Once the mortgage is overdue, whether it is a commercial loan or a provident fund loan, the loan 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 records enter the credit information system, it will have a serious impact on everyone's future application for credit cards or loans. Even if the loan can be obtained, 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 call or SMS to remind the borrower to repay. There will be a penalty interest for overdue repayment.

3. The risk of seizure of mortgaged property

General banks will set a default clause in the mortgage contract, requiring the borrower to repay all the loan principal and interest in one lump sum if it is 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 according to 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.

What will the bank do if the loan is postponed?

If you don't repay the loan for the first time, the bank will notify you by phone or SMS to remind you that you need to repay the loan on time, and there will be penalty interest.

For more than three times in a row, the bank account manager of your loan will call you directly and start to urge you to repay the loan on time, and will also come to urge you to repay the loan. At the same time, the loan applied by the borrower will be deducted.

After more than six times, banks will protect their rights and interests through legal means. At this time, the bank's lawyer will start calling you to remind you that the consequences of not paying back on time are very serious. During this period, your mortgaged property will be frozen in order to negotiate repayment with you.

After negotiation, if the borrower fails to repay the loan, the bank will auction the property through legal procedures, and the guarantor will bear joint and several liability for recovery.

Borrowers will not be able to obtain loans from other financial institutions in the future, and there will be bad records in the personal credit information system. Once there is a credit stain, even if the loan is replenished later, the credit stain will follow the borrower for five years.