The Legal Dilemma Of Mortgage System

While a large number of mortgage housing destroyed in "5.12" Wenchuan earthquake, how to deal with the mortgage loans caused people heated debate and widespread concern , the issue of mortgage loans in the disaster areas has become an urgent social problem of a heavy, and analyzing it theoretically is of practical significance.What is the legal nature of the mortgage in China, the academic is controversial. Mortgage loans mainly involved the legal relationships below:housing transactions,loan, mortgage, guarantee and so on. Under the existing legal framework, after the delivery of housing in accordance with the law, buyers suffer from the consequences of housing mortgage destroyed in the earthquake.Mortgage contract changed to fulfill,loan contract may delay implementation of the exemption. However, mortgage debt does not exempt itself. Therefore, buyers should continue to perform in accordance with the repayment obligations under the contract. Hence,come to the conclusions from the legal aspects.But for ordinary people in terms of purchase, when the earthquake resulted in heavy losses of property and the inability to repay their loans, the mortgage loans problems will become a legal issue of.that is difficult to dispose For the application of force majeure system and the introduction of the principle of non-change, in the system level and judicial practice, there are obstacles to run. Due to legal defects and blank in the mortgage system,for buyers, and developers and the banks,it is difficult to reconcile the conflict of interest, in particular, the majority of a heavy debt burden can not escape in the disaster areas.The government and the courts is facing the enormous pressure.Essentially, the difficulties that the mortgage loan is facing are the legal difficulties that the mortgage system is facing. The lack of the legal system, including lacking personal bankruptcy system and earthquake insurance system is of institutional reasons why the mortgage loans problem is facing the plight in the disaster.Mortgage loans problems after the earthquake is difficult to be properly resolved by the existing legal framework in our country ,to need to work together by countries, parties and even the whole society, especially the policy of the Government's emergency measures will no doubt the most practical significance, but the emergency policy measures are often special-thing-specially-served,not to be universal.Only from the legal system to find means to resolve the problem and to establish a long-term mechanism is of fundamental significance. Therefore, I believe that improving the earthquake insurance system and the gradual establishment of personal bankruptcy system is a good option to resolve the path.This article is divided into three parts: In the first part, the problem of housing mortgage loans raised in case. In the second part, there is an analysis of the legal nature of mortgage loans and of whether the mortgage loans should continue to repay after housing destroyed in the earthquake, and of facing the difficulties of the mortgage system by dealing with catastrophe and of institutional reasons from the legal aspects. In the third part ,a solution path to the problem is raised.