced. 3. After the mortgage of loans overdue, the bank will urge the buyers to accept overdue loans according to law. If the buyer can't make up the loan, according to the loan contract and guarantee contract (mortgage or pledge contract), the bank will sue the court, and the court will take measures such as property preservation, including freezing the deposits in all bank accounts of the lender and loan guarantor and sealing up the pledged property. This situation is very serious, and the adverse consequences are also very direct. After the court's decision, the property auction will be enforced to repay the losses of the bank. 4. Real estate auction, when the buyer applies for mortgage, he mortgages the house he bought to the bank. If the repayment is overdue, the bank will auction and sell the secured property in public. The proceeds from the auction will first be used to repay the remaining loans that the lender has not returned to the bank. If there is any balance, the balance will be returned to the lender.