Should the house be destroyed by the earthquake or washed away by the flood?

1. Should the house be destroyed by the earthquake or washed away by the flood?

Recently, there was a flood in Du Nan, China, which even exceeded the warning line. Houses in many places were washed away under the impact of the flood.

Then, if the house with the mortgage loan is destroyed by the flood, should the mortgage be repaid?

In view of the relationship between house and mortgage, many people confuse house and mortgage, which is incorrect. In fact, the house and the mortgage are not integrated, and the house is only the mortgage guarantee of the mortgage.

The house is the relationship between everyone and the developer, and to handle the relationship well, everyone goes to the bank to apply for a mortgage, which is equivalent to borrowing a sum of money from the bank and then using the money to buy the developer's real estate.

Therefore, two contracts were signed, one is a real estate sales contract, and the other is a real estate mortgage contract. The real estate sales contract was signed with the developer, and the real estate mortgage contract was signed with the bank.

It can be seen that there is no necessary connection between bank mortgage and house, which means that no matter what happens to the property, it will not affect the existence of bank mortgage.

Even if everyone's house collapses because of some special floods, it will not affect the mortgage of bank mortgages.

After all, the real estate belongs to everyone, not the bank, but the creditor's rights belong to the bank. However, in case of natural disasters, a transition period is usually given. For example, everyone is allowed to postpone repayment for half a year or one year, and there is no penalty interest, which is not included in the credit history.

However, after the bank's extension expires, it will affect its own credit report and will also generate penalty interest.

Only if everyone has purchased mortgage insurance when buying a house, the insurance company will bear certain liability for compensation. After the insurance company pays, the remaining amount will be repaid by the individual himself.

Of course, if there is, it is another matter.

If a major natural disaster, such as an earthquake or other major natural disasters, causes many houses to collapse, then local governments will come out to deal with bank loans in a unified way and take special measures.

For example, after the Wenchuan earthquake, the People's Bank of China, the China Banking Regulatory Commission and the China Insurance Regulatory Commission jointly issued the Opinions on Financial Support and Service Measures for Post-Wenchuan Earthquake Reconstruction.

According to the opinion requirements, all kinds of loans that have been issued before the disaster and cannot be repaid on time after the disaster can be postponed for 6 months. Before the deferred repayment period comes, it is impossible for banks not to receive penalty interest, and it will not be regarded as a bad credit record.

On May 23, 2008, the Emergency Notice on Doing a Good Job in the Write-off of Wenchuan Earthquake Loans clearly required that the debts that borrowers suffered huge losses due to the earthquake and could not be repaid by insurance should be recognized as bad debts and written off in time, and the debt losses caused by the earthquake should be written off.

It can be seen that how to deal with the mortgage of houses collapsed due to natural disasters depends on the scope of this matter. If the impact is relatively large and the impact is relatively small, at most, the government will give some subsidies, and then the debtor will continue to repay.

The house was destroyed by the earthquake or washed away by the flood. Do you need to pay the mortgage? Of course, this is to be returned, and you may be asked to pay first and then not. Why?

First, a mortgage contract is also a guarantee contract. You use your house as a guarantee and get a loan to pay the seller or real estate developer instead of repaying the loan to you. When the collateral is lost or the value is not enough to repay the debts due, the bank may require the borrower to pay the remaining amount or provide a new collateral guarantee.

Second, natural disasters such as floods and earthquakes are unpredictable, and generally no insurance company will cover them. So the house was destroyed by the earthquake or washed away by the flood, and only the owner would bear all the losses. This is the same in any country, so after several earthquakes and tsunamis in Japan, there are many low-rise buildings, because the repair and reconstruction of low-rise buildings are low-cost and fast.

Third, the bank's money also comes from borrowing from the central bank, borrowing from peers and absorbing public deposits. They can't help but accept your losses, because then they can't repay depositors and other debts due, and they will go bankrupt. Financial markets are so cruel. Look at p2p, crude oil and some bonds and funds, causing many people to lose money or even go bankrupt.

The damage of the house due to natural disasters such as earthquake and flood does not exempt the lender from the repayment responsibility, but may increase the burden on the lender.

