1. Income instability: Some borrowers may face job changes, career instability, etc., resulting in large income fluctuations, making it difficult to repay the mortgage on time.
2. Excessive expenditure: Some borrowers may ignore the reasonable planning of daily expenditure after buying a house, resulting in a high monthly payment ratio, which is difficult to afford, resulting in overdue.
3. Life is tight: Individual borrowers may not be able to repay their mortgages in time due to family emergencies (such as illness and accidents) or other unforeseen difficulties.
To sum up, there are many reasons for overdue mortgage, which may involve income stability, expenditure management, personal living conditions and so on. For borrowers, reasonable planning of income and expenditure, maintaining a stable source of income and properly handling unforeseen difficulties in life are important measures to avoid overdue.
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The overdue mortgage has brought adverse effects to both borrowers and banks. For borrowers, overdue will lead to personal credit damage and limit future lending opportunities. At the same time, banks will also face risks and may need to take recovery measures, such as expropriation and auction of real estate, to protect their own interests. Therefore, it is important for both parties to avoid overdue repayment.
In practice, if the borrower foresees the possible overdue situation, he should communicate with the bank as soon as possible to seek solutions, such as adjusting the repayment plan or applying for extension. In addition, borrowers can set up emergency reserve accounts through reasonable planning of household income and expenditure to deal with emergencies. Banks can also strengthen risk assessment and pre-loan review to ensure that borrowers have repayment ability and provide necessary post-loan services to reduce the occurrence of overdue situations.