In an era of high housing prices, more and more people are choosing to purchase property through loans. However, for many, repayments are quite difficult. If there are overdues, there will inevitably be pessimism in mind: “Will it cause trouble after six months?” In practice, the six-month delay in mortgages has a number of consequences, which are analysed from several angles。

The mortgage is six months overdue

1. Impact on personal credit records

Overpayment of the mortgage will allow the bank to make a poor evaluation of your personal credit records. According to the bank, as long as the loan is more than 90 days overdue, it will be recognized as “bad credit”, which will seriously affect subsequent operations such as loans, house purchases, etc。

Fines and demurrages

IF THE MORTGAGE IS SIX MONTHS OVERDUE, A CORRESPONDING FINE AND LATE PAYMENT WILL BE INCURRED. IN GENERAL, DEMURRAGE PAYMENTS ARE CALCULATED ON THE BASIS OF INTEREST CHARGED ON OVERDUE PAYMENTS, WHEREAS FINES ARE CALCULATED ON THE BASIS OF THE LOAN AMOUNT OF 1 TP3T1 AND, DEPENDING ON THE METHOD OF CALCULATION BY THE DIFFERENT BANKS, THE AMOUNTS OF THE DEMURRAGE PAYMENTS VARY。

3. Causing banks to impose measures

The bank will remind you to repay the loan by texting, calling, etc. within the agreed repayment period. In the event of a six-month delay in the payment of the outstanding amounts, the banks will apply coercive measures. At this point in time, banks will recover their arrears by selling houses, etc. If market conditions were low at the time and the prices of the properties you held were difficult to cover, it was likely that you would be in a “blast”。

Will be added to the “Default Executors” list

Borrowing is the basis of business transactions, and banks, as lenders, also need to maintain their own profitability through debt-servicing. If the loan is overdue for more than six months, the bank will, in accordance with the relevant laws and regulations, transfer the collection responsibility to a law firm or a collection firm. At that point, your identity will be placed on the list of “defunct executed persons”, which will greatly affect the user's life, career prospects, etc。

As a result, after six months of time, mortgages not only affect personal credit records, but also have a number of consequences, such as fines, late payment, bank coercive measures, loss of trust records, etc。