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What should the bank do if the mortgage is not paid?
Now most people buy houses, and many people have mortgages. Now more and more people can't repay their mortgages normally because of the particularity of their personal circumstances, so how should banks deal with mortgages? Let's have a look.
If the customer cannot pay the loan, the bank is likely to sue the customer. If the customer does not pay back the money, it is likely to be enforced by the court and auction the house to pay off the debts. Of course, under normal circumstances, banks will not sue customers, and only customers will file lawsuits after more than three months. And in this case, if the customer is in arrears for a long time, or has a large debt, then it can only be solved through legal channels.
What should I do if I am sued by the bank for loan default?
If the loan breach is prosecuted, the following measures can be taken: 1. Pay off all debts before the court accepts them, and the bank will automatically withdraw the lawsuit.
If you can't repay the debt now, you can consult with the bank before the court session. In the process of negotiation, it is best to provide relevant evidence, such as evidence of termination of labor contract. For example, if you can't repay the debt, you can ask the bank to extend the repayment period and repay the debt in installments. If the bank finally agrees, then they will drop the lawsuit and discuss the new repayment plan with the customer.
Besides, you can borrow money from relatives and friends to pay off your debts. When you have enough money, you can return it to your relatives and friends.
4. If you really have no money, or if the bank doesn't handle it, you need to provide some proof (such as unemployment, family changes, etc. Prove your credit before the judge, it is not a malicious debt, but also has the ability to repay from the time of prosecution, so that the court may also make a reasonable ruling.
Users still can't pay off their loans through various channels. They can also consider hanging their houses on the market and paying off their debts by selling them. As long as the bank can recover the loan, it will not go to court again.
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