Will the mortgage be automatically deducted when it is overdue?

Whether the overdue mortgage will be automatically deducted needs to be determined according to the actual situation.

1. If the money is overdue for a day or two, the banking system will basically automatically deduct it. If sufficient funds are not deposited in the repayment account on the repayment date, it may lead to overdue.

2. If the repayment account is overdue for a long time, the banking system will probably not automatically deduct the money.

What will happen to loans overdue?

1. Bank dunning will generate penalty interest.

If there is no one-time repayment, the bank will call or SMS to remind you to repay on time, and there will be penalty interest. If you don't repay the loan for three times in a row, the bank account manager will collect it and will also have a penalty interest. If the overdue number reaches more than 6 times, the bank may freeze your property during this period.

The property was finally auctioned.

If the bank's dunning fails, the bank will auction the mortgaged property through legal procedures. At this time, the disposal of the buyer's property has entered the judicial process, and then the house will be disposed of according to the relevant provisions of the contract terms of both parties, usually by auction. In this case, the economic loss of the buyer is relatively large, because the price of the house recovered or auctioned is often lower than the price when the house was originally purchased. Therefore, after recovery or auction, the buyer's house price may be running low.

How many days can the mortgage be overdue?

1. The bank will make dunning according to the loan amount. Under normal circumstances, if it is overdue for 3 months, it will be prosecuted.

2. According to the relevant provisions of the Contract Law, the borrower fails to repay the loan within the time limit stipulated in the loan contract, which is a breach of contract and should bear the liability for breach of contract. The ways to bear the liability for breach of contract include returning the loan principal, paying the interest during the loan period agreed in the contract and paying the interest of loans overdue.

3. Repaying the loan principal and paying interest within the loan period agreed in the contract will generally not cause disputes because the parties have clearly agreed in the loan contract; There is a great dispute between the parties about the interest on overdue loans, and the standards applied by judges in hearing such cases are not uniform, which affects the authority of the law.