Unpaid mortgage loan, what happens?
With the unpaid mortgage, based on the number of unpaid installments, the bank can decide to send the operation to suffering.
First of all it is right to point out that it is the intention of each bank to find a meeting point with the individual customer and therefore to avoid that the practices go to suffering. Therefore for those who find themselves in the condition of an unpaid mortgage, the first thing to do is to analyze if there are real possibilities to regularize the arrears, but above all to resume with the regular payments of the new installments. In this case the best thing to do is talk to your bank and concretely demonstrate the intention to regularize the unpaid mortgage.
For unpaid installments, the bank will be willing to evaluate a gradual return over time and will not put undue pressure on the unpaid mortgage to be regularized, but as said before, the first step is to talk to the bank and demonstrate with partial payments the goodwill of recover the current position.
Pensioners can obtain a new loan
In the case of a loan not paid for a prolonged period, the bank has the faculty to put the loan to suffering , then freeze the debt and activate all the procedures useful for the recovery of the credit disbursed. In essence, the legal department will activate to enforce the first degree mortgage registered on the property and this will materialize with the auctioning of the property. Once sold, the court will pay all or part of the outstanding debt with the bank. In the event that the debt exceeds the credit obtained with the sale of the property, the customer will still be liable to the bank. Therefore in these cases the client will not definitively extinguish his position with the institution.
With an unpaid mortgage, the possibility of access to credit is also reduced. Only permanent employees or pensioners can obtain a new loan. In fact for these two categories, through the sale of the fifth, it will be possible to obtain new liquidity even with an unpaid loan.