Study On The Commercial Housing Mortgage Repayment Problems Caused By The Earthquake

Ya ’an, Sichuan province, on April20,2013, a7.0-magnitude earthquake affectsthe national people’s nerves.One new about the earthquake in mortgage commodityhouse collapsed, buyers should continue to pay caused a heated debate. In fact, asearly as in2012after the occurrence of Wenchuan earthquake on May12, the socialfrom all walks of life to related problems are discussed in this paper, only because themortgage involves complicated legal relationship, involving the interests of the big,imperfect existing related legal regulations, relevant discussions continued after aperiod of time, did not come to the conclusion finally.This paper is divided into three parts:The first part is an overview of the mortgage relationship.Mortgage relationsinvolving property buyers, developers, Banks the tripartite main body,mainly by themortgage loan contract and mortgage contract or mortgage terms, commercialhousing sales contracts, and also guarantee contract, insurance contract, and manyother developers.Mortgage in our country has not unified law, mainly scattered in thenorms of civil law.The second part is the analysis of the mortgage risk.The supreme People’s Courtin “About the commercial housing sales contract dispute cases to explain some issuesof applicable law”, the explanation of some issues of risk transfer in the process ofcommodity trading has made specific provision,marked by the delivery,the content ofthe article11of this judicial interpretation provisions is the important legal basis ofdiscussing mortgage risk transfer.The transfer risk of mortgage and transfer risk ofgenerally existing house sales are the same time, both of them are marked by homedelivery.But earthquake as force majeure for relations between the mortgage loan andmortgage relations in the impact is not the same.Therefore, according to the currentlaw, for a house already consign is used, the buyer should pay their mortgages.The third part is seeking mortgage repayment solution.To solve the earthquake in the mortgage repayments, we should use multi-pronged.Government public policysupport for the victims.Court in the judicial process measures such as using theprinciple of changed circumstances change contract can temporarily alleviate thepressure of the buyers payments, but the limitations of these measures, can notfundamentally get homebuyers, developers and Banks to trouble.Buyers under thesupport of the government repay ability to recover quickly, within the framework ofcurrent laws is feasible, its shortcomings are likely to make bank capital flow not free,is not conducive to the stability of the financial environment.Therefore, draw lessonsfrom foreign successful experience, set up the system of earthquake insurance andearthquake risk securitization system, can let the commercial housing mortgagerepayment difficulties caused by the earthquake becom to be the history.