Many people think too simply about stopping mortgage payments and giving up their houses.

They believe that stopping mortgage payments means the house is handed over to the bank, and the mortgage debt also belongs to the bank, so they no longer need to care about the house.
They are too naive.
When you stop paying the mortgage, the house belongs to the bank, but the debt still exists.
For example,
A house worth 2 million yuan, bought with a 1.4 million yuan loan, later drops to 1.2 million yuan, but the loan remains at 1.4 million.
At this point, the homeowner wants to give up the house and chooses to stop paying the mortgage, but after the house is auctioned by the bank for 1.2 million, it still isn't enough to cover the 1.4 million loan.
So, the 200k yuan shortfall still needs to be paid, and if not paid, it becomes a defaulter.
Moreover, during the actual auction, the auction price is usually lower than the market value, and legal fees and other costs will also be incurred.
These legal fees and other expenses are added to the homeowner’s debt, making the situation even worse.
That's why banks consider mortgage loans the most reliable loans—because they also know that very few people will actually default on their mortgages.