A growing number of people have opted for loans because of the need to buy a home, which is a more common form of loan for the general population and can be repaid on time and within a specified time frame. But what would the bank do if it didn't pay the mortgage for three months? We will analyse this issue from several angles。

1. Suspension of loans and follow-up:

In general, the bank collects the loan several times after it has expired, but if the loan is not repaid for three months, the bank suspends the loan and starts to collect the default. Banks can remind lenders of the consequences of repayments by telephone, text messages, letters, etc. If there is still no repayment, the bank may act as a catalyst for collection. The collection companies may use telephone, door-to-door or even legal means。

2. Instituting proceedings:

If the lender is unable to repay the loan, the bank may sue. Following a court decision, the bank may take the following measures: auction the house by means of court enforcement, thereby paying off the debt; deduct a percentage of the amount repaid from the loaner ' s salary; deduct a percentage of the amount repaid from the bank account, etc. Bank actions may have serious financial implications for lenders, which, of course, is also a method that banks are reluctant to adopt。

3. Impact of overdue loans:

Long-term non-payment of loans by lenders can seriously affect their credit records, not only in their individual credit evaluations and credit records, but also in their individual consumption credit. If the lender is required to re-finance the loan, the bank is likely to refuse the loan application or request an increase in the loan rate. Even more serious is the possibility of affecting the career and the image of the community if the long-term default of the lenders leads to poor credit records。

4. Consultative repayment plan:

In the case of lenders, banks may agree if they communicate with the bank at the first time after the loan has expired and propose a negotiated repayment plan. It should be noted, however, that the preparation and implementation of repayment plans can take place only after you have reached consensus with the banks. In formulating repayment plans, lenders must make reasonable arrangements based on their financial situation and ability to repay, and must be firmly enforced in order to avoid default。

In short, there are a number of negative consequences arising from overdue repayment of mortgages. In the event of a problem of repayment by lenders, timely communication with the bank and a negotiated repayment plan are needed to avoid more serious consequences. It is recommended that lenders consider their financial position carefully before making loans to ensure that they are able to pay on time。