46,000 mortgages are overdue, and buyers have to "abandon the house and cut off the supply". What should Guilin owners do?

Affected by the epidemic, the employment situation in tourism, catering and service industries is grim, as is the real estate industry.

The inventory pressure in the property market is high, house prices are falling, and the real estate market is not optimistic. Some housing enterprises can't stand the financial pressure. As property buyers, some people who haven't bought a house are still waiting to see for economic reasons, but those "house slaves" who have bought a house, like many developers, have never been able to "be immune".

Why?

Under the epidemic, employees from all walks of life have been affected, and the income of buyers has been affected, so they have to bear great pressure to repay loans. In addition, salary cuts and layoffs in all walks of life have increased the unstable factors of income, and the situation faced by buyers is even more difficult.

Even in cities with severe epidemics, the income of owners has declined for several months in a row, and some have no choice but to "abandon their houses and cut off their supply".

How difficult is it to buy a house when the 46 thousand mortgage is postponed?

A few days ago, the news briefing of the banking industry in Guangdong Province in the first quarter of 2022 was held, and the Guangdong Banking Insurance Supervision Branch revealed a shocking data:

Since the outbreak of the epidemic in 2020, Guangdong Province has postponed the repayment of 46,000 mortgages affected by the epidemic, involving more than 30 billion yuan in loans. Among them, 772 households have applied for deferred repayment of mortgage loans since 2022.

In addition, Guangdong reduced the penalty interest for mortgage customers affected by the epidemic by more than 7 million yuan, and handled 24,000 applications for credit information objection.

Tuyuan Guangdong Banking Association WeChat official account

As soon as the data was released, it caused a heated discussion among netizens. Unexpectedly, so many homebuyers are applying for deferred repayment of mortgages.

Guangdong is one of the provinces with the highest GDP in China. It is conceivable that the data of this province alone is amazing, and the number of families involved in other provinces in the country is simply unimaginable.

Netizens are also feeling that it is really not easy for buyers to buy a house.

Not only that, but there are also many cases where buyers are trapped online.

For example, not long ago, a takeaway brother in Xi 'an suffered from depression due to the epidemic. For five months in a row, he couldn't afford a mortgage of more than 4,600 yuan per month. The house was auctioned by the court and collapsed directly on the spot.

Last month, a video of a woman fainting and crying in the Shenzhen subway was circulated on the Internet. In the video, the woman shouted at the phone in the corner of the subway station: "How can I repay the loan of 3.68 million yuan?"

What's more, the news that the owner of the uncompleted residential flats was urged by the bank broke out, which made countless property buyers scream: Why was the owner the last to get hurt?

Weibo screenshot

Therefore, in April, the topic of # It is necessary to put mortgage repayment on the agenda because of the epidemic # also rushed to the hot search list in Weibo.

There is also a joke on the Internet that says "COVID-19's mortality rate is 0.0 1%, and the non-working mortality rate is 100%", which really pokes the pain points of countless car owners.

However, it is true. Due to a series of factors such as the epidemic, more and more people are facing the embarrassing situation that they can't afford to pay their mortgage, car loan and credit card. In the end, many homebuyers had to be forced to cut off their mortgage because they still couldn't pay their mortgage.

What are the consequences of a mortgage default?

According to the platform data, in the first year of 2022, the four major banks have sued 200,000 owners for breach of contract. Due to the epidemic attacks in several cities in March and April, the number of people who have been forced to "cut off supply" so far is far more than this figure.

Due to various reasons, some people have difficulty in repaying their mortgages, and some owners have chosen to "cut off the supply".

But in fact, the essence of mortgage is that individuals have a loan relationship with banks, establish contracts, and use houses as collateral. Choosing to "abandon the house and cut off the supply" is far more serious than imagined.

According to news reports, a netizen bought a house in Beijing on 20 17, but the house price fell by half because of the later salary drop. Four years later, he chose not to repay the mortgage. After being sued by the bank, in addition to the unpaid 2.82 million yuan, it has to bear the penalty interest, the case acceptance fee, the prosecution lawyer's fee, etc., totaling more than 1.9 million.

