What should I do if the commercial housing subsidized by resettlement houses is unable to repay the loan?

When you can't repay the loan, you can contact the bank for temporary help. But the bank has its own rules and regulations, and it is rarely possible to make special treatment for you. You can also borrow money from relatives and friends to pay off the mortgage first.

If the lender really can't repay the loan on time after purchasing the commercial house, as a loan bank, it is necessary to urge the lender to repay the loan in order to safeguard the interests of the bank. If the lender and the bank originally agreed to repay the loan principal and interest in full at 15, this does not mean that the bank cannot exercise the mortgage right before 15 expires. If the first and second installments cannot be repaid on time, the bank may not exercise the mortgage right immediately, but it will exercise this right when it accumulates to a certain extent.

At this time, the lender will weigh the advantages and disadvantages according to the actual situation. If the lender has paid off most of the loan, it can consider temporary assistance and return the remaining loan principal and interest. If it is not a temporary difficulty, we should consider other ways to solve it. For example, with the consent of the bank, the purchased house will be transferred and the loan will be repaid with the proceeds from the transfer. With the consent of the bank, the new buyer signed a mortgage contract with the bank, and the new buyer continued to perform the repayment obligations. Although this is not an ideal method, it is much more positive than the bank's solution through auction or litigation, and the economic loss is much smaller.