In mortgage to buy a house, there were different legal relationships among property buyers, developers and banks. The contract between the buyer and the developer is a commercial housing sales contract, which belongs to the sales contract relationship. This contractual relationship is marked by the completion of the contract with the delivery of the house and the settlement of the house payment. The mortgage loan contract signed by the buyer and the bank belongs to the loan contract relationship, and the developer only signed it as the initial limited guarantor.

After the house is delivered, the risk of damage or loss shall be borne by the buyer. According to the Contract Law and relevant judicial interpretations in the Supreme People's Court, once the house is delivered, the risk of damage or loss of the house shall be borne by the buyer from the date of delivery.

The delivery mentioned here includes actual delivery and deemed delivery. There are three situations:

First, the developer actually delivered the house to the buyer according to the contract, and the date of check-in was the delivery date.

Second, the developer notifies the buyer in writing to close the house according to the delivery date agreed in the contract. If the buyer refuses to accept the house without justifiable reasons, it shall be regarded as the delivery of the house, and the time limit for receiving the house in written notice shall be regarded as the delivery date.

Third, if the buyer actually occupies the house, the date of actual possession shall be regarded as the date of delivery.

Therefore, once the house is delivered, the damage and loss of the house has nothing to do with the developer.

The damage and loss of the house will not lead to the termination of the loan relationship. After the buyer signs a loan contract with the loan bank, the loan bank advances all the balance of the house payment to the developer on behalf of the buyer according to the contract, that is, it has fulfilled its contractual obligations.

As the initial guarantor of the loan contract, the developer undertakes the responsibility of ensuring the buyer to repay the loan on time before the registration of the real estate. Once the registration of real estate is completed, the form of guarantee will be changed from the developer's guarantee responsibility to the mortgage guarantee, and the mortgage registration procedures need to be handled. At this point, the developer's contractual obligations in the loan contract have been fulfilled. What is left is a simple loan relationship between the buyer and the bank, and the lender has to fulfill the repayment obligation until it is fully paid off.

The obligation of repayment shall not be eliminated by the damage or loss of the collateral. On the contrary, the bank may require the lender to supplement other collateral with corresponding equivalent value to maintain the original risk level. If the buyer fails to replenish the equivalent collateral in time, or fails to repay the loan on time, it needs to bear the corresponding liability for breach of contract.

Recently, heavy rainfall occurred in some southern provinces of China, and floods occurred in several cities. The flood scale in some places exceeds 1998. Houses in many cities were washed away under the impact of floods. So, some local netizens asked, if the house where I applied for a mortgage loan was washed away by the flood, should I repay the mortgage?

In this regard, we think that we should not mix the house with the mortgage. When we buy a house, we will sign two contracts, one is a real estate sales contract, which is a contract signed with the developer; The other is the real estate mortgage loan contract, which is a mortgage contract signed with the bank with real estate as collateral. It can be seen that the bank mortgage has nothing to do with the house, which means that no matter what happens to the property, it will not affect the buyers to repay the bank mortgage. If a natural disaster of force majeure really happens, the bank will give the buyers a transition period and allow them to postpone the repayment. There will be no penalty interest in the deferred repayment and it will not be included in the credit record. However, after the extension, if there is still no normal repayment, it will affect your credit report and will also generate penalty interest.

As a matter of fact, property buyers use the property as a mortgage loan to the bank. Even if the house is destroyed by the flood, the mortgage will still be paid back by the buyers, because the developer who bought your house and the bank who lent you the loan will only lend you the loan because there is real estate as collateral. Therefore, when the collateral is lost or the value is not enough to repay the due debt, the bank can not only avoid the buyer's mortgage, but also ask the borrower to pay the remaining money or ask for new collateral as a guarantee.

In addition, if property buyers have purchased mortgage insurance when buying a house, then the insurance company will bear certain liability for compensation. After the insurance company makes compensation, the remaining amount will be repaid by the individual himself. Property buyers generally do not buy mortgage insurance, and few insurance companies are willing to underwrite this kind of insurance, so the house is damaged by the earthquake or washed away by the flood, and all the losses are only borne by the owners themselves. This situation is similar in all countries of the world. Japan has experienced several earthquakes and tsunamis, so they can only choose low-rise and simple houses, because low-rise houses can be repaired quickly and the reconstruction cost is low.