There is also a financial loan contract dispute case in Nanchang City, Jiangxi Province. Defendant Li, continuous power outage 12. On the grounds of Li's breach of contract, the court ordered Li to repay the remaining loan principal of 523,299 yuan and interest in advance. There is also a lawyer's fee of 8,000 yuan, and the plaintiff's bank has the priority to be compensated for the proceeds from the real estate auction.

It is reported that under normal circumstances, the owners have defaulted on their mortgages for three consecutive months or accumulated for six months, and they cannot repay their mortgages in time. In the case of unsuccessful recovery, no matter how much down payment the owner paid, no matter how much loan was repaid.

In the bank's view, it is a situation of "no repayment ability". In order to control the mortgage risk, the bank will sue the court, seal up the house and put it on the auction website to recover the cash.

What kind of situation will the owners face when they abandon their houses and default on their mortgages? Some lawyers also detailed a series of possible consequences:

Swipe up and down to see the whole picture.

Obviously, the cost of "abandoning the house and cutting off the supply" is too high.

Some insiders said that the number of auction houses in China increased rapidly this year, mainly in two situations: one is that the property held by the company was auctioned by the court because of poor management; Another is the "foreclosure" of ordinary people, and the house is finally auctioned by the court.

The buyer's "abandoned house" also made more "auction houses" appear on the auction platform and were finally auctioned at low prices.

Therefore, once property buyers choose to buy a house with a loan, they should not easily choose to "cut off the supply", resulting in the consequences of "empty property".

It is difficult to repay, what should Guilin owners do?

So, what if the buyer really encounters difficulties?

It is really difficult to repay the loan in a short period of time, and there are some reference methods. For example, affected by the epidemic, the owner's income is not good and he can't repay the loan on time.

In fact, in a special period, the government will also introduce some special policies to flexibly adjust loans.

On May 4th, China Banking Regulatory Commission (CBRC) said that banks and insurance institutions should be urged to adhere to the orientation of "houses are for living, not for speculation", implement differentiated housing credit policies, support the demand for first-home and improved housing, and flexibly adjust the repayment plan of individual housing loans for the affected people.

As early as February 2020, the Notice on Further Strengthening Financial Support for the Prevention and Control of the novel coronavirus Epidemic issued by the People's Bank of China, the Ministry of Finance, China Banking and Insurance Regulatory Commission and other five departments also showed that during the epidemic prevention and control period, if the hospitalized or isolated personnel were infected with new pneumonia, the isolated observers needed for the epidemic prevention and control, or the personnel involved in the epidemic prevention and control could not repay in time due to the impact of the epidemic, they could submit the relevant overdue loans and arrears to the bank, and there was no overdue record.

In mid-April this year, the People's Bank of China held a press conference on financial statistics for the first quarter of 2022. At the meeting, it was also clearly stated that "financial institutions should flexibly adjust repayment arrangements such as housing mortgage and delay the repayment period reasonably".

For many families, mortgage is a large fixed monthly expenditure. To this end, the branches of the five major banks that established diplomatic relations between workers, peasants and China have issued corresponding policies, which can provide service support to individual housing loan customers affected by the epidemic, including delaying repayment time and extending loan term.

In Guilin, Guilin Bank, China Industrial and Commercial Bank Guilin Branch, China Construction Bank Guilin Branch, China Agricultural Bank Guilin Branch, China Bank Guilin Branch and China Bank of Communications Guilin Branch have also issued corresponding deferred repayment policies.

During the deferred repayment period, customers are not included in the list of defaulting customers, and banks protect customers' credit information and continuously strengthen customer service.

Screenshot of Guilin Bank's deferred repayment policy announcement

The policy that mortgage repayment can be postponed due to the epidemic is indeed a big plus for those property buyers in Guilin who really encounter financial difficulties and cannot repay on time.

Faced with the problem of poor income under the epidemic, mortgage is indeed a "pain" for many property buyers, but I think we must maintain active consultation and apply to the bank for an extension in advance. When the bank proves that the situation is true, it will generally give grace time and try to resolve the risk in advance.

To sum up:

Buy a house, or do what you can! Be sure to choose the right bank, control the mortgage amount and evaluate your long-term income! Once you encounter repayment difficulties, don't cut off your mortgage easily.