Why did you receive the SMS notification of mortgage? What is the impact of overdue mortgage?

one is that your mobile phone number has been leaked, and the other is that the mortgage is overdue and the bank has notified you of the collection.

what are the consequences of overdue mortgage repayment

1. Bad personal credit record

Once a mortgage loan is overdue, whether it is a commercial loan or a provident fund loan, the lending bank can see your overdue repayment record. If it is a strict bank, even if you are only one day overdue, the bank will enter the overdue information into the central bank's credit information system. Once the overdue record enters the credit information system, it will have a serious impact on everyone's application for credit cards or loans in the future. Even if you can get a loan, the loan amount will be greatly reduced.

2. There will be penalty interest and late payment fee

If the mortgage is overdue, the bank will remind the borrower to repay by phone or SMS. If the repayment is overdue, there will be a penalty interest. The penalty interest of different lending banks is different, and basically 3%-5% is added on the basis of the original lending rate. Generally speaking, the bank will give you seven days to make up the arrears. If all the funds that should be repaid can be made up within seven days, there will be no late payment fee. However, if it exceeds 7 days, the bank will charge a penalty interest and a late fee together.

3. Risk of sealing up mortgaged property

Banks usually set default clauses in mortgage contracts, and require borrowers to repay all loan principal and interest at one time if they are overdue for three consecutive times or six times in total. If the buyer's mortgage has not been repaid for more than 3 months, the bank will bring a lawsuit to the court in accordance with the loan contract and guarantee contract. The court will take measures such as property preservation, freeze deposits in all bank accounts of lenders and guarantors, and seal up pledged property.

how to avoid overdue mortgage

1. remember the repayment date of the loan

check the repayment date and amount in your loan contract, so as to know when to repay and how much to pay back.

2. Make good use of automatic repayment

Many bank cards provide the function of automatic deduction. You can bind a savings card and make automatic repayment three days before the maturity. The premise is to ensure that there is money in this card, otherwise the automatic repayment fails and you forget to repay, so there will be repayment in loans overdue.

3. Keep sufficient repayment amount

After receiving the salary every month, deposit a part of it into the repayment account, and deposit enough repayment amount in advance, so as to avoid the situation that the deduction cannot be made in full on the repayment date and it will be overdue because of a few dollars.