In recent years, the level of economic development in our country can be said to have advanced by leaps and bounds, the country’s development in all aspects is getting better and better, and the people’s living standards are constantly improving. However, with the increase in income, we have also found that there are more and more places to spend money, and prices have also risen. Not only that, the pressure of debts such as car loans and mortgages is also constantly pressing on many young people, plus ” Credit products such as “Huabei” and “Baibei” are emerging in endlessly.
Almost young people nowadays will have some debts, and many people have become “indebted”. In this situation, people have more and more opportunities to deal with banks. For the purchase of large items such as real estate or cars, many people almost need to “borrow” from the bank, and this has become a common occurrence.
Of course, we all know that when you borrow money from the bank, you need to repay it on a monthly basis until you have paid off the principal and interest. As an important part of the financial system, the bank obviously will not borrow money from you for no reason. It will definitely get considerable interest from it. For example, if you buy a house of 1 million yuan and make a down payment of 300,000 yuan, borrow from the bank. For a loan of 700,000 yuan, if you choose a 20-year repayment period, the total interest is close to 500,000 yuan. If you choose a 30-year repayment period, the interest is even higher than your 700,000 principal. This shows that, “There will be no pie in the sky,” and banks will not do “loss trading.”
However, some netizens have recently raised the question, if a person borrows 5 million yuan from the bank but dies suddenly, can the money be repaid? What will the bank do? What should I do if the bank can’t get the money back? The insider replied: It doesn’t matter, there is no need to worry about whether the money will come back.
First of all, we should all understand that a bank is not a charity, which means that not anyone can borrow 5 million yuan from the bank. Before the bank lends you the money, the bank will definitely see if the borrower is able to repay the money. If the bank finds that you are unable to repay the money, the bank will not lend you money. Therefore, when the bank lends you money, you need to fill in various information. After approval at all levels, in many cases, you need to “face-to-face”, and these practices undoubtedly greatly reduce the bank’s risk.
Second, no matter which bank, when approving personal loans, it will carefully review the information of the lender. When checking the information of the lender, it is impossible for a terminally ill patient to pass the medical examination, because the bank cannot risk such a risk. Feel free to lend you money.
Third, even if someone passes the review and borrows 5 million from the bank, once an accident happens, it does not mean that the loan will disappear. We all understand that banks are not “fools”, they are very “savvy” and they will definitely try their best to get the money back. Although the borrower has passed away unexpectedly, if he still has an heir, then the bank will go to his heir to pay off the debt. After all, as an heir, he not only has to inherit the property, but also bear the debt. Therefore, as long as there is an heir, the bank will not worry about not being able to collect the borrowed money!
Of course, there will also be another situation, that is, the borrower does not have an heir. What about this? Or when the heirs are unable to repay the money, do they still need to repay it? Of course it is necessary. As we mentioned earlier, banks usually conduct a comprehensive review and evaluation of borrowers before issuing loans to minimize their own risks.
In order to avoid risks, the simplest and most direct method is to ask the borrower to take out some assets as collateral, such as houses and cars. Once the borrower dies unexpectedly, there is no heir or the heir is unable to repay, then the bank can propose an “auction mortgage” to the court, and then use the auction proceeds to offset the debt owed by the borrower. And under normal circumstances, the debtor’s assets are completely repayable to the bank’s debts, because the bank has investigated these before lending.
Of course, if the money from the auction of mortgage loans is greater than the borrower’s borrowed money, the bank will not “swallow” the remaining money by itself, but will hand it over to the heirs. From this point of view, the bank is still more humane.” So what we usually say is that inherited assets are not only inherited money, or houses, cars, etc., of course, “negative equity” is also included in it, and “negative equity” is also considered a kind of asset. Therefore, we At the same time, to enjoy the income of the assets, it is also necessary to fulfill the debts before the life of the debt, which is also protected by the law.
All in all, banks are very strict in terms of personal loans. They will not do business at a loss. Since they are willing to release the money, they will definitely be able to get it back. Repayment of debts is justified. There was a saying in ancient times that “the father should pay the debts.” Nowadays, it’s the same reason. Therefore, we can’t keep a fluke and think that we don’t have to pay back the money if we die. It’s far from simple as we thought. In fact, the bank has already estimated it, and it’s not everyone. You can borrow so much money from the bank.
article links：Borrowed 5 million from the bank and died suddenly
Reprint indicated source：Spark Global Limited information