The auction process related to home mortgage loans

The mortgage assets to borrow money and agree for Bank auction should you not pay the debt, the Bank has the right to decide whether you oppose.

The Bank has the right to sell the property when the auction brought the mortgage?
The House of the couple you are collateral in transactions with the Bank. When does not pay the loan, according to the rules of mortgage assets, the assets will be disposed to pay debts.

Article 6 paragraph 2 of the Decree 17/2010/ND-CP rules about who has the property of auction include: property owners, who are the authorized owner sell the property, who is responsible for the transfer of property for auction or individuals, organizations have the right to sell the assets of another person as prescribed by law.

Article 10 circular 23/2009/TT-BTP regulation who has the property of auction include:

1. The owner of mortgaged property, the person who is the authorized owner sell the property;

2. Who is responsible for the transfer of property for auction is the Agency decided to confiscate funds supplement State for exhibits, means of administrative violation according to the rule of law;

3. The Agency, organization, unit is delivered using the management or mortgage refinancing handling of presiding State assets;

4. Banks, credit institutions with regard to the secured property;

5. Executive Member, civil enforcement agencies, individuals, other organizations competent to handle other people's property through the auction of the property under refinance home mortgage of the provisions of the law;

The case, brought by the collateral to borrow money and agree to auction Bank properties. Consequently, the Bank is "who have the property auctioned".

As defined in item 2 article 38 of the Decree 17/2010/ND-CP, once that expiry of registered to participate in the auction of the property that only a registered person to buy auction property or more people registered to participate in the auction but only one bidder with a starting price of the property is sold to the person If people have mortgaged property auctioned agree. The sale of the property was conducted after the listing, announced publicly, display properties and no complaints related to the order, the procedure until the decision to sell the property.

As such, the sale or not will depend on the will of "the property auction", here is the Bank. So your objections have no value that mortgage prequalification only new Bank has the power to sell or not.

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