After the magnitude 7.0 earthquake in Jiuzhaigou, Sichuan, a topic that is often mentioned has once again received widespread attention, that is, if the house during the repayment period is destroyed during the earthquake, do you need to continue to repay the mortgage? In fact, the answer is yes, because this is the house only the mortgage of the loan, and the mortgage is lost, but the loan relationship continues to exist.
Regarding house mortgage loans, there are the following situations in actual situations:
First, if the mortgaged property is damaged and the lender is missing, the bank will terminate the contract relationship, and the loan that has not been repaid will be written off;
Second, if the mortgaged property is still in the lender and the heirs of the mortgaged property are missing, and the bank may recycle the mortgaged property according to the law, and the unrepaid loan will be processed according to bad debt ;
Third, if the mortgaged property is still in the lender and there is an heir to the mortgaged property, the heir shall bear the loan contract relationship and continue to repay the loan;
Fourth, if the mortgaged property is still in the lender and the lender is still in the clearance, the loan relationship will continue to be fulfilled.
earthquake, especially after the destructive earthquake, the affected people faced a major force majeure natural disaster . When their minds are traumatized, their property is destroyed, and their lives are not bound, if they still have to bear the mortgage debt of the house destroyed by the earthquake, it is not appropriate from a humane perspective. The country has also introduced some special policies, such as:
On May 19, 2008, the People's Bank of China and the China Banking Regulatory Commission issued the "Urgent Notice on Doing a Good Job in Financial Services in Earthquake-stricken Areas", requiring all banks to fully consider the actual difficulties of the people and enterprises in the affected areas, and to do not collect and collect, pay interest, or make bad records for units and individuals who cannot repay various loans on time in the disaster area.
On May 23, 2008, the China Banking Regulatory Commission issued the "Urgent Notice on Doing a Good Job in the Write-off of bad debts in the Banking Industry caused by Sichuan Wenchuan earthquake", requiring that debts that borrowers who have suffered huge losses due to this earthquake and cannot obtain insurance compensation, or who still cannot repay after compensation with insurance or guarantees should be deemed as bad debts and will be written off in a timely manner.
In order to reduce losses caused by earthquake disaster , in recent years, the country has issued earthquake catastrophe insurance, which can reduce property losses to a certain extent. Another point is that our country is a socialist country with strong earthquake relief and disaster reconstruction capabilities. We have explored a path suitable for our country's specific national conditions in the process of recovery and reconstruction of many natural disasters.
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