How long will the overdue mortgage be sued for auction?

According to the relevant provisions of People's Republic of China (PRC) Commercial Bank Law, the borrower shall repay the loan principal and interest on schedule. Generally speaking, if there is no repayment at one time, the bank will call and SMS to remind you to repay on time, and at the same time, it will generate penalty interest. If the mortgage is overdue for more than three months, the bank or lending institution is likely to bring a lawsuit to the court and ask the borrower to repay the loan as soon as possible through legal channels. For loans that are overdue or not used according to the purpose agreed in this contract, interest will be charged at the default interest rate from the date when they are used in loans overdue or not according to the purpose agreed in this contract until the loan principal and interest are fully paid off. For the interest that cannot be paid on time, compound interest shall be calculated at the penalty interest rate.

Extended data

People's Republic of China (PRC) Commercial Bank Law

Article 41 No unit or individual may force commercial banks to issue loans or provide guarantees. Commercial banks have the right to refuse any unit or individual to force them to issue loans or provide guarantees.

Article 42 The borrower shall repay the loan principal and interest on schedule.

If the borrower fails to repay the secured loan at maturity, the commercial bank has the right to require the guarantor to repay the principal and interest of the loan or give priority to the repayment of the collateral. Real estate or equity acquired by a commercial bank due to the exercise of mortgage or pledge shall be disposed of within two years from the date of acquisition.

If the borrower fails to repay the credit loan at maturity, it shall bear the responsibility in accordance with the contract.

Article 43 Commercial banks shall not engage in trust investment and securities business within the territory of People's Republic of China (PRC), and shall not invest in non-self-use real estate and non-bank financial institutions and enterprises, unless otherwise stipulated by the state.

Article 44 Commercial banks should handle cash bills, acceptance bills, remittance bills and entrusted collection bills. Within the prescribed time limit, and record the receipt and payment, and shall not illegally hold tickets, hold tickets or refund tickets. The time limit for recording cash, income and expenditure should be published.

Article 45 The issuance of financial bonds or borrowing from abroad by commercial banks shall be approved in accordance with the provisions of laws and administrative regulations.