Please note that, in the case of housing loan repayment processes, the problem is of varying degrees, depending on the length of time elapsed, if restitution is not possible on time. Let us look at three possible delays and their subsequent effects。

What are the three cases of overpayment

First, if you inadvertently forget to pay within the agreed time, but within three days of the delay, you may not be too concerned for the time being. Because most banks have a corresponding grace period, you just have to call the bank or go to the counter and explain. If you can repay the overdue loan within one to three days, then the delay will not give rise to interest and demurrage, and your credit records will not be affected。

Then, if you're over three days overdue, the situation is somewhat different. The bank may report this overdue record to the letter system. In general, however, you need to confirm whether the bank has submitted your overdue records. If the bank has not submitted it, you should pay it back as soon as possible to prevent the creation of late records. But once the bank has submitted your overdue records, you have to wait five years before your credit can be restored。

Finally, the bank will judge non-moral overdue repayments (e.g. inadvertently forgotten, etc.). If you can prove to the bank that this is not maliciously overdue, you may avoid further problems, such as applying for credit cards or being blacklisted。

In general, the effects of overdue mortgages can include damage to letters of credit records, interest rates and the emergence of late payments, including even the freezing by the courts of all your bank deposits and other mortgaged property. It is worth mentioning that if your mortgage is overdue for more than March, the bank has the right to file a complaint with the court. Please therefore ensure that you are able to complete the loan on time and avoid unnecessary consequences。