If you became unable to repay mortgages home was auctioned and featured consumer finance espresso

Mortgages are often life’s largest debt.
Become a long-term repayment in interest rates are quite low, but large amount of debt that the repayment period for a long, will become a considerable amount of interest amount.
And become unable to mortgage repayments if my home is to be hung in the “auction”.
Here introduces real estate auctioneers. And the auction?
It is the legal stuff done during the auction and received mortgages from banks and other financial institutions, the debt was not repaid.
Mortgage if my home is treated as collateral.
So it is not be repaid and my home are financial institutions like handled will be.
“Auction” is in there.
The auction begins financial institutions that claims to court.
This is to cover that amount, and if the claim is accepted, the Court sold forcibly and flow.
It’s actually an auction depends on the country judge, clerk, Court of.
Cannot repay, and allowed the auction or not, about the decision of the owner of the House doesn’t matter at all.
That claims of mortgagees and creditors who lent the money only if the auction starts.
We will determine the real estate appraisers about the value of the property was entrusted to the Court.
To be auctioned are appraised as than the general housing market price considerably lower estimate will take the minimum sale price that is determined here.
Also not only about half of the market price in some cases.
Of course, will not put to auction off higher debt repayments more left.
E.g. 10 million yen becomes the minimum sale price and auction has started.
Bid 12 million yen in a, B’s bid at 12500000 yen, bid successfully bid 15 million yen again Andy.
15 million yen sold at auction is in this case. What happens after the auction?
What happens after you couldn’t make their mortgage payments, was put on the auction house.
Leaving the House because at the time, of course, was put on auction a home already and others are not.
That is you must find a new home.
In addition, depending on the price auctioned is often followed by repayment of the debt.大阪府八尾市のプロミス店舗一覧検索