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1. since 2024, the business of house guarantees has emerged. many institutions claim that they can help owners keep their houses even if they cut off their mortgage payments. the guarantee period is 3-8 years. there are even house guarantee agencies claiming to help owners through house guarantees. made hundreds of thousands of dollars.

2. the fees of some housing insurance agencies are not low. for an existing mortgage of 1 million yuan, the fee is 50,000 yuan. their main method is to raise legal objections at various stages such as overdue collection and pre-litigation property preservation to delay the payment. judicial process to achieve the purpose of preserving the house.

3. cutting off the mortgage payment and guaranteeing the house may seem like a shortcut to alleviate the urgent needs of homeowners in trouble, but in fact, it is taking advantage of the information gap to make profits. since banks have tended to treat people who have difficulty repaying loans coldly, you can also get a certain extension period by communicating with the bank normally.

4. cutting off the mortgage payment to secure a house is essentially a "bet" in which money is exchanged for time. the "bet" is on the future of oneself and house prices, but the risk is temporarily put aside. the monthly payment is not really waived, but continues to accumulate. after the guarantee period ends, if the economic situation does not improve or housing prices do not pick up, it will be impossible to keep the house.

produced by "eye of the storm" on ifeng.com

text | editor by buyu | wen hua

email for breaking the news: [email protected]

01 helping people who have cut off their mortgage payments to protect their houses has become a business

in li ming's mind, a difficult decision weighed as heavy as a boulder - whether to cut off the mortgage payment and secure the house to keep the small home that once held dreams and hopes.

thinking back to that spring of 2019, li ming bought a small house of his own in guangzhou. the total real estate price was nearly 2 million. although the monthly payment required more than 10,000 yuan, it was not unaffordable based on his income at the time. .

but things are unpredictable, unemployment suddenly occurs, and the monthly payment that once seemed reasonable suddenly becomes out of reach. two months ago, after weighing the pros and cons countless times, li ming reluctantly chose to cut off his confession.

he was upset by the constant calls from the bank to pay off his debt every day. at the same time, he became increasingly aware that the house might soon no longer belong to him. according to standard procedures, after the payment is cut off, he will face the cruel reality of bank collection, legal recovery, and even the property being auctioned.

what worries him even more is that house prices have quietly dropped. if the auction amount can pay off the remaining loan, that's fine, but if it is not enough, he will have to bear the remaining debt. this pressure made him almost breathless. just when li ming was almost desperate, he noticed someone on the internet claiming that he could "cut off the payment and save the house."

can i keep my house even if i cut off the mortgage payment? this was something he had never imagined. the service provider of home loan guarantees advertises on the internet: "no matter whether your house is about to be terminated or has already been terminated; whether you have been sued or are being executed, we can help you through legal channels." tailor-made optimal house preservation plan. “the guarantee period they promise is as long as 3 to 8 years. during this period, there is no need to repay the principal and interest. the house can still be rented or lived in, and the children’s schooling will not be affected.

"this will not only relieve your pressure, but also give you enough time to make a comeback. moreover, if the housing market picks up during this period, you can still sell when the price is right." these words touched li ming.

like li ming, many people who have cut off their mortgage payments want to keep their houses, for different purposes. but when faced with the above statement, it is inevitable that people will be tempted.

ifeng.com's "eye of the storm" learned from many staff engaged in the business that among the people who are trying to save their homes, there are not only mortgage buyers whose mortgage payments have been cut off, but also many businessmen who are in trouble due to overdue business loans. they once mortgaged their properties to obtain bank loans in an attempt to keep their businesses running, but due to overestimation of earnings, the capital chain was broken, thus triggering a personal financial crisis.

“either they want to wait a few years before selling the house, or their children need a degree but cannot pay the monthly payment, so they choose to cut off the payment to protect the house,” said a practitioner.

behind all this is the emergence of market demand and the undercurrent of transactions. according to a report released by guoxinda data, the number of foreclosed homes nationwide from january to august 2024 was 434,552, a year-on-year increase of 68.74%. once the transaction is completed, for many people, they will lose their house and money. therefore, since 2024, teaching people to "cut off their mortgage payments and protect their houses" has become a business.

judging from the wechat index, the topic of cutting off property supply and protecting housing has continued to gain popularity this year. on september 2, the wechat index exceeded the 1 million mark. the business of housekeeping service agencies is also quite booming. a relevant blogger wrote in the introduction that it has successfully provided housekeeping services to hundreds of families.

in essence, cutting off the mortgage payment to protect a house is a "bet" in which money is exchanged for time. the "bet" is on oneself and the future of housing prices. it is not really about saving the house, but just delaying it for a few years to help the owner's property not be forcibly disposed of. . however, since the house has been mortgaged to the bank after the payment is cut off, legal proceedings are a foregone conclusion. if the economic situation does not improve or housing prices do not pick up, it will be impossible to truly keep the house.

behind this "hot" business, of course, there is profit. some netizens said bitterly that the lives of those who had their mortgage payments cut off were already miserable, but they didn’t expect that the remaining food would be targeted by various institutions or people who teach you to stop paying, protect your house, install installments, and defer. in the end, you may not get a cent. leftover.

