They will take your case to court and the court

[sumaiyakhatun29]

5) The owner can go bankrupt When the bank sells a house at a low price, the price may not be enough to cover the owner's debt. Let's say the debt is RM100,000 and the bank only managed to sell it for RM70,000. The remaining RM30,000 is still payable to them by the owner. If you don't pay and the amount is more than RM30,000, the bank can take action to sue for bankruptcy.


What You Need to Do When Your House is About to Be Auctioned 1) croatia whatsapp fan Pay the arrears if the bank has not started the auction summons process… If the bank has not started the auction summons process, pay the existing installment arrears. If you can't pay it all, pay it and make sure the arrears are no more than two months. Why? Banks will usually start the summons process for arrears of three months or more.


They call this kind of debt a non-performing loan or NPL. can order the house to be auctioned if you cannot pay. That's why it's important that your debt doesn't exceed three months. 2) If you have been issued with an auction summons, you must pay all arrears. What if you've been sued? Can you pay and leave the debt up to two months in arrears? I'll give an example to make it easier to understand.