What's more worth mentioning is that mortgage loans lent by banks to property buyers also come from public deposits or inter-bank loans, but financing means costs. They can't charge you a mortgage because your house is damaged, because then they will not be able to repay depositors and other debts due, and they will eventually choose to go bankrupt. The financial market is so cruel that financial institutions will only keep the profits for themselves and the risks for buyers whose property has been damaged by disasters.

Of course, if a major natural disaster, such as a major earthquake or other major natural disasters, causes many houses to be damaged and the local people are collectively unable to repay the loan, then the local government will handle the bank's mortgage in a unified way and adopt a special way. For example, after the Wenchuan earthquake, the People's Bank of China, the China Banking Regulatory Commission and the China Insurance Regulatory Commission jointly issued the Opinions on Financial Support and Service Measures for Post-Wenchuan Earthquake Reconstruction. According to the opinion requirements, all kinds of loans that have been issued before the disaster and cannot be repaid on time after the disaster can be postponed for 6 months. Before the repayment period comes, the bank can't charge no penalty interest, which is not a bad credit record.

In fact, the house damaged by natural disasters, buyers' mortgages still have to be returned as scheduled, and banks can't bear the losses of mortgages. If a particularly serious disaster occurs, the house collapses and the lender is unable to repay the loan, the bank will only allow the mortgage to be postponed at most. Unless the government department announces unified write-off, this possibility is relatively small. The reason why banks can't exempt buyers from mortgage loans is that banks also borrow money from depositors and peers. If the buyers forgive the mortgage debt, the bank will go bankrupt, so the risk of house damage can only be borne by the buyers.

Floods or earthquakes, property losses, should we continue to repay the mortgage? The answer is that it must continue to be returned. The loss of real estate caused by force majeure of various natural disasters is not the "fault" responsibility of the bank itself, but the "risk" of the lender itself has nothing to do with the bank. Therefore, the lender needs to continue to repay the loan balance until the loan contract is fulfilled.

As a "contract", it is a kind of contractual relationship in itself, that is, both parties cooperate to bear the "contractual responsibility" and get the "benefits of the subject matter of the contract" because of the "contractual responsibility"-that is, the lender always owns the real estate as collateral to obtain the loan money from the bank. Unless there is a special clause in the loan contract that "the lender terminates the repayment obligation after the property is lost due to force majeure", the repayment obligation will not be terminated-in fact, no bank will accept this special clause.

For example, in the Wenchuan earthquake, due to the complete destruction of the lender's property or even the lender's death, the legal relationship as a "contract" will not change, that is, as long as the lender has an heir-whether or not there are inheritable assets, his successor will continue to perform the repayment obligation.

Of course, the objective fact of many natural disasters is that the lender's mortgaged property is lost or even the lender's family dies, which makes it impossible for the bank to continue to execute the loan contract-there is no executable property and no legal heir to trace it back. This led to the collective "loss of accounts" of banks, and regularly applied to the CBRC for "write off non-performing assets and bad debts". In other words, in the absence of any executable property or even traceable heirs, banks can only "write off" loans that have lost real estate due to natural disasters, and finally "write off".

As a contractual relationship, its legal effect will not change due to force majeure such as natural disasters. However, judging from the results of the Wenchuan earthquake, the state requires insurance to make claims and pay related losses, and the state gives "write-off" related loan losses.

Unlike the force majeure clauses in normal contracts, normal commercial contracts are usually concluded by Party A (Party B is generally passive or unfamiliar with contract law). For example, due to the earthquake, Japanese companies collapsed their factories and could not continue to fulfill their supply responsibilities in commercial sales contracts. If there is a force majeure clause in the contract, the Japanese enterprise will declare the force majeure clause effective and terminate it. However, if the "force majeure clause" is not specified in the contract, Japan can also declare "force majeure" as the loss of all production capacity or inability to continue to perform supply responsibilities in the short to medium term, resulting in the termination of the contract. As the buyer of the sales contract, it is generally believed that the "force majeure" factor will not hold the other party liable for breach of contract, which is both humanitarian and normal commercial principle. For example, in the event of an earthquake or an international COVID-19 epidemic, many enterprises will announce that "Force Majeure Clause" will be triggered or take effect. After consultation, the contract shall be terminated or continued to be performed when the conditions are met.