02 1 million existing mortgage, service fee as high as 50,000

on social platforms, if you search for keywords at will, you can find a large amount of information that provides home insurance services without paying for the loan. most of the posters claim to be lawyers, and the content uses eye-catching fonts and words to attract people who are on the verge of breaking off their mortgage payments, such as "if your mortgage payment is cut off for more than 6 months, the bank will file a lawsuit and ask for your house to be foreclosed on", "if you are unable to pay, to pay off the remaining mortgage loan, the bank will execute a foreclosure, and by then, not only will the house be lost, but the money will also be in vain."

the logic of these propagandas is exactly the same: first create anxiety and then provide solutions. after creating enough tension, they will throw out the bait of "keeping the house". some law firms claimed that they not only successfully helped the borrowers keep their houses, but also earned them hundreds of thousands of dollars in profits.

putting aside these glamorous promotional packages, the actual operating mechanism of cutting off mortgage payment and guaranteeing a house is actually not complicated.

when ifeng.com's "eye of the storm" consulted the staff of a housing insurance agency, the other party provided a form that needed to be filled in, covering the current total amount owed, monthly repayment amount, and loan status (such as normal repayment, completed the payment has been terminated, has been extended, has been sued), the use of the house (self-occupied or rented, if rented, the rent amount must be indicated), and whether it is a joint debt of the husband and wife or there are other guarantors, and whether there are other debts, etc. . "the purpose of collecting this information is to evaluate whether the house can be saved and how long it can be saved," the other party said.

according to him, there are two types of house security, one is to secure the house before the payment is cut off, and the other is to secure the house after the payment is cut off. he said that if the payment has not been cut off, he can help apply for an extension with the bank. "it can be extended for at least one year, and you don't have to pay back a penny during the period." they will charge a fee of 6,000 yuan.

when it comes to preserving a house after the payment is cut off, the core strategy is "procrastination." the above-mentioned staff revealed that they will raise reasonable legal objections at various stages such as overdue collection, pre-litigation property preservation, court hearing, execution and even final asset liquidation and disposal to delay the judicial process.

specifically, after the payment is cut off, the owner can communicate with the bank and express that he is trying to sell the house to pay off the debt. after receiving the complaint, the person subject to execution can raise a jurisdictional objection on the grounds of not having a local registered residence. although this appeal will not be supported, once the objection is raised, the hearing time will be forced to be postponed, and the entire court will the process of acceptance, review, rejection and delivery can extend a lot of time.

even if the house is facing auction, you can continue to delay: find a "tenant" to sign a long-term lease agreement, and then ask him to file an objection to the execution with the court on the grounds that "the sale does not break the lease." even if you lose the case, you can still delay for a period of time .

there are many delaying strategies used by these housing insurance agencies. a person from a guangzhou housing insurance agency revealed that since the court needs to conduct an evaluation before the property is auctioned, the owner has the right to request that two to three people be arranged to conduct an on-site survey of the property in his or her own presence. . this way, the owner can refuse to show up, citing busy work schedules, thereby delaying the entire process.

this may seem like exploiting loopholes in laws and regulations, but it allows the debtor to achieve the purpose of preserving his or her house. zhang tao, a partner at beijing dongwei law firm who specializes in litigation disputes in the field of real estate, explained that during the long and complicated process from responding to a lawsuit to execution, if the lawyer continues to raise objections and then applies for a second instance after the first instance, it is possible that the case will be filed in a certain manner. keep the house within the time limit.

the staff of the above-mentioned house preservation agency also claimed that through house preservation, they can also help owners make money. he said that the routine of "buying and selling without breaking the lease" can be adopted. set up the legal hurdles by first arranging permanent residency with a friend or relative and a 15-year lease. after the supply was cut off, the house was sued and auctioned by the bank, but because of the existence of residency rights and leases, few people dared to participate in the auction, and the price at the second auction would be even lower. at this time, friends could be asked to buy the house at a low price, and then through high-end auctions. after evaluating and obtaining a new loan from the bank, he not only saved the house, but also made a profit of more than 800,000 yuan in the end.

