Recently, a poster about C&D Real Estate and Nanning Cooperative Bank jointly launching the longest loan up to 100 years old has been circulating on the Internet. The Paper confirmed that the content of the poster is true. Under the premise that children are co-borrowers for housing mortgages, the lender’s age limit can be relaxed to 100 years old. This loan model has been followed up and adopted by many real estate companies. According to the WeChat official account of Nanguo Morning Post, on February 11, several real estate projects in Nanning announced that “the age limit for housing mortgage loans can be extended to 80 years old.” “Shanghai Securities News” reported that Chengdu’s CCB also has a policy of increasing the age limit for mortgage lenders to 90.
Netizens exclaimed that such a mortgage is more terrifying than a deed of sale. Because the deed of sale only sells this body and does not involve the next generation. A video circulated on the Internet showed that a 4-year-old child inherited a monthly mortgage debt of more than 6,000 yuan after his father died, and the bank forced his divorced mother to pay the mortgage.
Ms. Liang cried and said that after her divorce, her son had been living with his father. After the child’s father, grandfather, and grandmother passed away one after another, the child could only live with her. The bank approached Ms. Liang and asked her to repay the housing loan of more than 6,000 yuan that her son inherited from his father every month, and it would take 20 years to repay. However, Ms. Liang’s monthly income from part-time jobs is only more than 2,000 yuan. The life of the mother and son is very difficult, and they cannot afford to repay the mortgage.
The net name “wsdkg” said: “When I bought a house, it was clearly written in the contract: If I have no ability to repay, my immediate family members are obliged to repay the mortgage for me, and the bank also notified my parents by phone. Many people buy houses with the lowest down payment ratio. With the current high interest rate, the bank loan cannot be fully repaid after the foreclosure of the house. But if there is an adult relative, this situation is unavoidable.”
Xie Tian, a professor at the Aiken School of Business at the University of South Carolina in the United States, said: The CCP’s rogue government will do everything possible to use debt to tie the people firmly. It doesn’t matter how old, young, or orphaned you are.
Xie Tian said: “Under normal circumstances abroad, this person has a mortgage and passes away. If his descendants are willing to inherit, or if the child has a guardian and is willing to inherit, they can inherit all the loans, debts and assets. This child obviously has no ability to inherit, so he can not inherit. If he does not inherit, he will be bankrupt. The bank has the right to take back the house and auction it off. The money from the auction will be repaid. Part of it is the bank’s bad debts. Because this person died, his debts are gone. This is the case in normal countries, and it would not be said that debts are placed on children. This is absurd!”