Will there be letters to collect overdue mortgages?

Generally speaking, after the mortgage is overdue, the bank will not easily issue a reminder. More is in the form of phone calls and text messages for collection. If the borrower does receive this letter, it is likely to be a court summons or a lawyer's letter collected by a third party.

If the overdue period is less than 30 days, and the amount is relatively small, the bank will generally only collect the money and inform the borrower to repay. If it is more than 30 days, it will be collected at home. Of course, after the mortgage is overdue, the bank will charge a penalty interest. Under different circumstances, the longer the mortgage is overdue, the standard of interest rate will gradually rise.

If the first month is overdue, the collector will return the money in time after calling. If it is delayed for another two months, the bank will not take the lawsuit to court. Everyone should take a warning, pay attention to the provisions of the contract on the monthly repayment amount, repayment date and corresponding liability for breach of contract, ensure timely and full repayment, and don't lose big because of small.

If you really encounter cash flow difficulties and cannot repay the loan, you can apply to the bank for an extension in advance. The conditions for extending the loan term are as follows: the extension of short-term loans shall not exceed the original loan term; The extension of medium-term loans shall not exceed the original loan term; The longest extension of long-term loans shall not exceed three years.

What are the consequences of overdue mortgage?

1. After the mortgage is overdue, the lender's credit information will be affected, especially for banks with strict loan regulations. Even if the lender only delays for one day, the bank will enter the overdue information into the credit information system, which will affect the future loan and credit card application.

2. No matter what the reason for the lender's overdue repayment is, as long as the lender fails to repay the loan on time, there will be corresponding penalty interest. Under normal circumstances, it will rise by 30% to 50% on the basis of the original loan interest rate, but the bank will give the lender seven days to make up for it. If the repayment is not made within seven days, there will be a late fee.