From the buyer's point of view, once you have completed the "property right purchase" and concluded a loan contract, the property right will be transferred from the developer to the buyer. As the holder of the property, you will bear all the risks that may occur when holding the property, including the loss or damage of the property, unless you and the developer have a clear agreement on the maintenance or after-sales terms of the damaged house, such as the specific maintenance and reconstruction of the developer.

To sum up, the damage or loss of real estate caused by floods or earthquakes is the risk of the buyers themselves, not the "contractual negligence responsibility" of the banks. Therefore, the loan contract of the bank will not be terminated because of the damage or loss of real estate caused by "floods and earthquakes"-unless the state gives subsidies or bears the losses as a whole.

Don't say that the house was destroyed by the earthquake, even if your house was robbed by aliens, you still have to pay the mortgage.

Mortgage, just look at this term, there will be an illusion that this loan is accompanied by the house. In fact, the full name of mortgage is house mortgage. As the collateral of the loan, the house is equivalent to the guarantee of your loan, and its essence is a loan contract. The reason why the interest rate of mortgage is lower than that of general credit loans is also because of the guarantee of this house. When you can't repay the loan as agreed, the bank can auction the house and recover the loan, thus reducing the risk of the bank.

However, the house is just a collateral. Whether there is this collateral or not, the loan relationship between you and the bank exists. Even when your house is destroyed by earthquake or flood, because there is no collateral, there is no collateral that could have reduced the risk of the bank. If the bank knows this situation, in order to reduce the risk, it may ask you to provide other collateral, or even ask you to settle the loan in advance.

So, don't be naive!

Generally speaking, it needs to be returned. For a simple example, you bought an iphone 1 1 with a credit card and it was stolen just one month later. But can you tell the bank that you don't have to pay back the rest of the loan because you lost your mobile phone? Obviously not, nor can the mortgage. I borrowed money from the bank to buy a house. The house was damaged by natural disasters, and the mortgage had to be paid back.

Here's another question. Will there be compensation for damage to houses caused by natural disasters? Let me talk about it in detail.

1, due to natural disasters, the house collapsed, still use the mortgage? The contract law stipulates that the relationship between the lender and the bank is a debt relationship and will not disappear because of the loss of the collateral (house). That is to say, because of the earthquake, flood and other reasons, the house is gone, only the collateral is damaged, but the bond relationship between the debtor and the bank still exists, and the borrower is obliged to pay off the remaining outstanding loans on a monthly basis.

However, there is a special situation in which houses are damaged by natural disasters. If the borrower is unfortunately killed, it needs to be repaid by his heirs. If there is no heir, there is no need to repay.

2. Will the house be compensated if it is damaged? Under normal circumstances, if the house is damaged, the owner of the house can only bear the losses caused by the damage without buying any insurance. However, from the perspective of government assistance, the government usually gives some compensation to the affected people, especially for major natural disasters such as the Wenchuan earthquake, so that the affected people can be properly resettled and rebuild their homes.

During the Wenchuan earthquake in 2008, the Board of Supervisors of the People's Bank of China and the Bank of China required borrowers not to collect or default interest or record bad debts, treat borrowers as bad debts, repay debts that could not be compensated by insurance due to the huge losses caused by the earthquake in time, or use insurance compensation or guarantee to offset debts that could not be repaid after disaster reduction.

In short, the people in the house are gone, and the mortgage will continue to be paid; When a person is still alive without a house, the house becomes an inheritance and then returned by the heir; People and houses are gone, and there is no heir. In this case, there is no need to return them.

My home is in Wuhu, Jiangcheng. At present, it is really affected by the flood. The continuous rainstorm made us very worried. On the way back, I saw several military vehicles for emergency rescue and disaster relief. I still remember the eyes of a young comrade sitting on the truck, firm but immature, probably the age of my brothers. Suddenly I feel that the flood is ruthless, but people are affectionate; Floods can indeed destroy our houses and flood our land, but they cannot be destroyed by our will.

Now let's get back to the point. If an unexpected disaster destroys our house, will our mortgage be repaid? That's a good question We can answer through legal content.

We want to look at the contract law-

Article 1 17 Force Majeure

Pay attention to the following points:

1. Force majeure here actually includes natural disasters, wars and so on.

2. If it is a breach of contract caused by force majeure, the average house owner is really not at fault, so it is usually exempt. But according to the law, if it is a breach of contract caused by force majeure, you should also bear the responsibility!

