More people defaulting on housing mortgages
(China Daily)
Updated: 2004-02-16 16:50

An increasing number of people in Guangzhou are being sued by banks for failing to meet monthly payments for housing and car mortgage loans, reports Information Times.

At a local bank, one in four customers who had taken housing loans has defaulted.

Financial difficulties arising from factors such as the loss of job, break-up of couples or accidents have led to the high rate of default.

Close