The price of the house is reduced from 12000 yuan to 8000 yuan, should I cut off the loan?
Hello, everyone, I am Old Huo, the price of the house has been greatly reduced, from 12000 yuan when I bought, to the present 8000 yuan, should I cut off the supply?I can clearly tell you, can’t outages, as long as there’s ability to insist, don’t go for the idea, for the consequence is very serious, I’ll give you a analysis reason ~ if you suddenly choose house foreclosures, three working days, the bank will call you to pay the house loan, after three months, will find you interview reimbursement matters, your personal integrity will be bank blacklisted,Enter the integrity file.After six months, if you still can’t make the payment on schedule, the bank will formally Sue the court, deal with and impound your house according to law. After the house is impounded by the court, the court will auction it. The so-called law auction house is the house impounded by the court after everyone can’t pay the mortgage.If all goes well, the court will auction money, the house for the liquidation of the building, if the auction money can pay off your loans, coupled with high attorney’s fees, the congratulations you, you only pay a down payment, but most of them want to lose money, foreclosure house selling very low price, and attorney’s fees, so not only your house being put up for sale, all money can’t meet the requirements of your loan,All the money you lose, you need other assets to pay for it.At this time, if the house is sold and your loan cannot be paid back, the bank will inform you to continue to perform your loan contract. If you ignore it, the bank will freeze and deduct your deposit account, fixed term, current account, Alipay, wechat and all your personal accounts.Because of the above reasons, it is not recommended that you cut off your mortgage to solve your financial problems after the housing price falls. Instead, you should try to keep your house if you can. Although it falls in the short term, in the long run, with the inflation and depreciation of the currency, holding the house will still obtain stable income.If you default on your mortgage, your house is out, but your mortgage is not out.