So, the loan that you don't think needs to be repaid is actually your house from the date you buy it. So, you still have to pay back the loan, generally speaking-

1. If our house has a loan, but the earthquake, the house collapsed and the flood came, you should continue to pay the loan.

If our house has a loan, but if there is a fire and the house is burned down, the bank still wants you to repay the loan.

3. When the house collapses, the defaulter depends on God, and the loan does not need to be repaid, which is the bad debt of the bank, because the defaulter is in debt relationship with the bank, unless the other party has an heir.

Draw a conclusion and fish for dry goods.

There is a high probability of returning goods. If you are lucky and the G family has a policy, then you may not return it.

Related parties: property buyers, banks and insurance companies.

Note that after buying a house here, it has nothing to do with the developer.

The first step is housing registration. At this time, the house is yours and you are related to the bank.

You only paid 30% to 40% down payment. Why do you own this house?

Because your house is mortgaged, or guaranteed, and then the bank gives you money and the developer gives it to you.

But because you still want to live, this is the characteristic of housing mortgage. The right of residence is yours, and you are the caretaker, but if you owe money, the bank can recover it.

Step two, you are heavily in debt, and then the house goes wrong, damaged and lost. What about the debt? The debt is still there.

So your collateral is gone. Who is in charge? You're watching.

Do you think the bank will let you go?

Insurance companies generally have no compensation for force majeure. There seems to be some now, but not all. Or it won't be very high, or a large-scale earthquake will surpass itself.

I know you don't agree. I'm miserable enough, and I can't stop the earthquake disaster. But I didn't make the rules. This is the result of the game and compromise of all parties.

Otherwise, think about it. In order to avoid this risk, banks may raise interest rates, make it more difficult to buy a house, or even refuse to lend directly. When financial activities stop, real estate may not work, and everyone has no house.

So choose the lesser of the two evils.

Third, if a large-scale natural disaster occurs, it will lead to regional instability. The state may take measures, such as debt restructuring, such as delaying repayment of loans, such as writing off bad debts of banks, such as using financial transfer payments.

It is equivalent to using state taxes to help the victims exchange the money.

But this is definitely an influential event.

You must pay it back. There is no conflict between the quality of your house and not paying the loan. The bank only recognizes the borrower, and the mortgage is only the reason for your loan. As long as the borrower is still there, you need to fulfill the obligation of repayment. If the landlord doesn't want to return it, you can only get a credit card. In other words, whether the house is here or not, as long as the lender is there, you must pay back the money.

Generally speaking, in the event of a disaster, there will be insurance or state resettlement houses, but banks will not be the ultimate undertakers of such catastrophic events. There is only one possibility that there is no need to pay back the money, that is, this kind of thing happens all over the country at the same time, so I guess no one will pay back the money.

But this is impossible, so no matter what happens, as long as the lender is there, it must fulfill the obligation of repayment. If you don't return it, you will definitely report it to the credit bureau.

Like the Wenchuan earthquake, which suffered heavy losses, there will be state subsidies and resettlement houses. Ordinary banks will also reduce interest according to the instructions of management, but the principal still needs to be repaid, and the repayment period can be delayed.

There will also be banks damaged by catastrophic disasters. Although the bank's big data will record the amount and time of repayment, there will also be losses. At this time, the bank will not let you pay back the money first, but will count your losses first, and there will be no notice of paying back the money until the reconstruction is over.

It's not what everyone thinks, and the post-disaster reconstruction will not be completed and you will pay back the money. Who can afford it at this time?

abstract

There have been many disasters, earthquakes and floods in our country, almost every few years, and this situation will be rebuilt according to different degrees. Resettlement housing is the most basic condition, and bank loans are online and will not be erased because of disasters, but repayment will definitely wait until the economy stabilizes, in which case only the principal will be repaid.

Second, the earthquake destroyed the house, should the mortgage continue to be paid?

After the 5 12 Wenchuan earthquake, our generation had a profound understanding of the earthquake. Earthquakes are silent, inevitable and come quickly. When I came, I only brought disaster. When I left, I left nothing but ruins. The deepest impression left by the earthquake is nothing more than a collapsed house. So if the house is gone after the earthquake, will the mortgage be paid back?