zhang tao analyzed that in the current market environment, the possibility of making money in this way cannot be ruled out. because the house is already decreasing in price, its price will decrease further when it enters the second auction.

of course, in this house preservation game, the biggest beneficiary is the house preservation agency. ifeng.com's "eye of the storm" learned that there are differences in the fees charged by various institutions for housing maintenance. some institutions said they would assess fees based on the specific terms of the loan contract and overdue circumstances.

some institutions determine fees based on the loan balance: if the loan amount does not exceed 1 million yuan, the fee is 5%; if the loan amount is between 1 million and 5 million yuan, the fee ratio is 3%; if the loan amount exceeds 5 million yuan, the fee is 3%. yuan, the fee is reduced to 2%.

such fees are not low. taking a loan of 1 million yuan with a term of 30 years as an example, based on the current mortgage interest rate, the monthly repayment amount is approximately 4,774 yuan. in this case, the cost of maintaining the house is 50,000 yuan, which is equivalent to approximately 10 months of mortgage repayments.

03possibly suspected of criminal offenses

this method of cutting off mortgage payments to protect the house business has also been questioned and scrutinized by the outside world. its operating mechanism seems to provide troubled homeowners with a shortcut to relieve their urgent needs, but in fact it takes advantage of their lack of legal and financial knowledge and their eagerness to seek solutions to make profits. what’s more serious is that there are legal risks lurking behind this business model that cannot be ignored.

wu longfei, senior partner of guangdong legal shengbang (dongguan) law firm, told phoenix.com's "eye of the storm" that housing insurance agencies that cut off supply are essentially making money from poor information. she believes that although cutting off the mortgage payment can play a role in protecting the house for a period of time, it is not necessary.

she revealed that under normal circumstances, even without any intervention after the payment is cut off, the property will not be auctioned quickly according to normal legal procedures, and it often takes one to two years, during which time you can still live in it. at the same time, if the borrower is unable to repay the loan on time due to financial difficulties, he can apply to the bank for a deferral of repayment before the loan is cut off.

"even if supply has been cut off, banks have gradually become cold-blooded," zhang taojin added. in the past, bank loan non-performing ratios were low. once supply was cut off three times in a row or six times in total, the bank might immediately file a lawsuit. but now, as the number of foreclosures increases and many properties are still occupied, auctions have become less easy to execute and can easily lead to conflicts, which is an outcome that no party wants to see.

he said that most banks will negotiate solutions with borrowers based on their repayment history and current difficulties, such as temporarily suspending loan repayments, reducing monthly payments, or paying interest only. "the length of this buffer period varies and could range from three months to two years."

in other words, whether it is before or after the supply is cut off, you can keep your house for a certain period of time through formal channels without paying fees to the housing insurance agency. "the problem is that many property owners know little about laws, policies and how to communicate with banks, so they are easily confused by the rhetoric of housing insurance agencies, and then choose to cut off payment to guarantee housing," wu tongfei said.

real estate blogger "dafangge" believes that the business of terminating mortgage payments is squeezing the "last drop of blood" from those who cut off mortgage payments. these people are already living in difficulty due to financial constraints, and now some people are taking advantage of this opportunity to make profits. after the supply is cut off, owners will face more risks.

zhang tao revealed that if they continue to refuse to repay, the bank will definitely initiate legal proceedings and require the borrower to bear liability for breach of contract. this includes but is not limited to repaying the entire principal and interest of the loan at once and bearing legal fees, etc., which will still cause economic losses. "at that time, the individual's credit report will also be affected, and it will have to wait until five years after the dishonest behavior stops before this bad record can be erased. during this period, the individual's application for loans and even his children's education plans will be affected by this. adverse effects." zhang tao emphasized.

more importantly, the act of cutting off payment to protect a house is essentially hovering in a delicate balance on the edge of the law. wu longfei pointed out that although the use of delaying tactics to delay the litigation process may not directly constitute a legal risk, if the leasing form is planned in advance as a means of evasion, it is likely to cross legal boundaries and be regarded as an act of resisting the court's judgment and ruling. . zhang tao further pointed out that once the facts are clear and the evidence is sufficient, he may be suspected of a criminal offense and face severe punishment by law.

cutting off the mortgage payment to secure a house is more like a huge gamble in the fog. the person who broke off his confession stumbled on this road, trying to find that glimmer of hope, but he didn't know that the real safety may be hidden in a more honest and rational choice.

(li ming is a pseudonym)