If it is a one-time delivery, the loss shall be borne by the developer when it is not delivered, and the loss shall be borne by the buyer if it has been delivered. What if it's a house bought with a loan? Here we have to talk about the relationship between property buyers, banks and developers. When buying a house, choosing a loan to buy a house is actually to mortgage the house to the bank, and the bank will pay the money to the developer in stages or at one time, and the buyers will repay the loan every month.

At this time, the owner of the house actually belongs to the buyer, so according to the contract law, if the house collapses due to force majeure, the buyer will bear the loss of the house and continue to repay the loan. And if the house is gone, people are gone, and the bank has no choice but to terminate the debt relationship. It is worth mentioning that when the house is damaged as collateral, the debt relationship with collateral becomes the debt relationship without collateral. In other words, if you don't pay back the money from the bank, you have no choice but to hack your credit.

The Chinese government's regulations on natural disaster relief generally stipulate that the institutions in the places where natural disasters occur should coordinate the relief to the affected areas at all levels, and have the obligation of relief and subsidy, but not the obligation of compensation. However, the country has great coordination, which can be seen from the assistance from all walks of life to the disaster area every earthquake. The state will plan the way out for those victims who have suffered huge losses, and the party in need will support them from all sides. Every time there is a major disaster, our reconstruction work is always carried out very quickly. I have to say that our country is really great.

Third, housing mortgage, if there is an earthquake, should we continue to repay the bank?

Some people think that if the loan house is damaged in the earthquake and the residual value is lower than the arrears, the lender may not have to pay the balance-that is, it is affected by force majeure. However, the answer of commercial banks may be different. The general theory of the mortgagee is that the debt relationship between the lender and the bank will not disappear because of the loss of the collateral (house). In other words, even if the house is completely damaged, the lender is obliged to pay off the remaining loans on a monthly basis.

Housing mortgage loan is a kind of consumer loan. From the perspective of civil law, lenders and banks play the roles of debtors and creditors respectively, and housing property rights are collateral collected by banks when they issue loans; But the loss of collateral does not lead to the end of the relationship between the debtor and the creditor. In fact, according to China's General Principles of Civil Law and previous cases: if the collateral is damaged and the collateral has been insured, the bank has the right to make compensation from the insurance money first; If you are not insured, you can also recover from the bank from other properties of the recourse lender. As China has not yet established a "personal bankruptcy protection" system, this means that banks have the right to request the freezing of other deposits or assets of lenders.

Obviously, it is impossible for banks to voluntarily exempt debtors from repayment obligations. So, can mortgage insurance pay for the houses affected by the earthquake? According to the popular home insurance clause on personal loan mortgage in the insurance industry, the insurance company will not be liable for the loss of the insured property caused by "earthquake or secondary causes of earthquake". Some lawyers said that according to the principle of autonomy of will in the contract law, on the basis of full consultation between the two parties to the insurance contract and the principle of consistent rights and obligations, the mortgage lender can re-determine the insurance terms with the insurance company by increasing the premium. However, this obviously does not help the house that has already lost money. Because the history of mortgage loan is still short, and there are few large-scale natural disasters during the period, there are many gaps in the legal system and actual operation, and the possibility of disputes in the future cannot be ruled out. We look forward to further clarification of national policies.

Fourth, natural disasters lead to the collapse of houses. Is the mortgage still used?

Legal analysis: Even if everyone's house collapses due to earthquake, flood and other special circumstances, it will not affect the existence of bank mortgage loans. Even if the house is gone, the bank's mortgage will continue to be paid. After all, the real estate belongs to everyone, not the bank, but the creditor's rights belong to the bank. However, after the house collapses due to natural disasters, banks usually give a transition period, such as half a year or a year, allowing everyone to postpone repayment. There is no penalty interest for deferred repayment, and it is not included in the credit history.

Legal basis: Article 461 of the Civil Law of People's Republic of China (PRC), if the real estate or chattel is damaged or lost, and the owner of the real estate or chattel requests compensation, the owner shall return the insurance money, compensation or compensation obtained from the damage or loss to the owner; If the damage of the obligee has not been fully compensated, the malicious possessor shall also compensate for the loss.